Comment

CPAC 2011, Day 2

178
lawhawk2/11/2011 12:49:40 pm PST

re: #119 WindUpBird

I work with taxes all the time, and I have my FIL handle mine since he’s a tax preparer. I’ve prepared my taxes before, but that’s usually with Turbo Tax.

The tax code, with all the credits, deductions, exemptions, and other limitations and changes is simply too complex to try a paper return and sometimes it just takes an outside preparer to make sure that you have all your paperwork in order.

That’s billions of dollars a year that is spent on tax preparation that could otherwise be spent on more productive uses.

Simplification could go a long way to reducing the burden to prepare returns - and improve compliance (a huge issue, particularly with things like the EITC for personal tax returns and other more complex item on the corporate side like NOLs).