Need for computers to file income taxes
Posted Mar 21, 2010 1:47 UTC (Sun) by giraffedata
In reply to: Need for computers to file income taxes
Parent article: OpenTaxSolver solves taxes, openly
Hmm, anyone that owns a house pretty much can't (or shouldn't) file the short form. That covers a *lot* people ...
Yes, I was wrong. I found references that say only 60-70% of US taxpayers use the one page (1040EZ) and two page (1040A) short forms. I don't know if the 1040A is complicated enough for anyone to use a computer to generate it, but maybe.
I also looked up the house ownership impact. For those not familiar with the relevance of owning a house to income tax, it's actually about whether you borrowed money to buy your home. Income you spend on interest on such a loan is not taxable (and not for any sensible reason -- it's historical). I found out 70% of US homes are occupied by an owner and 60% of those homes are collateral on a loan, so that pretty much accounts for all the people who file the long form.
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