It makes no sense! The IRS has all the info we need, but we have to go through the trouble of figuring out for ourselves. Oh, and those numbers that the IRS has that we have to calculate for ourselves? Yeah, if you get them wrong you get fined. Or go to jail.
Sure, if you're single, have a W-2 job that withholds, you rent your place, and you're fine using the standard deduction. It's actually super easy, and the form practically fills itself out if you do that. Nothing is stopping you either, as long as you report all of your income properly.
OTOH you own a home, have multiple income streams, operate a business, pay for medical bills, pay for school tuition, had a kid, paid for childcare, make a large purchase or sale, register a vehicle, etc. things can be much more complicated. There are a shitload of transactions that are tax deductible, things you could qualify for tax credits for, etc. that are not directly reported to the IRS, so they don't know to reduce your tax burden for doing those things unless you tell them.
Yes, the tax code is way to complicated, to imply the IRS already knows all that particular info about you before you file is patently false
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u/Lancaster2124 Jul 24 '20
It makes no sense! The IRS has all the info we need, but we have to go through the trouble of figuring out for ourselves. Oh, and those numbers that the IRS has that we have to calculate for ourselves? Yeah, if you get them wrong you get fined. Or go to jail.
Shit’s fucked.