Free tax filing? It could be possible if we had a fully funded IRS. Senator Elizabeth Warren explains the simple action that could take the stress away from millions of Americans each April.
When Americans fill out W-2 and 1099 forms, their employer sends that information to the federal government. The government already knows your yearly earnings are before your taxes are filed. Instead of spending hours scrambling, all Americans could receive a pre-filled out tax form from the IRS with the information that the agency already has.
Tax prep companies like Intuit and H&R Block spens millions lobbying the government to stop the IRS from offering a free file option. Both companies have intentionally hidden their free filing tools.
The Tax Filing Simplification Act could end the chokehold the tax prep lobby has had on Americans for decades.