SALISBURY, Md — If you’re frustrated with having to pay companies like turbo tax or tax law to file tax returns, instead of going straight to the IRS to find out how much you owe, a group of senators Americans agree.
A group of Democratic senators, including Virginia Sen. Tim Kaine, introduced a bill that would dramatically expand the IRS’ online filing program for low-income Americans.
The legislation would allow taxpayers with straightforward tax situations to choose a no-return option, which provides a pre-prepared tax return with an income tax or refund amount already calculated, as well as an obligation to protect tax information. and a robust online system. be initiated to process new and pending claims.
According to Tim Kaine, the bill would save Americans an average of $240 and 13 hours of time and money filing their federal taxes each year.
CPA Mark Welsh of UHY LLC tells us it will help low-income families recoup extra money through programs like child and earned income tax credits.
“These are low-income people who really want to file their taxes, most likely they have a little refund coming up and they want to get it because it helps pay the bills, so it’s really going to be a much faster way and secure to be able to do that,” Welsh said.
However, he says he sees a flaw in the bill; the fact that it only covers federal filings.
He says that since the IRS only handles your federal filings, people may still have to register and pay for these same third-party programs on their state filings that are handled by state comptroller’s offices rather than by the IRS.