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Killing TurboTax

kunle.app

691–692 of 692 posts

Re: Killing TurboTax

#691

"Killing TurboTax" is essentially a meme until we meaningfully simplify the tax code. There is no software development team on earth who could catch up with the full capabilities of TurboTax without some sort of fundamental shift in the business. I really hate to say this as someone who makes a living out of it, but dealing with the current amount of complexity in the tax code with a piece of software that a non-expe…

> There is no software development team on earth who could catch up with the full capabilities of TurboTax This is obviously false. The IRS software handles everything TurboTax does and more. As does the software that professional accountants use, such as ATX Also: TurboTax's many retail competitors like HR Block.

Agreed. I suspect an open-source competitor could be much better than all of these if organized well.

Re: Killing TurboTax

#692
post #455

Earlier quoted context omitted.

> Many countries have deeply complex tax codes. Can you give an example of any country whose tax code is more than 70k pages long? Or a country where it requires, by default, taxes paid on money earned while living oversees, depending on a large number of international treaties, case law, and expensive private letter rulings? Or a country that requires you to file a different tax return in almost every state you step…

https://www.vox.com/policy-and-politics/2017/3/29/15109214/t... > As of 2014, the tax code was only about 2,600 pages long The usa hardly has a monopoly on tax code complexity. We're talking about personal income tax right now and I can't find a complexity index for that, but for business taxes the usa ranks fairly low on https://www.taxcomplexity.org/ > That’s not a nightmare scenario. That’s just a standard audit.…

> the tax code was only 2,600 pages - Vox

> “a tax practitioner who relies just on the tax statutes will go to jail” - Tax Foundation

https://taxfoundation.org/how-many-words-are-tax-code/

> nightmare scenario has not happened anywhere

I’d be surprised to learn that any country had zero audits, because their file-free tax system worked for everyone. Is that the case anywhere?

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