According to recent reports, the United States is making efforts to create a free federal tax filing system. Go through the entire article to learn more about this news piece.
The new tax system
If you are one of those people who find filing tax a headache, then this news might be of interest to you. The United States is making efforts to step up and embrace the modern world by making changes in its tax filing system. Very soon, people will be able to deposit taxes with the click of a button without much hassle. Treasury Secretary Janet Yellen on Thursday expressed support for simplifying the process. “Tax filing should be simple: I recently came across a statistic it takes an average American 13 hours to file a tax return,” she said during a visit to an IRS facility in Maryland. “Compare that with Sweden. Some taxpayers can file simply by replying to a text message. We can and must do better.”There’s a real opportunity here for the IRS and then indirectly for taxpayers to have a tax system they can count on more than the existing one,” Janet Holtzblatt, a senior fellow at the Tax Policy Center, told Insider.
About IRS
The International Revenue system is headed by Natasha Sorin. In her statement, she claimed that if the IRS was properly funded, people can actually file taxes in a way more convenient and hassle-free manner. But there are many problems to be dealt with regarding IRS. The pandemic has hit the world really hard, including this company but still, there is a lot of time until you are ready to take responsibility.
About Joe Biden
The United States is currently headed by Joe Biden. Therefore, all the decisions being taken are with his approval. He is taking America to the path of modernity and success. He won the election with quite a margin. He has invited people for lunch fir them. Being the prime minister of the company, his only job is to bring communities today and help make a difference in her firm overall. Along with doing this, he will lead the company to a successful future. As of now, the pandemic has hit all the businesses and everyone is trying to find a way to get out of it. IRS requires funds to function in the most efficient manner. There have been instances in the past where there was a big incident but today it has become a norm.