Edwards will announce his "Form 1" plan to overhaul the tax filing system LINK

[Blackhatjack]

http://johnedwards.com/news/press-releases/200700406-form-1/

Edwards will announce his "Form 1" plan to overhaul the tax filing system by having the IRS calculate millions of families' tax bills and mail it to them on a "Form 1."

For as many as 50 million Americans, the IRS gets all the information it needs to calculate taxes from employers and financial institutions. As part of Edwards' plan, the IRS would calculate the tax bill and mail it to them on a Form 1, where they could verify and recalculate it or simply sign and return it. Form 1 is a step toward Edwards' vision of a tax code that is simpler and fairer and that rewards work.

Edwards' Form 1 plan would also:

Make filing easier for taxpayers. The IRS will make filing taxes easier for taxpayers by sharing its information, reducing the need to gather documents and by creating a free interactive web site that eliminates the need for data entry, calculators and tax tables.

Help low-income workers by informing working families about their eligibility for the Earned Income Tax Credit, which lifts more than 4 million people out of poverty every year.

Take on the tax preparation industry, which continues to fight against simplification initiatives.

********************

Sounds like another issue that John Edwards is addressing with specifics. I think the public is beginning to see what it would be like to have Edwards as their advocate in the White House.

[Rosemary2205]

1. The problem isn't HOW I pay my taxes.

The problem is the percentage of my income paid in taxes compared to the rich.

The secondary problem is what the Feds are doing with my hard earned money.

[Blackhatjack]

2. You just addressed a completely different issue....

Both are problems, and both deserve reform.

[napi21]

4. For you that may be true, but there are LOTSof people who just HATE

having to fill out those forms. I've talked to people who could simply file the 1040EZ which takes more time to find a pencil than it does to complete the form, but they were SCARED they might make a mistake! I know...WHY? I can't answer that, but the very low income and many of the elderly fall into that group.

I like Edwards' idea. It's certainly NOT an answer to all the problems with taxes, but it IS one thing that could easily be done FOR the people!

[SammyWinstonJack]

5. ..

:applause: :thumbsup:

[youngdem]

3. Edwards is now OFF! of my list for Prez

Trust the government to calculate my taxes by giving them ALL of my financial information and access to transactions and balances, all in the name of making my life EASIER? FUCK THAT, MR. EDWARDS!

I know for YOU, as an extremely wealthy person, this might sound easier (and cheaper than paying an accountant), but to me, the average American, this sounds HORRIBLE.

YEAH, FUCKING RIGHT. I am gonna trust the government to look through my financial information and accurately calculate the MINIMUM legal amount I owe them?

NO FUCKING WAY.


WHO IN THE FUCK DID EDWARDS' PEOPLE TEST THIS SHITTY IDEA ON?

Ugh.

A populist who has a Big Brother bent. Fucking great.

Anyone doubt that this will be INSTANTLY and HORRIBLY abused to the detriment of those not connected enough to influence their "Form 1" results?

Is there a REAL Democrat running this election?

:grr:

[Gloria]

6. The gov. has it all already...the bank and brokerage houses report

everything directly.....The IRS has the income and deduction info from the employer. Get a grip.

[youngdem]

9. Well, they DON'T use it to calculate my tax

And since I am a self-employed person with innumerable deductions the government would NEVER properly account for and credit me, my taxes would certainly SOAR.

I don't have 'an employer'.

This might be ok for people who fill out a 1040 EZ then bitch about the one page form being complicated, but I am in a very different situation, and my ability to itemize and deduct expenses is what makes my line of work worth doing. If I couldn't itemize, I would pay a SHITLOAD more in taxes. I tried filing the simple one year. I almost had a fucking heart attack when I got to the AMOUNT OWED line, so I went back and itemized.

The government can't do a goddamn thing reliably. I would rather not hand over my livelihood to them anymore than I already have to.

And thanks for telling me to get a grip. That was really nice considering you don't know SHIT about my situation.

[NewJeffCT]

14. Umm, it doesn't say "everybody"

It says for as many as 50 million Americans, the government gets all of your tax information from various sources (banks, employers, municipal agencies, etc) and for those people, the IRS will calculate the tax for them.

I didn't see anything in there that says "everybody" or "all people" or anything like mandated/required. It also said that it will be sent to people so they can verify the information.

Chances are, if you work for any business that employs more than a few people, your W-2 information is transmitted electronically directly to both the IRS and your state revenue department.

If you own a home, the property tax paid on that home is a matter of record in the town where you own the home. Any mortgage interest is likely submitted electronically by your bank to the IRS.

Your marital status and if you have children is also on record - assuming you have a social security number.

[Blackhatjack]

7. If you think the IRS does not already have your information, you are mistaken....

He is talking about the information already obtained by the IRS from other sources(your employer, any 1098, etc) and the lowest income taxpayers who should not have to go out and round up the information from various sources and provide it to the IRS.

IF you like to round up your own information, you can still do that. ANd the form 1 you would get allows you to review the information for accuracy, revise it, make changes, or file a complete long form that your accountant prepares.

THere is no 'Big Brother' aspect to this filing plan. Just rescuing individuals from having to pay others or struggle themselves to fill out a long form return, and this way you almost be immune from an audit if you sign off on the Form 1 mailed to you.

[NormanYorkstein]

8. uh, they already do that

Your employer gives the IRS your tax forms. What Edwards is attempting here is to make sure that low income people get the Earned Income Tax Credit (one of Clinton's good programs). Most people who are eligible don't get it because the tax forms are so convoluted you need an accountant to fill out your tax forms.

I don't know how this proposal would work in practical terms, but it's a decent attempt.

[Gloria]

24. Not only that, the IRS already OFFERS to compute the tax for you

if you want them to. It's right on the tax form near the end!!!!

[movonne]

10. Are you a Hillary fan???or maybe Obama?? I like Edwards and

if I didn't like one thing he wants to do and like the rest of the things he does, gee what do I do????

[napi21]

11. It doesn't SOUND like you would HAVE to let them calculate your

taxes! Why does this offerto some who have VERY simple tax returnsupset you so much? Hell, we own our home, I wasn't working, all of our income was onmy husband's W2, and we had all of$19.00 of interest income from our small savings account. Our RE taxes weren't enough to exceed the Std. deduction and we have no mortgage. I filed the damn 1040EZ for over 5 years! The Feds already HAVE all the financial info about us that they need to complete the tax return. Why wouldn't I say this is great! All I'd have to do is compare hubby's W2 to the completed form 1, check the 1099 INT with the Form 1, and sign it and mail it!

You're getting all worked up over nothing.

[Mojambo]

12. (Self edit) Bad joke.

But it seems like you're overreacting just a little.

This is going to be completely optional. It won't effect you at all unless you want to do it that way.

Hardly a reason to write off Edwards as a candidate.

[youngdem]

13. I don't see it as overreacting when a Dem candidate starts proposing the government do my taxes

You don't think if Uncle Sam does your taxes that your bill is going to go up? Do you think they are gonna accurately account for all of your deductions and credits when it is in their direct benefit to do the opposite?

If Edwards wants to make sure that EITC's are awarded more often when people are eligible, then send EITC forms home with children from school or the hospital, or some similar approach. But no way in hell is the government gonna start doing my taxes, because I'm gonna get screwed and I am barely making it as it is.

Glad to see so many government trusting Dems on this site. Don't know what it did to earn it. Every encounter I have with the federal government leaves me thanking God I don't have to deal with them more often.

[Mojambo]

16. As has been pointed out.

You don't have to let the government do YOUR taxes.

It's still entirely in your right to do all the leg work yourself.

[NormanYorkstein]

19. Perhaps you should re-read the proposal?

I think there may be some misunderstanding?

[BeyondGeography]

22. Which could be the problem with the proposal

if this board is confused, imagine what our opponents will do with it.

[NormanYorkstein]

23. that's a good point, but

it doesn't really matter, the GOP will make up whatever they need to anyway. Maybe Edwards should stick to calling it "tax simplification" or something.

[Clark2008]

15. Why do we need this?

If you're low income, your taxes are done for free - AND you can have them done online in the privacy of your own home.

I did when I was a single Mom. I'd much rather watch the process than have the IRS - or any governmental agency - do it for me.

[Beaverhausen]

18. So all low income people have computers at home?

I think this is a great idea. Not everyone would use it, but I think it would help lots of people.

[Blackhatjack]

20. Many people do not know about free services, and many do not get Earned Income Credit that qualify

It really just takes the burden off the lower income/wage earner taxpayer to complete a tax return. But it is not everybody.

It is a 'tax filing' issue. Not a tax paying issue. Both issues deserve reform.

[Blackhatjack]

17. Making sure people who qualify for the Earned Income Credit get it is important...

... and something that Republicans hate with a passion.

Of course not everyone would qualify for a Form 1 return.

If you are self-employed, you will have to provide a lot more information to calculate your tax liability than the IRS already has. But there needs to be reform in that area as well.

Nothing here to get bent out of shape over. Just alleviating the challenge for many people who should not have to struggle to fill out a tax return.

[Blackhatjack]

21. Lots of people do not file a return to get back tax withheld when they owe no taxes...

... often afraid they might make a mistake and be audited.