Over 60 Million Tax Returns Could Be Completed Automatically, Study Shows
7th May 2022
The IRS may have the ability to automate nearly half of tax returns, according to a working paper from the National Bureau of Economic Research.
The agency could correctly auto-fill an estimated 62 million to 73 million returns with information it already has, covering 41% to 48% of taxpayers, researchers from the U.S. Department of the Treasury, the Minneapolis Federal Reserve and Dartmouth College found.
“Our results suggest that pre-populated returns would be accurate for a substantial share of U.S. taxpayers,” the authors wrote.
Can you spell T-U-R-B-O-T-A-X? Can you spell H-&-R-B-L-O-C-K? I’m sure you can….