How long will it be before the IRS computes your taxes for you and sends you the bill? Not long for many people. The impact will be enormous. The IRS has all the data. The same data that you have. In fact, the IRS records are better. Why?
Every interest payment you made, wage, dividend, and interest payment you have received that have been reported to the IRS and are associated with your social security number, the IRS has on file. The interest report you received from your bank a few months ago that you lost, or forgot about, the IRS has. By the way, it is not a secret. You can get a list of all your financial data that has been reported to the IRS and associated with your social security number by merely calling the IRS and asking for it.
The IRS has your data on its computers. If you ask for it, it will be sent to you in a neat computer print-out and you can use this information to file your taxes. In other words, you would take the data they have, hire a tax person who enters the data into a computer software program that calculates your taxes. You can also do it yourself like millions of American do now on-line. Or the IRS could simply transfer the data electronically into a software program, send the results to you and you could click, either accept or decline.
I have no proof other than my innate omnipotent clairvoyance, but I believe they are working on this now. Want some proof? When they send you a bill for underpayment of your taxes; that is what they have done, they have calculated your taxes due and their totals do not agree with your totals. Ergo, they calculated your taxes didn’t they? It is up to you to show they calculated incorrectly.
Why would they want to do this for you? I am going to let you think about this tax filing concept for a few days, but check back on this blog for my answer and the impact of this IRS activity on you next week. Once they put their toe in your water, they will be soon be swimming in your pool.
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