alexandru_m 38 minutes ago

Why does the US have a tax prep industry in the first place?

In every other country in the world, taxes are handled by their respective financial authorities.

Why must every service and thing in the US must be a private profit making thing?

  • benjijay 20 minutes ago

    Land of the f(r)ee

  • ta20240528 35 minutes ago

    Yip, consider how much money banks make by injecting themselves between you and the reserve bank.

  • janwl 31 minutes ago

    Can’t you fill your taxes for free in the US if you know how?

    • willis936 21 minutes ago

      That's why GP said "tax prep". Anyone can download and submit a 1040. That isn't the part that takes domain expertise.

      • janwl a few seconds ago

        I don’t know why assume that in every country in the world that is free. In my European country until 15 years ago or so you had to hire someone to do your taxes for you, and currently the free method only works for the most simple tax filing.

fersarr 5 minutes ago

the UK seems to be going in this same bad direction now "As part of our journey to modernise and digitise our filing routes, all accounts must be filed using commercial software from 1 April 2027." https://changestoukcompanylaw.campaign.gov.uk/changes-to-acc...

you used to be able to do this yourself on the gov website for free

  • rwmj 4 minutes ago

    Tell me about it! The bottom tier subscription services are also subtly crippled to make filing MTD tax returns difficult. eg. Xero's lowest tier doesn't let you easily add cash payments (without jumping through hoops for each payment).

zkmon 3 hours ago

I never understood why the Revenue can't provide a set of simple online forms for tax returns like India does. Heck, India provided Excel sheets with VBA script for many years, that produced an XML which can be submitted as tax filing. Tax filing is now a 15-minute affair for a salary-only income in India.

  • jameslk 3 hours ago

    The complexity is a feature not a bug. If you have more complexity, you have more opportunities for loopholes. Those loopholes are currently used by those wealthy enough to hire creative firms to help them get through them and minimize owed taxes

    If there’s one outcome I really hope from AI automating work, it’s taking away the advantage the monied class has in this regard. Then perhaps there’s less purpose for the complexity

    • dguest 3 hours ago

      Maybe the AI will create a level playing field and make the tax prep / loophole industry collapse.

      Or maybe the free models will start responding with

      """ It looks like you're asking for help with tax preparation. I recommend our designated AI tax service [link to service that asks you to upgrade your plan or pay a one-time fee]. """

      They are operating free models at a loss now, but at some point they are going to have to turn a profit. At that point tax prep becomes a revenue stream for AI as well.

      • saagarjha 2 hours ago

        Using AI to do your taxes seems like a quick way to get into a bunch of trouble.

        • ibizaman an hour ago

          Not if the IRS verifies using the same AI. Actually, it’s probably twice the trouble.

    • dennis_jeeves2 3 hours ago

      >The complexity is a feature not a bug. If you have more complexity, you have more opportunities for loopholes. Those loopholes are currently used by those wealthy enough to hire creative firms to help you get through them

      Agreed that the complexity is a feature but it's not for the rich ( though the rich will take advantage of it, and why not? ) . It's mostly for the powers that be. If there were a 'flat' tax ( and one could argue what constitutes a flat tax) the rich will be more willing to pay that flat tax.

      I'd say complexity support a very large govt, keeping several people employed including accountants, tax software companies etc. It serves the parasite class.

      • Terr_ 2 hours ago

        > If there were a 'flat' tax [...] the rich will be more willing to pay

        That's just because moving from progressive-taxation to a flat-tax reduces how much they pay!

        The "simplicity" of the math done by their usual accounting firm that does their taxes for them is irrelevant by comparison.

        _________

        To illustrate why the burden shifts, suppose the nation of Elbonia needs a constant $540 to operate, and it moves from a progressive tax to a flat tax.

            This year, progressive taxation, rising %:
                90 peasants each earn $10 and are taxed 20% -> $2 per peasant.
                10 nobles each earn $90 and are taxed 40% -> $36 per noble.
                Total collection is $540.
        
            Next year, flat tax, same % for all:
                90 peasants each earn $10 and are taxed 30% -> $3 per peasant.
                10 nobles each earn $90 and are taxed 30% -> $27 per noble.
                Total collection is $540.
        
        It should be no surprise that most of the Elbonian nobles are "willing" to see that change happen. Meanwhile, the peasants that are already living paycheck-to-paycheck have to plan how to cut back on luxuries like keeping their teeth.
        • jimmydddd 4 minutes ago

          Another issue is that super wealthy folks don't get their money from regular wages. They borrow money from banks using their assets (e.g., stocks) as collateral. They pay back the loan at relatively low rates. The borrowed money is not taxable income.

        • AnthonyMouse 12 minutes ago

          > That's just because moving from progressive-taxation to a flat-tax reduces how much they pay!

          That's what everybody says but then you look at effective tax rates in real life and the highest ones are paid by people like doctors rather than billionaires because the complicated system is the thing that allows the billionaires to pay less.

          Meanwhile you don't need a complicated marginal rate system to get a progressive effective rate curve. Just give everybody a tax credit in a fixed amount and then use the same rate for everyone. Here's your table when you do that:

          90 peasants each earn $10 and are taxed 42.5% and receive a $2.25 credit -> $2 per peasant, effective rate 20% 10 nobles each earn $90 and are taxed 42.5% and receive a $2.25 credit -> $36 per noble, effective rate 40%.

          These numbers, of course, assume that as in your example you need the average effective rate (by earnings) to be 30%. By comparison, for example, US federal receipts as a percent of GDP have been stable at ~17% of GDP since the end of WWII (and were dramatically lower before that). Your numbers would be more in line with what would happen if both federal and all state taxes (including e.g. property tax) were replaced with this system.

          • Terr_ 5 minutes ago

            [delayed]

        • themafia an hour ago

          It's worth pointing out that the Treasury takes in tax revenues throughout the year. The sources of that income are:

          50% Payroll Income Tax. 35% Social Security Taxes. 7% Business Taxes. 7% Excise Taxes.

          70 years ago they were:

          25% Payroll Income Tax. 25% Social Security Taxes. 25% Business Taxes. 25% Excise Taxes.

          I think the priority is fixing this distribution to levels which were historically perceived as being more fair. The wealthy are one problem. The oversized corporations are the everlasting machine which drives them.

      • DiogenesKynikos 2 hours ago

        The tax brackets are not what make taxes complicated. Knowing how to categorize different types of income is what makes taxes complicated.

        The flat tax would not make tax preparation any bit easier. They only thing it would do would be to eliminate progressive taxation. In other words, the rich would pay less. The poor would pay more.

    • ta20240528 32 minutes ago

      This is incorrect: the wealthy don't use loop holes. They use incentives explicitly enumerated in the tax code.

      What else is an incentive for, but that the government wants you to use it?

      Hell, Google got pre-approval from the IRS for their Dutch Sandwich tax structure.

      Most poor people don't read the tax code. They should.

      • smaudet 5 minutes ago

        Most poor people don't read*

        They should.

        Of course, this is not to say they always are stupid or illiterate, it's again usually just another form of exploitation, they don't have (or feel they don't) time to read it.

        Which is arguably explicit exploitation/enslavement - the Walmart door greeter doesn't have a difficult job, however their role doesn't allow them to do anything that would benefit themselves. I wouldn't care if they were reading their phones or a book, but noo... can't have the peasants educating themselves.

        And they aren't paid enough, so when they return home, they likely don't have any time after needing to perform meal prep, taking a second job, etc.

        The USA is a third world country in many respects.

    • bni 3 hours ago

      AI will increase the complexity even more

  • graemep an hour ago

    The UK has online forms for this, even for businesses, but is moving away from this as part of "Making Tax Digital" - i.e. they are axing paper forms to doing away with the online equivalents as well.

    Then again, most people here who have salary only income do not have to fill in a tax return at all - only if they have certain types of income (self-employment, capital gains or investment income) above a threshold.

    • gerdesj an hour ago

      I've been doing Self Assessment for 25 years. In the first few years it was fill in a colourful paper form which won awards for clear English etc. Nowadays it is online with many details pre-filled in. At the end you can download a .pdf that looks exactly like the paper form or not bother.

  • rurban 2 hours ago

    They do provide the forms, you simply fill them out. I did that every year without consulting any specialist or extra services. Much easier than in Europe. It was a 20min affair.

  • eloisant 2 hours ago

    The whole point of the article is to answer to that question.

  • ZenoArrow 2 hours ago

    > I never understood why the Revenue can't provide a set of simple online forms for tax returns like India does.

    Did you read the article? The TL;DR summary is that the US government has proposed doing this in the past, but has been lobbied against it by companies that seek to profit from software to help prepare tax returns.

  • bilekas 3 hours ago

    The tax system in the US is complicated, you've got different state taxes as well as the federal, for example if your kids go to a different state for school than you live, add that your partner might work in another state, maybe they have different relief taxes for disasters through the year. It might very well be a feature but it is complicated, and the more activities you have, maybe investments, a small business, multiple jobs. It becomes overwhelming for non accountants.

    • Xss3 37 minutes ago

      This american exceptionalism is such a meme. You aren't special.

      The propaganda must be pretty special to have you so convinced though.

    • skeletal88 7 minutes ago

      You are not special, other countries have complex tax systems too and have figured it out, but you just refuse to and make excuses

    • crote 3 hours ago

      Sure, but what about the >95% of the population which doesn't fall under weird edge cases?

      Why doesn't the US provide a free 10-minute online wizard for them, like plenty of other countries are already doing?

      • hgomersall 2 hours ago

        Even the complex cases fit into an overarching tool. Most people in the UK don't submit tax returns because they don't have any income beyond their salary. Even if you do, you then use the tool which asks you a series of questions like "do you have a student loan?" and "did you receive any dividend income?", then you have to fill in some next level detail if those are true. I'm sure there are people with weird tax arrangements that need to work outside of the wizard, but I'd wager it was less than 1 in 1000, and those people tend to have the money to pay for fancy accountants to do it for them.

        • graemep an hour ago

          You also only need to fill in a tax return if you have income (or capital gains) above a threshold. SO having some interest paid on a savings account etc or a small side business or selling an asset at a small profit above what you paid for it does not mean you have to make a tax return.

        • zkmon 2 hours ago

          This is true for some European countries too. No tax filing is needed for salary only income. I don't remember when I filed my taxes last time.

    • tchalla 2 hours ago

      Many other countries also have complicated taxes and are able to provide a better user example to non accountants. The US isn’t special.

    • Beretta_Vexee 2 hours ago

      I know French people who live near the Swiss border and who file their tax returns in a matter of minutes because all the information is pre-filled via their employer's income statement and their bank.

      They are two different countries, and Switzerland is not a member of the EU.

      When French bureaucracy is simpler and more efficient than your tax collection system, you have a problem.

    • zegl 3 hours ago

      Many other countries have figured this out since the early 2000s, the US could do it as well if they wanted to.

      • xnorswap 2 hours ago

        Sometimes I think the most exceptional thing about the USA is exceptionalism.

        Solutions to problems that are solved elsewhere are pushed back against, because "The USA is fundamentally different".

        Other countries have states too. The UK even has a country with an entirely different legal system (Scots Law), but we still make our collection of income tax system simple.

        A "complicated tax system" (if that is the root cause) is not something that is impossible to change. It is within the gift of the government(s) to change that.

        The lack of appetite for change is the result of decades of lobbying for the status quo to continue.

        • graemep an hour ago

          I half agree with you in that the UK makes the tax system administratively easy for most individual tax payers.

          That said, i think the system as a while is far too complicated. The application is simplified, but the rules are far too complex.

      • Thlom 3 hours ago

        We got pre-calculated returns as an alternative in the early 90's, by the time I got my first real job in the early 00's everyone used the pre-calculated one and just made changes as necessary. The first years I got my tax return in the mail and I think a few years I had to mail back a signed copy, but these days everything is digital and if you don't have to make any changes you don't have to do anything at all.

        Back then you also had to physically deliver your tax deduction card to your employer so they could deduct tax correctly, but these days that is also digital and salary systems just fetches the current deduction card before running salary jobs every month.

jopsen 3 hours ago

Paying to file taxes, and then getting you tax refund as an Amazon gift card -- that's very American :)

  • zkmon 2 hours ago

    What? I just googled, and found it is actually a real thing. Holy molly! Has Amazon become a federal system for distribution of money and goods? What next? coupons for burgers, Netflix credit?

    • saagarjha 2 hours ago

      I assume this is done by the company, not the IRS.

  • timeon 2 hours ago

    Boring dystopia.

jameslk 4 hours ago

It seems their business model is more existentially challenged by LLMs these days. I’m waiting for the regulations preventing AI being used for taxes and legal counsel

Edit: This is timely being on the homepage: https://news.ycombinator.com/item?id=45601230

  • dguest 3 hours ago

    I agree, tax prep will probably be done by AI soon, for better or worse.

    On the other hand, there's a broader business model here: lobbying to obfuscate mandatory government paperwork so that a 3rd party service is practically a requirement. It's not difficult to see AI companies expanding into that industry.

  • f33d5173 3 hours ago

    There are many things I would trust an AI with, but my taxes are not one of them.

    • tempestn 3 hours ago

      Certainly not to do your taxes, but they're useful for tax questions, as long as your verify the responses.

    • Ferret7446 3 hours ago

      Taxes are actually not a bad problem for AI, because a lot of the final calculations can be easily verified/sanity checked. The AI won't be able to get away with any math errors, the issues you'll likely see are incorrect categorisation of income or suboptimal deductions. The substeps like categorisation shouldn't be too difficult to manually verify

      • eloisant 2 hours ago

        Don't use AI for tasks where you don't have the qualifications to verify that the result is correct.

  • itake 3 hours ago

    this seems to fall into the category of Intuit offering AI (RAG/MCP + tuned base model) and not people directly going to chatgpt for half-baked advice (and still needing to fill out all the forms and perform hand calculations themselves)?

ChrisArchitect 4 hours ago