This is the Postcard You Could Be Doing Your Taxes On, if the GOP Tax Plan Passes

By NTK Staff | 11.06.2017 @10:00am
This is the Postcard You Could Be Doing Your Taxes On, if the GOP Tax Plan Passes

The House GOP rolled out their tax plan last week, touting an average $1,182 tax cut for a family of four and earning the endorsement of President Trump. One overlooked aspect of the rollout, though, was the Ways and Means Committee’s inclusion of a “Simple, Fair ‘Postcard’ Tax Filing.” This sample postcard, which President Trump […]

The House GOP rolled out their tax plan last week, touting an average $1,182 tax cut for a family of four and earning the endorsement of President Trump.

One overlooked aspect of the rollout, though, was the Ways and Means Committee’s inclusion of a “Simple, Fair ‘Postcard’ Tax Filing.

This sample postcard, which President Trump kissed at one point last week, would simplify the tax filing process for millions of Americans. Instead of filling out reams of paperwork through TurboTax or H&R Block, Americans could file – by paper or electronically, one can assume – a one-page postcard.

Here’s what that sample postcard looks like:

Postcard

The total postcard is 14 lines, six to determine taxable income (with either a more muscular standard deduction or itemized deductions for mortgage interest and charitable contributions) and eight to determine refund due or taxes owed.

According to a study released in April, the average tax filer spends 17 hours on his or her response per year, and the total cost to individuals and businesses is $86 billion per year. With this postcard, 17 hours could become 17 minutes for some filers.

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