Technology

59039 readers

3203 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

[email protected]

1182

IRS makes free tax return program permanent and is asking all states to join in 2025. This could deal a massive blow to private tax filing services such as TurboTax (apnews.com)

submitted 5 months ago by [email protected] to c/[email protected]

117 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 4 points 5 months ago* (last edited 5 months ago)

The IRS doesn't actually check most tax returns

That isn't true. They check all tax returns based on W2, 1099's and other documents they receive from corporations that paid you money.

An audit is completely different from the automatic checks that make sure every bank record of interest and stock sale lines up with what you claimed on taxes.

If you miss any stock sale or any reported income, you will get a computer generated letter from the IRS for the amount you owe. If you pay too much by accident, you will also get a computer generated check back from the IRS.

I make a mistake every few years and get a bill with fine or a check from the IRS. I no longer stressed about taxes because I know they will correct it for me in a few months anyway. The fine is small because I've luckily never made a big mistake. I've gotten back large checks for years I forgot I paid estimated taxes and overpaid my taxes.