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IRS, you suck at your job (sort of)
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1/2/2015 9:19:54 AM
Posted: 2 years ago
It is January 2nd, 2015. Guess what I cannot do yet?
That's right, my taxes from last year. The forms are still being produced, and, more importantly, so are the instructions.
I find it appalling that in the last two years, the IRS has been unable to provide the necessary documents needed to prepare taxes, let alone prepare for next year. Now, while this is partly their fault, the last minute deals that Congress likes to drag its feet on that affect the tax code does not help, nor does the fact they retro-apply to the entire year.
For example, mortgage insurance premiums appear (I say appear because it is listed with "see instructions") to have been renewed again, for the second time, both last minute, as this deduction was supposed to end in 2012. Obviously, the IRS needs to update the forms when this occurs, and since I believe this law was passed in mid-December, the IRS can't be too blamed for late updates.
But, seriously, this is the MAJOR way the federal government receives revenue, and you'd think that because of this, the Congress and IRS would care more about the taxpayer who needs to figure out if they owe, or is trying to calculate a year ahead (1040 ES) . For example, with the aforementioned deduction, that could be a difference in federal tax of $150-250. Not much of a swing, but annoying nevertheless.
Keeping in mind that for those like me, who try to owe money at the end of the year, we CAN be penalized, and this penalty accrues interest daily. So, if I have to wait even a day for them to finalize the forms, that is money it costs me. Unacceptable.
Last year, if I recall, forms weren't finalized until late January. Also, for tax year 2010, certain forms weren't ready until mid-February (namely Schedule A).