They measure the degree of agreement between the prepopulated and actual tax returns in two ways. Pre population would be most accurate for taxpayers who are single, lack dependents, have no credits or deductions, and whose only income is wages under $100,000. The researchers then compare their prepopulated tax returns with the actual returns that taxpayers filed. This includes information on wages (Form W-2) unemployment compensation (Form 1099-G) interest, dividends, and capital gains (Forms 1099-B and 1099-DIV) nonemployee compensation (Form 1099-MISC or 1099-NEC) and income from partnerships and S corporations (Forms 10S, Schedule K-1).
Using a random, representative sample of 344,400 anonymized individual federal returns filed in 2019, the researchers prepopulate tax returns with income data reported directly to the IRS.
More than 40 percent of filers, particularly filers with lower incomes, could save that money and time if the Internal Revenue Service (IRS) prefilled their tax returns, Lucas Goodman, Katherine Lim, Bruc(e Sacerdote, and Andrew Whitten find in Automatic Tax Filing: Simulating a Prepopulated Form 1040 (NBER Working Paper 30008). Transportation Economics in the 21st CenturyĪmericans spend an average of $200 and 12.5 hours per year filing individual income tax returns.Training Program in Aging and Health Economics.The Roybal Center for Behavior Change in Health.Retirement and Disability Research Center.Measuring the Clinical and Economic Outcomes Associated with Delivery Systems.Improving Health Outcomes for an Aging Population.Early Indicators of Later Work Levels, Disease and Death.Conference on Research in Income and Wealth.Boosting Grant Applications from Faculty at MSIs.Productivity, Innovation, and Entrepreneurship.International Finance and Macroeconomics.
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