Subject: A one page (two sided) 1040 Comment: Burdensome is hardly adequate to describe the existing system. Most distubing regarding the status quo are the statistics indicating one third of the people who try to help give the wrong answer. A one page 1040 would work like this. On the front you give your name, address and so on. You fill in your gross income. That is everything. You multiply this number by 0.1. Most Americans can do that calculation--I hope. You sign and date the form and write the check for any tax due. Turn it over and list all your sources of income. There are no deduction, exemptions or special treatment for anything. Federal revenues would probably increase with this system. Everyone who has any income of any kind fills in a 1040 and files independently. |