According to PANews, the U.S. government, under the leadership of President-elect Donald Trump, is exploring the development of a free mobile application for tax filing. This initiative, spearheaded by Elon Musk and Vivek Ramaswamy through the Department of Government Efficiency (DOGE), aims to streamline the tax filing process for American taxpayers. Currently, the proposal is in its preliminary discussion phase. Musk and Ramaswamy have been vocal advocates for simplifying the tax code, and if implemented, this plan could significantly enhance the efficiency of the U.S. tax system.
The proposal, while intended to improve tax filing efficiency, faces several challenges, including the complexity of the tax code and the difficulty in obtaining necessary expenditure documentation. DOGE highlighted on social media platform X that the U.S. tax code has expanded from less than 1.5 million words in 1955 to over 16 million words today. Americans collectively spend approximately 6.5 billion hours annually preparing and filing taxes, underscoring the importance of tax code simplification.
Currently, the Internal Revenue Service (IRS) offers a web-based free filing program but has yet to introduce a mobile application. The potential move by DOGE could pose a challenge to existing tax service companies, as evidenced by a decline in the stock prices of several accounting and tax service firms following the announcement.
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