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Home Topics in Depth Economics Robots Will Soon Do Your Taxes. Bye-Bye, Accounting Jobs

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  • jeff47 (674 posts)
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    1. For the vast majority of people, taxes are really simple

    The IRS already has all the data to file your taxes if you are a typical paycheck-for-a-living person.  Your employer already sent it to them, as did your mortgage (if applicable), any investment accounts (if applicable), and so on.

    The IRS could just send you a pre-filled 1040 and have you sign it, making any tweaks they do not know about (like birth of a child).  But that would cut into the money paid to places like H&R Block and Intuit (makers of TurboTax).  So they lobby like hell against it.

    So it’s entirely understandable that these companies have created automated tax preparation.  Because tax preparation is really easy for the vast majority.

  • Bob the Bilderberger (86 posts)
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    2. I've been using TurboTax online for 10 years

    That’s about as robotic as you can get.

     

  • hollys mom (536 posts)
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    3. I shouldn't say this since my sister is an accountant

    (she is doing taxes free for seniors now, retired)

    But I had an accountant when I set up my corporation, he charged me 2K and gave me a large form to fill out before I saw him.  then he just copied and pasted from that form. So I kept the form and filled it out and copied and pasted the rest  of t he time by myself, I used to by the what has changed in the tax law to make sure I did not screw up from year to year. SO b asically, I Only used one once, mostly I have always done my own taxes.

     

    Oh and for years major corporations have been outsourcing accounting to India, First data entry, then engineers and programmers,  then lawyers and accountants.

  • FanBoy (6344 posts)
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    4. robots? they mean computers?

    besides which, accounting isn’t all about doing final taxes