UIowa tax expert says it's time for many American taxpayers to quit completing their own 1040 forms when the IRS has all the information it needs to do it for them.

Ryan Wilson, professor of accounting in the University of Iowa Tippie College of Business, believes it's time American taxpayers quit sweating over their 1040 forms and let the IRS do that work for them.

He urges the U.S. to adopt a system called ReadyReturn, widely used in European countries, that prepares peoples' taxes automatically for free. He said it can benefit more than 90% of American taxpayers who have only withholding taxes and 1099s because the IRS already has all the information needed to complete their tax form. 

He said this would save Americans a tremendous amount of time, money, and anxiety.

He says that ReadyReturn is used in many European countries—like the UK, Denmark, Sweden, and Spain—where the government prepares your tax return for you. They mail you the return and, if you agree with what the government says you, all you have to do is sign off on it.

And it’s free.

More complicated returns would still need to be completed by a professional. And if someone wants to do their own return even if they’re eligible for a ReadyReturn, they still can, he said. But for most Americans, it would make tax prep season far less stressful. 

Ryan is available for phone and zoom interviews. 

Link to biol: https://tippie.uiowa.edu/people/ryan-wilson