Congress Introduces Bill to Have IRS Automatically Fill out Tax Forms

[mrichman333]

It was tongue and cheek! But if you think about it seriously Greece, Cyprus or for that matter any other country can't do what America can do! I don't see Americans rushing to buy Greek or Cyprus bonds but the rest of the world wants to buy our bonds. Why? Because they trust the mighty dollar as the most stable currency. America is in a position where it can print more money without significant devaluation of its currency.

I will bet my money on the good old American dollar!

The US Dollar is not what it used to be; for example when I went to Australia back in 2005 the US dollar got me 2.2 Australian dollars to day it only gets me .97

That is not because the Australian dollar has strengthened but because the US dollar has weakened. It’s the same situation with other countries I have visited. I’m glad I went when I did

Because I couldn’t afford to today with the exchange rates.

These numbers alone should wake our politicians up, but it won’t. Their all addicted

To spending.

[Guest Taxed]

I would not want the US dollar to be so expensive, that our exports become over priced compared to Europe or Asia. It is a fine balancing act. Remember how China keeps it currency devalued to make its exports cheaper for the rest of us.

As you can tell I would bet on the good old green dollar over any other foreign currency in the long term.

I feel sorry for a few of my clients who are heavily investing in the Iraq Dinar through an outfit called Sterling Currency, in the hope that they will get a 10 fold return very shortly. I am afraid toilet paper may have better use than that currency!

[jainen]

>>a already containing information received from employers and banks<<

This is a GOOD idea, folks! Make our life easier. Remember all the complaints about typing W-2's in the early days of e-file? Why should I have to tell the IRS what it already knows? Eventually they are going to match it all anyway, so why not at the beginning? Sure we will have to verify and maybe correct or interpret some stuff, but at least that won't also be our own typos!

And we won't have to argue with the client so much, for example about needing to report the 1099-R code 1, even though "I already paid taxes on it." No more "My preparer must have lost the form" either. I hope they include 1099-Misc too.