Why Doing Taxes Is So Hard | Patriot Act with Hasan Minhaj | Netflix
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Channel: Netflix Is A Joke
Views: 1,515,261
Rating: 4.9111705 out of 5
Keywords: Patriot Act with Hasan Minhaj, Patriot Act, Hasan Minhaj, Netflix, Netflix Original Series, Netflix Series, Television, Television Online, Comedy, Featured, Comedian, Hasan Minhaj Comedy, Hasan Minhaj Stand up, Global News, Politics, Late Night Comedy, Late Night Talk, Indian American, jokes, talk show, India, Taxes, IRS, Tax Season, TurboTax, Fraud, Scam, Money, Finances, Financial Crash, Coronavirus, Stimulus Checks, Donald Trump, COVID 19
Id: 7xQQkzWhMOc
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Length: 25min 25sec (1525 seconds)
Published: Mon Jun 29 2020
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I'm a CPA working in public accounting and this is all accurate. Intuit sucks ass.
One thing he didn't touch on is that Intuit and other tax software providers also lobby for the individual calculations to be as complex as possible. This way, people need to rely on tax softwares when they don't have health insurance and need to calculate the penalty or they get their health insurance from the government marketplaces.
As a knowledgeable tax preparer, I can do the calculation for the new 20% deduction for business income by hand if I needed to. But that involves some arithmetic based on a number of variables (what type of business the client is, how much non-business income is reported on their return, their annual payroll cost, retirement deductions, etc). That arithmetic will take me 5-10 minutes to do it and double check my work to make sure I'm right. Meanwhile the software can do all of those calculations in a fraction of a second.
These software companies want every aspect of filing your return to be as complicated as possible without them, so they look like they're providing even more value.
I explored Hasan's Turbo Tax Sucks Ass site which basically just directly links you to each software's version of the IRS Free File program. I believe it's all supposed to be the same thing but just with different software but they all have different requirements to qualify... pretty weird.
Of course, TurboTax is still sucking ass here with the lowest threshold and hiding the end cost to you as much as possible
I'm from the UK so only people classed as self employed have to worry about tax returns everyone else is on a paye system and its all done automatically.
I love watching this guy he seems to try and make things easier for people but it seems every time I watch him he brings more and more stuff up that makes america come accross as such a corrupt pos country, feel sorry for you all having to put up with it.
Wish we had someone over here doing what he does i'm sure there is plenty of stuff he could find.
Ballsy to do that Netflix jab. Very hilarious though. Worth the risk!
Like John Oliver, Hasan is a a goddamned national treasure. The fact that the website shown at the end actually exists is proof enough. A literal "faith in humanity restored" moment.
freetaxusa.com is the way to go but you'll never find them with a google search if Intuit has their way...
I remember Reply All did something on this also. It was very good.
Does everyone do their taxes in the US? Or just high earners? Like does an 18 year old working at McDonalds have to do taxesv ?