EDIT: A lot of you are reading into the tweet while still somehow agreeing with the overall message. No one is saying we should eliminate music programs or that we should teach toddlers about healthcare plans. The tweet is making this thing called a --checks notes-- joke, that also conveys the message that schools could teach more practical skills that young adults will need going forward.

  • merc
    11·
    11 months ago

    Refigure your depletion deduction for the AMT. To do so, use only income and deductions allowed for the AMT when refiguring the limit based on taxable income from the property under section 613(a) and the limit based on taxable income, with certain adjustments, under section 613A(d)(1). Also, your depletion deduction for mines, wells, and other natural deposits under section 611 is limited to the property’s adjusted basis at the end of the year, as refigured for the AMT, unless you are an independent producer or royalty owner claiming percentage depletion for oil and gas wells under section 613A©.

    • brbposting
      1·
      11 months ago

      And why* can’t we just get a pre-filled tax return and confirm it yes/no?

      Because that would hurt the poor b/c only the wealthy would still hire tax experts if tax returns were pre-filled.

      Naw, the current system doesn’t hurt the poor at all!

      *according to lobbyists like Intuit, maker of TurboTax

      • merc
        2·
        11 months ago

        I think the bigger issue is that too many of the non-poor are willing to vote against their own interests. Europeans don’t hate paying taxes, but they want it to be simple. Americans hate paying taxes, and too many of them can be conned into thinking that it’s bad if the government makes it easier.