IRS Wants To Do Your Taxes

Imagine this scenario: The IRS may soon just do your taxes for you — and send you the bill. If this sounds farfetched, it’s not.

With a new congressional “super committee” tasked with finding $1.5 trillion in cuts by November, creative ways to find additional revenue are in high demand. And allowing the IRS to prepare you taxes could be one solution.

The idea has been around for a while. In 2006, Senate Finance Committee Chairman Max Baucus (D-Mont.) argued it would close a $345 billion annual difference between what the government believes taxpayers owe them and what the IRS actually collects, which he calls the “tax gap.”

“I think the solution [to the tax gap problem] is to get rid of the middle-man and no fees required,” he said.

NOTE: I'm sure that Max of Montana should lead by example and allow the IRS to send him his tax bill.