death and taxes and more taxes
Ivanka Trump revealed she is a little fuzzy on the details of the Republican tax overhaul, telling the hosts of Fox & Friends on Thursday that she is looking forward to "doing a lot of traveling in April when people realize the effect this has" and claiming that "the vast majority" of taxpayers will be filing "on a single postcard."
On her first point, Trump isn't necessarily wrong to think that some people will be realizing the "effect" of the bill by April 2018. "When you file your 2017 taxes in April, you'll already be getting some benefits like lower tax withholding," Fortune writes, although "other perks won't show until you file your tax return in April 2019."
But while filing taxes via postcard has long been a White House talking point, it isn't likely to happen in actuality:
Tax experts say it's unlikely [taxpayers will file via postcard], and point out that America already has a one-page tax form.
The 1040EZ return allows single and joint filers without dependents to file their taxes as long as they aren't taking most tax credits and don't have more than $100,000 in taxable income.
"You can file with the EZ form, but it's probably not in your best interest," Mark Steber, chief tax officer at Jackson Hewitt Tax Service, a tax preparatory company, told NBC News. "I do not envision a scenario where our society is so simple and so standardized that ... 100 million plus Americans will pay a fair amount of tax and be equitably treated with nine lines." [NBC News]
Watch Trump's comments below. Jeva Lange