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FAQ

How could the federal government and state governments make it easier to fill out tax returns?
Individuals who don't own businesses spend tens of billions of dollars each year (in fees and time) filing taxes.  Most of this is unnecessary.  The government already has most of the information it asks us to provide.  It knows what are wages are, how much interest we earn, and so on. It should prthe information it has on the right line of an electronic tax return it provides us or our accountant.  Think about VISA. VISA doesn't send you a blank piece of paper each month, and ask you to list all your purchases, add them up and then penalize you if you get the wrong number.  It sends you a statement with everything it knows on it.   We are one of the only countries in the world that makes filing so hard. Many companies send you a tentative tax return, which you can adjust. Others have withholding at the source, so the average citizen doesn't file anything.California adopted a form of the above -- it was called ReadyReturn. 98%+ of those who tried it loved it. But the program was bitterly opposed by Intuit, makers of Turbo Tax. They went so far as to contribute $1 million to a PAC that made an independent expenditure for one candidate running for statewide office. The program was also opposed by Rush Limbaugh and Grover Norquist. The stated reason was that the government would cheat taxpayers. I believe the real reason is that they want tax filing to be painful, since they believe that acts as a constraint on government programs.
How much would an accountant charge me for filling out a Quarterly Federal Tax Return (941) in Texas?
For full service payroll I charge $100 per month for up to 5 employees.  That includes filing the federal and state quarterly returns and year end W2's.If you just need the 941 completed and you have all of your payroll records in order, then the fee would be $50 to prepare the form for you.  Note that you also need to file a quarterly return with TWC if you have Texas employees.
How can I fill out the income tax return of the year 2016-17 in 2018?
There is no option to file online return but you can prepare an offline return and went to the officer of your jurisdiction income tax commissioner and after his permission you can file the return with his office.
Is it better to pay completely out of pocket for community college, considering there is a federal tax exemption?
You appear to be referring to the American Opportunity Tax Credit. Please note that it is not a $4000 tax credit. It works as follows:The amount of the credit is 100 percent of the first $2,000 of qualified education expenses you paid for each eligible student and 25 percent of the next $2,000 of qualified education expenses you paid for that student.So the maximum credit is actually $2500. And if you owe less than that in taxes for the year, only $1000 of the credit is refundable. There are also limitations on who qualifies, please see the IRS link for more details.But the larger question is, are you better off saving financial aid for later? In general, if you are talking about grants, the answer is an emphatic NO. For a number of reasons. Among them:Just because she qualifies this year, is no guarantee that she will qualify 2 or 3 years from now.Pell Grants have a (current) maximum of 6 years at full-time status (or the part-time equivalent), so even a student who spends 3 years at a CC and then transfers to a 4-year school should be covered (if they remain eligible).Many state grants have a 4 year cap. However, in at least some states, students move towards that cap regardless of whether they are receiving the grant. That is, it only pays until your 4th year as a FT student (or the PT equivalent), even if you start receiving it in year #3.If you are talking about loans, taking loans and receiving the tax credit are compatible. You can do both.
For taxes, does one have to fill out a federal IRS form and a state IRS form?
No, taxes are handled separately between state and federal governments in the United States.The IRS (Internal Revenue Service) is a federal, not  state agency.You will be required to fill out the the necessary tax documentation for your federal income annually and submit them to the IRS by April 15th of that year. You can receive extensions for this, but you have to apply for those extensions.As far as state taxes go, 41 states require you to fill out an income tax return annually. They can either mail you those forms or they be downloaded from online. They are also available for free at various locations around the state.Nine states have no tax on personal income, so there is no need to fill out a state tax return unless you are a business owner.Reference:www.irs.gov
How much revenue would be raised by lowering the federal estate/inheritance tax exemption to $500k?
Probably more than double it. The UK has a 500k ish (in pounds) inheritance tax threshold and a similar tax rate(40%) and collects 5 billion a year compared to the U.S. just shy of 20 billion. Considering the U.S. economy is about 7 times the size of the UK and has similar individual wealth levels you can ballpark that if the U.S. dropped to that threshold it would at least double.Over time though it would skyrocket because of urban area housing price appreciation.