How The 1040 Form Is Linked To Stocks

Quick: when you hear "1040 Form," what do you imagine of?

Taxes, yes, IRS, yes, April 15th, yes - but anything else?

Money? Yes, you're getting warmer....

More particularly, "money" just as "investment," as in "stock market." As in companies like H&R Block (HRB) and Jackson-Hewlitt (JTX).

Talk about the 1040 Tax Form and if you think very hard or very long enough, you'll eventually think of the tax preparation industry. So, think about it? Well, how about the truth that it's an excellent line of company to invest your cash in? After all, there's a captive audience associated, and even though profits are seasonal it's guaranteed every year since practically everyone has to file a return!

A actual winner, right?

Not really. Not anymore.

Like just about everything else in our world, computers have modified things significantly.

Tax preparation software persists to be popular, and its utilization is even developing now that web-based services are available which require no installation procedures on one's computer. The truth is, many of these web-based services are sometimes free - that's right, free!

It's not because the companies supplying them are doing it out of any altruistic desires, needless to say. In fact, far from it. For the IRS was about to take advantage of modern technology - finally - and offer online tax preparation and filing to all for free, but the industry lobbied heavily vs the idea. It would, after all, put them out of business. And while jobs are important, so is serving the public good. And though jobs definitely fall within the description of a public good, so is making government more accessible.

So, where to start?

A compromise was brokered which lead to online tax preparation software being free for those making under twenty-five thousand dollars a year roughly. In exchange, the government have agreed to not offer their own free preparation and filing service at the IRS website!

Now back to stocks.

Having preserved fee-based online preparation and filing services, the companies offering them stand to continue getting money - without a doubt, to continue increasing their income as progressively more people log onto the web to do their taxes. This puts those running brick-and-mortar operations, such as H&R Block and Jackson-Hewlitt, on the same road the dinosaurs found themselves, the fast track to annihilation.

So, what to do?

The writing's on the wall. It's only a matter of time before hardly anyone will do tax preparation and filing offline! The truth that some of these forms are entirely ridiculous and a waste of time, not to mention money which is also quite as important, but there are counter forms to retaliate against time- wasting forms which virtually do absolutely nothing with no benefits whatsoever, that is, depending on what the cause may be. Makes sense right? Well in a nutshell let's just say now they have much more proper forms which are appropriate and accounts directly to the cause of the form rather than a general form which follows up an appointment to illustrate to the guy or woman what the actual reason is in filling up that form…maybe more. Makes more sense now doesn't it?


------

Article by Paul Wise. When it comes to the 1040 form, Paul recommends 1040-form.net for great advice on the 1040 Form for you.