[84porsche]

This will put a great deal of tax preparers out of business. A great deal of tax preparers make a great deal of money filing extensions for clients. If they do something like this, their is no way to differentiate between classes (poor, middle, rich, etc.) - I would venture a guess that a system such as this would take at least 10-15 years to implement, not too mention training of people to handle this and a restruture of the administrative agencies to manage this new system. I do have a strange feeling that people will be doing things under the table more if a system like this comes about. Also, I would be curious how corporations and businesses would be taxed.