Just finished doing my federal income tax. As usual, I learned two things:
1. I need to have more withheld from my paycheck - time to write another big check.
2. We really need to have the FairTax put into place, and fast. I suspect my taxes are only a little more complicated than most, and I still don't understand all the little pieces of information needed. Why am I spending an hour trying to look up the cost basis for a stock I purchased eight years ago so that I can compute the capital gains tax on $5.90 received as cash in lieu of a fractional share during a merger? Is this really the best use of either my time or the government's?