There has been a lot written about Senator Warren’s introduction of the Tax Filing Simplification Act of 2016, legislation that would overhaul the tax return filing process for millions of Americans and require the IRS to do much more in terms of making “third-party provided return information” available to taxpayers in real time. A link to Senator Warren’s press release from the other day has all sorts of goodies, including the bill’s text, a letter in support from an all star cast of academics (including the brilliant Stanford Law Prof Joe Bankman) and a scathing report critical of the return prep industry.

While there is likely to be a healthy debate on the merits of the legislation calling for the IRS to develop online return prep software that all Americans can access, one part of the legislation seems to me to be a no-brainer is requiring IRS to make third party return information available to taxpayers and preparers in real time. As Americans are scrambling to meet this year’s filing deadline, one painful aspect of prep time is struggling to find or remember the myriad information returns issued by payors and financial institutions. As more Americans work for multiple employers and as so many working Americans change residences it can be a struggle to make sure you have all of what you need when it comes time to file.