IRS makes free tax return program permanent and is asking all states to join in 2025. This could deal a massive blow to private tax filing services such as TurboTax
IRS makes free tax return program permanent and is asking all states to join in 2025. This could deal a massive blow to private tax filing services such as TurboTax
The IRS will make permanent the free electronic tax return filing system that it experimented with this year.
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I’ll be the contrarian - this could be good for Intuit.
They were already forced to support free filing for simple returns. This IRS Direct File has similar eligibility, so Intuit already wasn’t making money off them, but now Intuit also doesn’t need the cost of scaling up for them
Intuit gets to take a bunch of freeloaders off their support costs, and can focus where their real profits are: people with more complex returns or higher income, that also don’t need an accountant
Intuit also gets to act less scammy. The only way they were making anything off those freeloaders was selling them things they don’t need
They made money off upselling people who thought it would be free. Or another way was to wait to tell them about the charges until you've spent a couple hours on the application. ...or the way they would sell you last years tax information back to you to save you a few hours filling out forms.
United states of monetization.
Well you can also do what I do which is select the most expensive options. Figure out everything then copy the details onto a free file option and never pay them.
Appreciate the tip!