The only sound financial path for the US and elsewhere is to terminate fiat toilet paper that happens to have lots of green ink on it, and institute Constitutional money backed by PMs.
Posted on 01/10/2024 7:27:43 PM PST by Red Badger
The Internal Revenue Service (IRS) plans to roll out a free way to file federal taxes, much to the chagrin of tax preparation firm TurboTax.
The IRS is launching a pilot plan, known as Direct File, that will offer a free way to submit taxes for U.S. workers. In December, the agency published its plans for an in-house filing system that taxpayers can use to submit their federal tax returns at no cost.
Residents of 12 states that meet certain income criteria will be able to try the new service. To qualify, filers need to opt for the standard deduction and maintain income within the confines of wages documented on Form W-2, Social Security or unemployment, along with interest income not exceeding $1,500.
The pilot will be available only to taxpayers living in Arizona, California, the District of Columbia, Florida, Massachusetts, Nevada, New Hampshire, New York, South Dakota, Tennessee, Texas, Washington and Wyoming.
"This is a critical step forward for this innovative effort that will test the feasibility of providing taxpayers a new option to file their returns for free directly with the IRS," IRS Commissioner Danny Werfel said.
(Excerpt) Read more at newsweek.com ...
I have used TurboTax home and business for many years and I have been using federal web sites for years.
TurboTax works great. Not one federal web service works well, if at all
That’s good. Their newest ad features a homosexual couple filing taxes. Or something like that.
Based on the history of government computer systems, the first year or two will be a horror show.
I imagine it will be hacked relentlessly. ALL the financial info is too tempting to hackers................
In other news today the IRS announced another pilot program called tax matching.
Qualified minority taxpayers can file their taxes free and the IRS will match their tax payments resulting in an offset and zero tax.
I used TurboTax last year like I’ve done for the last 15 yrs. I submitted the extension form through TT for the first time and thought everything was fine. After I sent my return in October I got a bill from the IRS that I owed $13 because I submitted my return late! Thankfully, I only owed $115 this year so the hit was minimal. Somebody, somewhere, screwed up, so I don’t have high hopes that this new rollout will be easy peasy at all.
The only sound financial path for the US and elsewhere is to terminate fiat toilet paper that happens to have lots of green ink on it, and institute Constitutional money backed by PMs.
It may work but you pay for what you get.
” known as Direct File, that will offer a free way to submit taxes for U.S. workers”
1/2 the country has no federal tax bill.
the other half have the wherewithal and inclination to keep private and pay as little as legally possible.
This seems like a solution in search of a problem.
That’s Great Big Goobermint in one small package.
In my past job experience with federal computer systems, the agencies whose computerized communication systems were important to them did well, as did the USAF systems. My experience with all the rest were decidedly mixed.
The executive branch also seemed to do systems right.
A friend of mine retired from my company in Maryland, and went to work as a cable TV/Internet installer. Sometime in the mid-2000’s, he installed a cable TV system in the White House. President Bush gave him a written commendation for professional work and conduct. That was good for a $5000 bonus from his employer.
TurboTax needs to check the laws.
There are state laws prohibiting government competing against private business.
In North Carolina this is certainly the case.
There was a planned fishing pier on the beach. It was to be run by the state of North Carolina. But it would compete against private piers. So the plan was scrapped.
There may be an applicable federal law.
BTTT!!!
The IRS used to help taxpayers file their taxes, up until roughly 1955.
Then they stopped the assistance, first in Kansas City.
Henry Bloch and his brothers started helping the stranded taxpayers, and in the Spring the H&R Block tax prep services started.
I am sure that the IRS wants to copy European countries that send out a completed “1040” for signature.
I am also sure that American trust in the IRS can go even lower, starting with this mistake.
We can’t call the IRS and expect an answer, and incorrect answers from IRS agents are not actionable.
I’ll gladly pay TurboTax to be the go-between between the
IRS and myself.
Yeah, let the IRS run my taxes for me? What could go
wrong?
Once the IRS drives others out of business, watch how it
turn things into a horror show.
Not interested in the slightest.
if the national sales tax ever gets passed with the simultaneous permanent elimination of the income tax, turbo tax would go belly up.
Followed by a lifetime of mediocrity and incompetence.
You just made up that “IRS Tax Matching.” I know because a real program would give minorities 2X to 3X their payments back, not just 1X.
Intuit has been working had for over 20 years to deliver software to end users. Part of that effort has resulted in less work for bookkeepers, payroll processors, CPAs, and so on.
Intuit has numerous connections and data access to IRS and state income tax agencies. With everything Intuit does and owns it seems anything the IRS does will be insignificant to the bottom line.
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