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31%  
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Keyword: directfile

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  • TurboTax Faces Major Threat to Its Business

    01/10/2024 7:27:43 PM PST · by Red Badger · 38 replies
    Newsweek ^ | Jan 08, 2024 at 10:53 AM EST | By Aliss Higham
    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...