IRS Introduces Free E-File Tax Return System, Posing a Threat to Major Tax-Preparation Firms
IRS’s Direct File System Poses Challenge to Tax Preparation Giants
The IRS the government agency that deals with taxes is trying something new. They have made a system called Direct File that lets people file their taxes for free online. Right now it is only available in 13 states but it could change how Americans do their taxes. This new system is a problem for big companies that help people do their taxes like TurboTax and H&R Block.
Richard Kaplan who knows a lot about taxes thinks the IRS is a big problem for these companies. He says that other countries have better ways for people to do their taxes online. In places like Japan and England they give people forms that already have their tax information. This makes it easier to do taxes. The IRS wants to do the same thing in the U.S but the tax companies do not like it.
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Major Tax Preparation Firms Withdraw from IRS Partnership Amidst Low Usage
The IRS tried to help people do taxes for free before. They worked with companies like TurboTax and H&R Block but not many people used it. Now those companies have left the program. They say people do not want the government to do their taxes. It is hard to say what will happen next but this could change how people do their taxes in the future.
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