TurboTax maker Intuit spent millions in record lobbying blitz amid threats to tax prep industry
TurboTax maker Intuit spent millions in record lobbying blitz amid threats to tax prep industry
TurboTax parent company Intuit spent millions in a record lobbying blitz amid government scrutiny and threats to the tax prep industry.
TurboTax maker Intuit spent millions in record lobbying blitz amid threats to tax prep industry::undefined
Fuck Inuit. Get the fuck Outufit
Wouldn’t it be wild if the government just…sent us our refund or our bill? Because they know how much taxes we owe or how much they owe us without needing to play the stupid fucking “gather all your forms” and put it into the right fields game.
That would also completely solve this problem by eliminating the need for turbo tax to exist at all.
For the very rich, its extremely hard to know what they own, filing taxes allows them to hide all the details.
So your government could do what the commenter above suggested for 99% of the population. Got it.
Because that’s what they do in my country. Your income is pre-filled, and most people don’t need to do anything other than double check it and click submit. If you want to get tax breaks for edge cases like uncovered medical care, extra schooling, travel costs as a freelancer, etc., you just follow the mostly easy steps and fill that in.It's not just for the rich. I'm by no means rich but firmly in the middle class. I withhold the standard calculation based on the IRS' own formula and i get a pretty decent refund every year. Mortgage interest, charity donations, and student loans (all things lots of people have) reduce tax burden a decent amount.
The IRS does have some free options at https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free as the article mentions, but make sure not to take the bait and switch if you go with one of the companies like TurboTax.
Aren't those all part of the Intuit lead coalition, the Free File Alliance, which kept lobbying against the IRS creating their own free tax filing tool among other issues?
Note: Intuit and H&R Block left the coalition in 2021, after a no competition from IRS rule was lifted and the IRS announced making their own free tax filing tool.
Free File Alliance, wonderful name. Like a cult sponsored group trying to catch ex cult members.
"No, you can't give this to people for free and make their life easier! Then we can't make them pay for it anymore!"
I remember when I used TaxSlayer because it was from this link...lol
🤬😔
I don’t have a complex tax return but I’d rather pay an accountant to file my federal return for me than give these companies my business.
Whenever I can efile my return without giving intuit, hr block or other mega corp my business, that will be a great day
Don't know if they're a mega corp, but FreeTaxUSA has been great for me. Free for simple federal tax returns.
They are part of the Free File Alliance lead by Intuit that lobbied to prevent the IRS from creating their own free tax filing tool.
Not like we have much choice when it comes to free tax filing until IRS gets their direct file up and running for all.
They're scared. If it's available, fill for free. Ask your representatives to increase the program. Let them burn through their money.
Intuit should try to create something new, as opposed to ride TurboTax for its revenues! They could make a banking app to replace what they did to Mint!
I interviewed with Intuit a few months after they purchased mint. When I told them I was using it, they all pretty much said they bought mint to prevent them from taking their market share. Their entire business model is restricted access and lobbying.
Gross. But also, isn't that, like, the capitalism endgame? Good for them, I guess?
But also gross.
They have QuickBooks I believe, which surely makes them money as well.
Fucking Quickbooks is a warcrime.
Hell maybe they could fix their current garbage that they purchased like Tsheets and Workforce
Tax payers aren't the customers. Intuit is the customer here and they are buying income streams from politicians. It's an artificial and unnecessary system.
I mean, considering inflation, I expect every year to be a record spending year.
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Are you feeling superior over not filing your taxing?
The most likely scenario here is that if were you to file, you'd receive a refund. The IRS will happily keep your money.
However, if you have mucked with your deductions such that you are underpaying, you're playing a dangerous game.
As they say, fuck around and find out. In this case the fuck around part will especially unpleasant.
Hope you maintain cash only lifestyle because they will empty your bank accounts. They will garnish your wages. They will get a their money with penalties and interest.
Don't forget the 1 year of jail per year of not filing taxes if considered tax evasion. If you cannot pay your taxes they cannot jail you. Aka, file your taxes and don't pay your taxes and you should be fine. Don't file or pay and you might get hit with tax evasion eventually. More likely just get hit with an extra 25% of his taxes he didn't pay as it goes up by 5% a year until it stops at 25.
Wait. What's wrong with TurboTax? It's so easy. Why would anyone pay a human instead? Why would a human want to do any of this?
TurboTax lobbys the US Government heavily to keep free alternatives from existing. At one point in time, the IRS was going to allow everyone to be able to report their taxes directly via their website and Intuit and the rest of the tax preparation software developers moved heaven and earth to kill the legislation that would have allowed it.
So, to answer the question, there's nothing wrong with TurboTax except for the fact that it's run by a private company that charges you a fee for something that the federal government could operate for free. If you want to keep paying a 3rd party to send the IRS the information they already have, then the system works just fine.
The IRS launched a free direct file this year though that some taxpayers can use.
The point is that we shouldn’t have to do taxes ourselves in the first place. The IRS have the necessary numbers, they know what we owe or are owed. Intuit continuously lobby to keep the current system in place, while advertising itself as “convenient”, and it is, but only within the system they helped create and help maintain.
Agree but also disagree. The IRS has some of that info, but not all of it. While it's true that most (ie >50%) people the govt knows everything, there are plenty of free options. I filled out the 1040EZ for many years before I couldn't anymore. It was less than an hour of my time. That's still available online and in paper. The only thing missing is the govt prepopulating a few numbers, which isn't much of a benefit.
The tax code could be simplified, but the argument being made here is that most people are forced to use tax software because it's too hard to do your own taxes. But it's actually the opposite... Most people are fine with the 1040EZ. The 25% or so that have more complex tax situations will always be happy paying $50 for x software to get a $3k return or pay an accountant $300 to do it.