Tax
Sep. 8, 2023
Are tax preparation companies actively working to undermine the IRS’ direct file system?
Many taxpayers spend hours itemizing deductions without realizing that the standard deduction is often a better choice, which some tax preparation companies don’t highlight to encourage paid options.
In the Summer of 2022, President Biden signed the "Inflation Reduction Act." Among other things, the act provided $80 billion to be set aside for the Internal Revenue Service. The funds would be disbursed over 10 years. As part of receiving the funds, the bill required the IRS to provide yearly spend reports and updated progress reports. One project has been making waves - the attempt at creating a direct free file federal tax system.
Since...
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