[Analysis] This Is How We Finally Kill Turbotax
[Analysis] This Is How We Finally Kill Turbotax
Filing your taxes could be free starting this year. The IRS is running a direct-file pilot program. The goal is to make companies like TurboTax obsolete through a system where your taxes are filled out for you. But tax prep companies are spending millions to block them.
Why are Intuit and H&R Block so against making filing your taxes free and easy? Because they're making billions by charging you. Americans spend $31 billion each year on tax filing.
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I feel for you guys. I hope this comes off for you. In Australia we have had free, pre-filled returns for a while. 5 minutes and it's beer o'clock.