For many Americans, it's frustrating that beyond having to pay sometimes hefty tax bills, they also have to shell out more money for tax preparation programs or preparers.
will bring U.S. taxpayers one step closer to a government-operated electronic free-file tax return system.
"It’s definitely something we should do, and when the IRS is adequately resourced, it’s something that will happen," said Treasury Secretary Janet Yellen at a June Senate Finance Committee hearing. Perhaps this biggest hurdle is an agreement between the IRS and some commercial tax preparation companies, known as the Free File Alliance, which prevents the federal agency from creating its own free tax return filing system. In short, the IRS agreed not create its own filing system if companies would instead provide free services toThis program, though, has been marred with controversy, with commercial firms misrepresenting their services and low taxpayer participation rates.
Vanessa Williamson, a senior fellow at the Urban-Brookings Tax Policy Center, said "if the IRS moves forward with a free product, it could save lower-income families the money they used to give to H&R Block or TurboTax."
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Expanded IRS free-file system one step closer in Dems’ billThe flagship climate change and health care bill passed by Democrats and soon to be signed by President Joe Biden will bring U.S. taxpayers one step closer to a government-operated electronic free-file tax return system.
Read more »
Expanded IRS free-file system one step closer in Dems’ billThe flagship climate change and health care bill passed by Democrats and soon to be signed by President Joe Biden will bring U.S. taxpayers one step closer to a government-operated electronic free-file tax return system.
Read more »
Expanded IRS free-file system one step closer in Dems' billThe flagship climate change and health care bill passed by Democrats and soon to be signed by President Joe Biden will bring U.S. taxpayers one step closer to a government-operated electronic free-file tax return system
Read more »
Expanded IRS free-file system one step closer in Dems' billThe flagship climate change and health care bill passed by Democrats and soon to be signed by President Joe Biden will bring U.S. taxpayers one step closer to a government-operated electronic free-file tax return system.
Read more »
Some earning under $400,000 would see tax burden increase under Manchin-Schumer billDemocrats' Inflation Reduction Act would decrease the after-tax income of some earning below $400,000, according to a new analysis from Congress's tax scorekeeper.
Read more »