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This is overly optimistic. Intuit is the leader in this space, and they haven't produced a compelling new feature in decades. They have spent far more of their
by RIMR 3y ago
This is overly optimistic. Intuit is the leader in this space, and they haven't produced a compelling new feature in decades. They have spent far more of their energy fighting the government to maintain their status quo than doing anything material for their customers. They even have gone as far as to lie to their customers about their eligibility for free filing just to skim a little bit off the top of the lowest earners. Even in the presence of competition, the barrier to entry is so high that Intuit has maintained a virtual monopoly on home tax preparation. They will fight to uphold/regain that before they ever fight for you.
Yes, there are alternatives, but what possible enhancement could any of them provide that is worth anything? Tax preparation is largely deterministic, and maximizing deductions is a largely human-lead task that is only beneficial to higher earners who have an accountant that does their taxes for them and don't care about services like TurboTax and FreeTaxUSA.
For most working class Americans a guaranteed free solution provided by the IRS itself is a no-brainer. You know that the government isn't in the business of maximizing profits at all costs, and you get the peace of mind that the IRS itself calculated your taxes, and that you are unlikely to get the blame if there is an error.
Tax collection is a critical function that the government relies on, it should overwhelmingly be a government-lead process that doesn't cost people any more than what they owe in taxes. I hope all of these predatory tax filing businesses go under, because paying taxes is a civic duty that people shouldn't be reliant on private organizations to fulfill for them.