The 2017 tax overhaul vastly expanded the number of people who could file simplified tax returns, a boon to millions of Americans.
But the new law directly threatened the lucrative business of Intuit, the maker of TurboTax.
Although the company draws in customers with the promise of a "free" product, its fortunes depend on getting as many customers as possible to pay. It had been regularly charging $100 or more for returns that included itemized deductions for mortgage interest and charitable donations. Under the new law, many wealthier taxpayers would no longer be filing that form, qualifying them to use the company's free software.
Intuit executives came up with a way to preserve the company's hefty profit margins: It began charging more low-income people. Which ones? Individuals with disabilities, the unemployed and people who owe money on student loans, all of whom use tax forms that TurboTax previously included for free.
(Score: 2) by Snow on Wednesday July 17 2019, @09:21PM (6 children)
You'd think that with an annual Revenue of over $5 Billion, they could make a piece of software that wasn't so fucking painful to use.
One of the biggest rackets going.
(Score: 1, Flamebait) by Anonymous Coward on Wednesday July 17 2019, @09:59PM (1 child)
I don't know but I've been told, Eskimo pussy is mighty cold!
(Score: 2) by Gaaark on Wednesday July 17 2019, @11:13PM
The Northern girls with the way they kiss
They keep their boyfriends warm at night
--- Please remind me if I haven't been civil to you: I'm channeling MDC. ---Gaaark 2.0 ---
(Score: 0) by Anonymous Coward on Wednesday July 17 2019, @10:31PM
It's *my* ass.
*They* are Intuit.
(Score: 0) by Anonymous Coward on Wednesday July 17 2019, @10:31PM
Tell that to my face in my igloo, tough guy.
(Score: 0) by Anonymous Coward on Thursday July 18 2019, @08:34AM
Copy the Australian one?
(Score: 2) by ilsa on Thursday July 18 2019, @04:47PM
You have to understand that no amount of money will ever be enough. They will do everything to continue maximizing their profit, because both the law, and Wall St, demand that they do, and they will be castigated if they don't.
The very laws of society not only encourage, but demand, sociopathic behaviour from corporations. And then we're surprised when sociopathic assholes rise up the ranks and run these companies.