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posted by martyb on Wednesday July 17 2019, @08:55PM   Printer-friendly
from the making-money dept.

Trump’s Tax Law Threatened TurboTax’s Profits. So the Company Started Charging the Disabled, the Unemployed and Students.

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.


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  • (Score: 3, Insightful) by fustakrakich on Wednesday July 17 2019, @09:52PM (5 children)

    by fustakrakich (6150) on Wednesday July 17 2019, @09:52PM (#868229) Journal

    Yes, they should unite! to vote out the incumbents, and not reelect those who sell their souls.

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    La politica e i criminali sono la stessa cosa..
    Starting Score:    1  point
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  • (Score: 2) by The Mighty Buzzard on Wednesday July 17 2019, @10:34PM (4 children)

    by The Mighty Buzzard (18) Subscriber Badge <themightybuzzard@proton.me> on Wednesday July 17 2019, @10:34PM (#868255) Homepage Journal

    To know the value of a soul, you need to have one yourself. That is contraindicated in DC.

    --
    My rights don't end where your fear begins.
    • (Score: 2, Informative) by fustakrakich on Wednesday July 17 2019, @10:45PM (3 children)

      by fustakrakich (6150) on Wednesday July 17 2019, @10:45PM (#868263) Journal

      With the feeblest of effort the voters can change that too. It's all upon them to take the initiative.

      --
      La politica e i criminali sono la stessa cosa..