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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: 3, Insightful) by Anonymous Coward on Wednesday July 17 2019, @10:26PM (1 child)
I do. Because I want to do my taxes on my own computer instead of 'someone else's computer' e.g. the cloud. I also like to save various alternative 'what if' scenarios to help plan for next year. I save the files on an encrypted thumb drive that then lives in the fireproof safe next to the printed paper copies of the tax forms. Way better than sitting on 'the cloud' just waiting for TurboTax to have some major breach.
(Score: 0) by Anonymous Coward on Thursday July 18 2019, @08:29PM
so you use closed source shit from some whore ass company in bed with the government?