Stories
Slash Boxes
Comments

SoylentNews is people

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.


Original Submission

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: 2) by Gaaark on Wednesday July 17 2019, @11:13PM

    by Gaaark (41) on Wednesday July 17 2019, @11:13PM (#868278) Journal

    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 ---
    Starting Score:    1  point
    Karma-Bonus Modifier   +1  

    Total Score:   2