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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, Interesting) by SomeGuy on Wednesday July 17 2019, @11:27PM
What Intuit should do is partner with smart phone manufacturers, and then get all other forms of tax submission made illegal because it is good for the planet and high-tech and trendy and stuff. Oh, and since it changes every year, you have always have to buy the absolute latest cell phone first.
They would if they could.
Fuck them.