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 The Mighty Buzzard on Thursday July 18 2019, @11:13AM (2 children)
This is true. Bullets aren't very expensive.
My rights don't end where your fear begins.
(Score: 1) by fustakrakich on Thursday July 18 2019, @05:01PM
Is shooting people all you can think of?
You know you guys are a bit weird, right?
La politica e i criminali sono la stessa cosa..
(Score: 2) by etherscythe on Friday July 19 2019, @01:30PM
No, but the externalities in the aftermath of their use are.
"Fake News: anything reported outside of my own personally chosen echo chamber"