TurboTax owner Intuit ramps up lobbying as debate over government-run free tax filing heats up
By Anna Massoglia
May 5, 2023
Commercial tax preparation companies like H&R Block and Intuit, the company that owns TurboTax, have poured tens of millions of dollars into lobbying as part of a multiyear push against a government-run filing service that would enable taxpayers to submit tax returns directly to the IRS at no cost.
A free tax filing service could diminish the need for services provided by commercial tax prep companies, which profit from complicated tax filing processes that require many Americans to pay for help.
TurboTax owner Intuit spent more on federal lobbying in the first three months of 2023 than any prior first quarter . The surge in spending comes on the heels of heated debate over whether the government should provide its own free tax filing service that was reignited by an $80 billion funding increase to overhaul the IRS as part of the Inflation Reduction Act passed in 2022.
The tax prep company which also owns QuickBooks, Mint, Credit Karma and Mailchimp spent a record sum of $980,000 on lobbying during the first quarter of 2023, more than any prior first quarter.
https://www.opensecrets.org/news/2023/05/turbotax-owner-intuit-ramps-up-lobbying-as-debate-over-government-run-free-tax-filing-heats-up/
David__77
(23,636 posts)Making that would be worthwhile.
BeckyDem
(8,361 posts)Grins
(7,263 posts)My taxes are fairly simple so it may not be right if a filing is far more complicated.
catbyte
(34,546 posts)My taxes are pretty simple, so when I saw how much it was costing me, I started using another online service. It saved me a ton of money. TurboTax fees started out at $129 just for federal, and then they charge another whole fee for state and local. I ended up spending about $21 that included an extra audit defense fee, so TurboTax can stuff it. I filed my taxes electronically on April 17 and got my refund back on April 26. (I filed late because I usually get next to nothing back, but this year I got around $3,000 back. I'm still trying to figure out how that happened, lol.)
BeckyDem
(8,361 posts)That is a great example to share with others too, Americans do not need Turbo Tax.
erronis
(15,470 posts)By Glenn Reeves
Free and totally open (no hidden tricks or otherwise.) He keeps it up-to-date as the tax laws change. Lots of schedules.
I've been using for the last 10+ years.
BeckyDem
(8,361 posts)twodogsbarking
(9,954 posts)BeckyDem
(8,361 posts)lol +1