it’s a HUGE step towards disassembling predatory cpas and tax software.
Its a regular sized step, as its targeted primarily at simple filers. But the cutoff is incredibly low. You can’t use it if you’ve got retirement savings through an IRA, if you’ve got deductions for college expenses, or if you’re claiming the child care deduction. I’d wager that’s at least half the people who bother to file returns.
Definitely good news for folks that H&R Block likes to fleece - anyone collecting EITC or Child Tax Credits and not much else. But hardly universal.
Some people in the USA want a solution that immediately fixes every possible problem, and don’t quite get the concept of starting small and fixing other stuff over time.
It’s the same with gun control. Some states want to tighten gun laws, and some people are like “that won’t solve all the problems! We need nationwide laws!”. Sure, but why not accept the win that more and more states are starting to do something, rather than complaining that some problems still exist?
Free if you have no other exemptions to file.
1099? Nope Depreciation? Nope Tax credits? Nope
Makes for a great headline though.
Im sure those of us that do have exemptions other than the standard will see our tax prep fees skyrocket
Some progress is better then no progress, and TurboTax et. al. losing in any way is a victory for the rest of us.
are you not capable of taking a win? it’s a HUGE step towards disassembling predatory cpas and tax software.
Its a regular sized step, as its targeted primarily at simple filers. But the cutoff is incredibly low. You can’t use it if you’ve got retirement savings through an IRA, if you’ve got deductions for college expenses, or if you’re claiming the child care deduction. I’d wager that’s at least half the people who bother to file returns.
Definitely good news for folks that H&R Block likes to fleece - anyone collecting EITC or Child Tax Credits and not much else. But hardly universal.
Why is the USA the only country to have those problems, AND complain about getting free stuff?
Some people in the USA want a solution that immediately fixes every possible problem, and don’t quite get the concept of starting small and fixing other stuff over time.
It’s the same with gun control. Some states want to tighten gun laws, and some people are like “that won’t solve all the problems! We need nationwide laws!”. Sure, but why not accept the win that more and more states are starting to do something, rather than complaining that some problems still exist?