Attention Economy


Sunday, April 2, 2023

America's Tax-Prep Industry

Lobbyists Begin Chipping Away at Biden’s $80 Billion I.R.S. Overhaul
https://www.nytimes.com/2023/03/30/us/politics/biden-irs-overhaul-taxes.html
The fight is over a potential plan for the I.R.S. to create its own tax-filing system that would allow taxpayers to submit their returns directly to the federal government at no cost. That type of free service could diminish the need for those provided by tax preparation companies like H&R Block and TurboTax. The idea, which is still being studied, is stoking backlash from Republicans and business groups who argue that President Biden’s plans to bolster the I.R.S. will give it even more power over ordinary taxpayers.