tldrdaily.news logo
Tag

Tax Software

All articles tagged with #tax software

finance1 year ago

Year-End Financial Strategies: Tax Moves and Planning Essentials

As the year-end approaches, individuals can optimize their tax strategies by using tax software to simulate various financial moves, such as harvesting tax losses, making Roth IRA conversions, and adjusting retirement contributions. These actions can have complex effects on tax liabilities due to the intricate nature of tax rules. By experimenting with different scenarios using software, taxpayers can better understand potential outcomes and make informed decisions to minimize their tax bills. It's advisable to act now, either by consulting a tax professional or using software, to take advantage of these strategies before the year ends.

via Forbes|
#finance#financial-planning#investments
business1 year ago

Intuit Stock Dips on Lower Guidance Despite Beating Q1 Targets

Intuit reported better-than-expected earnings for its fiscal first quarter, with adjusted earnings of $2.50 per share on $3.28 billion in sales, surpassing analyst expectations. However, the company's guidance for the current quarter and full fiscal year fell short of Wall Street estimates, leading to a 4% drop in its stock price in after-hours trading. Intuit is focusing on AI-driven solutions to enhance its software offerings, including TurboTax and QuickBooks. Additionally, a report about a potential government tax-filing app contributed to the stock's volatility.

via Investor's Business Daily|
#ai-technology#business#earnings
finance1 year ago

"IRS Expands Free Tax Filing Program Nationwide: What Taxpayers Need to Know"

The IRS reports a 9.7% increase in the use of its Free File guided tax software for the 2024 filing season, with 943,000 taxpayers submitting returns through the program. Refunds totaling $92.9 billion have been sent out, with an average payment of $3,213. The agency is also launching a pilot scheme called Direct File, providing a free tax payment system for eligible American workers. Additionally, the IRS is cracking down on high-earners who have failed to file tax returns, identifying 125,000 suspected cases of non-compliance among those earning over $400,000 annually.

via Newsweek|
#finance#free-file#irs
finance1 year ago

"IRS Pilots New Software for Easier, Free Tax Filing This Season"

Filing taxes is becoming more expensive due to a growing accountant shortage, with the average cost of tax preparation and accounting fees increasing by 8.3% in November 2023. However, for those with relatively simple returns, there are several free filing options to consider this season, including IRS Free File, Free File Fillable Forms, volunteer tax prep from IRS programs, IRS Direct File, and free filing options from private companies. These options cater to different income levels and offer varying levels of guidance and support, providing taxpayers with alternatives to traditional paid tax preparation services.

via CNBC|
#finance#free-file-alliance#irs-free-file
taxation1 year ago

"IRS Launches Free Tax Filing Program in 12 States: A Step-by-Step Guide"

The IRS is set to launch Direct File, a new free tax filing system, in 12 states including California in 2024, offering step-by-step guidance and real-time support. The program will initially be available to government employees in 11 states, with eligibility based on the simplicity of the federal tax return. Depending on its success, access will be extended to private sector employees. Direct File aims to simplify the tax filing process and provide an alternative to paid tax filing services, following the FTC's ruling that popular tax software company TurboTax deceived customers with its "Free Edition" product.

via KTLA Los Angeles|
#direct-file#free-filing-program#irs
finance2 years ago

"FTC Cracks Down on TurboTax's Deceptive 'Free' Tax Services"

The FTC has found that Intuit's TurboTax is not free for everyone, prompting many to seek free tax help options. The IRS Free File and Free File Fillable Forms are available for individuals with different income levels, while Miltax provides free tax software and assistance to servicemembers and veterans. Additionally, the Volunteer Income Tax Assistance program and certain tax software providers offer free services for eligible individuals.

via WTAE Pittsburgh|
#finance#intuit#irs-free-file
finance2 years ago

"FTC Cracks Down on TurboTax's Deceptive 'Free' Tax Help Claims"

The FTC has found that TurboTax's advertising of free services was deceptive, prompting many to seek free tax help options. The IRS Free File and Free Fillable Forms are available for those with different income levels, while Miltax provides free tax software and assistance to servicemembers and veterans. Additionally, the Volunteer Income Tax Assistance program and certain tax software providers offer free services for individuals meeting specific criteria.

via WYFF4 Greenville|
#finance#free-fillable-forms#irs-free-file
finance2 years ago

"Understanding TurboTax: Navigating Free Tax Help and FTC Regulations"

The FTC has issued a final order against Intuit for deceptive advertising of TurboTax as a free service, prompting individuals to seek free tax help options. IRS Free File offers guidance for those with an annual gross income of $79,000 or less, while Free File Fillable Forms are available for those making more than $79,000. Miltax provides free tax software and assistance to servicemembers and veterans, and the Volunteer Income Tax Assistance program aids individuals with disabilities or limited English proficiency. Additionally, some tax software providers offer free tiers for simpler returns.

via WCVB Boston|
#finance#intuit#irs-free-file
finance2 years ago

"FTC Cracks Down on TurboTax's Deceptive 'Free' Tax Services"

The FTC has found that TurboTax's advertising of free services was deceptive, prompting many to seek free tax help options. IRS Free File offers guidance for those with an annual gross income of $79,000 or less, while Free File Fillable Forms are available for those making more, but without assistance. Miltax provides free tax software and help to servicemembers and veterans, and the Volunteer Income Tax Assistance program aids those with lower incomes, disabilities, or language barriers. Additionally, some tax software providers offer free tiers for simpler returns, including H&R Block, TurboTax, TaxAct, and TaxSlayer.

via WLKY Louisville|
#finance#free-file-fillable-forms#irs-free-file