Subj : The IRS is releasing a TurboTax alternative, and you can try it n
To   : All
From : TechnologyDaily
Date : Wed Mar 13 2024 17:45:05

The IRS is releasing a TurboTax alternative, and you can try it now

Date:
Wed, 13 Mar 2024 17:30:11 +0000

Description:
Direct File is a new Pilot Program from the IRS, promising to give 18+ 
million taxpayers access to free and accessible returns.

FULL STORY
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After months of rumors and updates, the Internal Revenue Service (IRS) has 
finally released its in-house rival to TurboTax with the aim of improving 
accessibility and facilitating the tax filing process. 

With the launch of the Direct File Pilot Program, a key initiative under 
President Bidens Inflation Reduction Act, a new era of free and secure tax 
filing looks to be emerging. 

Available in both English and Spanish, the platform is set to benefit 
millions across the US, offering a hassle-free solution to taxpayers with 
straightforward tax situations, and could pose a serious threat to existing 
companies like TurboTax. US IRS launches Direct File Pilot Program 

Direct File caters to taxpayers with straightforward tax situations across 12 
US states, and an estimated 18+ million citizens are expected to benefit from 
the rollout. 

As per the IRS announcement , the tool is designed to be user-friendly and 
has no hidden fees. It's a versatile tool that can be accessed from 
smartphones, tablets, desktops, and laptops, making tax filing more 
accessible across the board. 

The IRS says early adopters of the Direct File Pilot Program have already 
reported significant savings. This tool allows taxpayers to see the 
calculations in real-time, ensuring the accuracy of their returns and 
potentially saving hundreds of dollars in professional tax preparation fees. 

The Treasury Department, in conjunction with the programs launch, released 
state-by-state eligibility estimates for the 12 states. Approximately one in 
three federal income tax returns could potentially be prepared using the new, 
free tool. 

Currently, eligible citizens in California, Arizona, Florida, Massachusetts, 
New Hampshire, Nevada, New York, South Dakota, Tennessee, Texas, Washington 
and Wyoming can use Direct File. 

Deputy Secretary of the Treasury, Wally Adeyemo, highlighted the significance 
of Direct File: Our priority in launching this new service is to save 
taxpayers time and money they can spend on themselves and their families. 

Natalie Quillian, Deputy Chief of Staff to the President, added: The launch 
of Direct File is part of [President Bidens] overall vision to improve the 
day-to-day lives of hardworking Americans and leave no one behind. More from 
TechRadar Pro The IRS is working on a TurboTax alternative to make filing 
your taxes easier Weve rounded up the best small business accounting software 
Not applicable to you? Check out the best UK tax software



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Link to news story:
https://www.techradar.com/pro/the-irs-is-releasing-a-turbotax-alternative-and-
you-can-try-it-now


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