Sat, January 11, 2025
[ Sat, Jan 11th 2025 ]: Indiatimes
Microsoft, Amazon, The Washington Post, and other US companies laying off in 2025
[ Sat, Jan 11th 2025 ]: businessday
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[ Sat, Jan 11th 2025 ]: ABC
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[ Fri, Jan 10th 2025 ]: Newsday
NYS expands free tax filing option to include residents making up to $200,000
[ Fri, Jan 10th 2025 ]: MSN
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[ Fri, Jan 10th 2025 ]: Reuters
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Thu, January 9, 2025
[ Thu, Jan 09th 2025 ]: cnbctv18
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[ Thu, Jan 09th 2025 ]: ABC
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[ Thu, Jan 09th 2025 ]: Reuters
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[ Thu, Jan 09th 2025 ]: Reuters
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Budget 2025 income tax: Hike basic exemption limit to Rs 5 lakh and reduce tax rates, says EY

NYS expands free tax filing option to include residents making up to $200,000

Under the expansion, individuals who make up to $200,000, or joint filers who make up to $250,000, may be eligible to use the IRS' Direct File program.
The article from Newsday discusses the ongoing debate over the Internal Revenue Service's (IRS) potential development of a free, government-run tax filing software. Currently, the IRS allows taxpayers to file their taxes for free through partnerships with private tax preparation companies, but there's a push for a direct, government-provided option. This initiative, supported by some lawmakers and consumer advocacy groups, aims to simplify tax filing, reduce costs for taxpayers, and potentially increase compliance by making the process more straightforward. Critics, however, including tax preparation firms like Intuit and H&R Block, argue that such a system could lead to privacy concerns, might not be as user-friendly, and could face significant implementation challenges. The debate includes discussions on funding, the complexity of tax laws, and whether the IRS should both help prepare taxes and audit returns. The article highlights the tension between simplifying tax filing for the public and the interests of private companies that benefit from the current system.

Read the Full Newsday Article at:
[ https://www.newsday.com/business/taxes-irs-filing-software-yxuxszpy ]