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


//business-finance.news-articles.net/content/202 .. n-to-include-residents-making-up-to-200-000.html
Published in Business and Finance on Friday, January 10th 2025 at 5:20 GMT by Newsday   Print publication without navigation

  • 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 ]

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