538
submitted 9 months ago by L4s@lemmy.world to c/technology@lemmy.world

FTC bans TurboTax from advertising ‘free’ services, calls it deceptive::The Federal Trade Commission ruled in a final order and opinion Monday that TurboTax, the popular tax filing software, engaged in deceptive advertising and banned the company from advertising its services for free unless it is free for all customers.

you are viewing a single comment's thread
view the rest of the comments
[-] AA5B@lemmy.world 4 points 9 months ago* (last edited 9 months ago)

US Taxes can be very complex and the gov’t does not know ahead of time all the details.

However:

  • salary and interest income are reported by employers
  • EZ form contains info the gov’t already knows
  • Newly increased standard deduction means that most people no longer can itemize (e

I’m not sure what’s missing to keep these from being simple and automatic for the majority: tipping income? State and local taxes? All the little nooks and crannies that make taxes complex are really not likely for most people.

I don’t know the limits are for TurboTax free filing but I’d expect most people to be able to now.

[-] 4onen@lemmy.world 2 points 9 months ago

Actually, the standard deduction doesn't mean people can't itemize, it means it doesn't make financial sense to itemize. Itemizing is worse for them. If they want to itemize, they're still allowed to.

... At least that's what TurboTax and the other FreeFile program I used claimed.

this post was submitted on 23 Jan 2024
538 points (99.8% liked)

Technology

59340 readers
2302 users here now

This is a most excellent place for technology news and articles.


Our Rules


  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots


founded 1 year ago
MODERATORS