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Under the TCJA, key changes were made to individual tax laws, including the near-doubling of the standard deduction and increasing the child tax credit to $2,000, from $1,000.
We rate the best tax software solutions — from budget-friendly options for straightforward returns to feature-rich platforms for more complex situations — to help simplify the 2025 tax season.
With the new year just around the corner, now might be the time to prepare for tax season. While this process can be cumbersome and lengthy, knowing how much you can or should do to prepare for the...
In 2008, Intuit raised the price of TurboTax for desktop customers by $15 and included a free e-filing for the first return prepared. [19] The company's new "Pay Per Return" policy was criticized for adding a $9.95 fee to print or e-file each additional return after the first, including returns prepared for members of the same household.
Today, tax preparation remains a highly unregulated industry and around 60% of all taxpayers turn to a paid preparation service. The longevity of the VITA program is dependent on funding being approved and provided by Congress. The last official act to support the IRS initiative was made in 2017.
The company stated that it had "insufficient resources" to identify and report complex transactions in its corporate tax accounting. On February 23, 2006, the company said in its quarterly results that it had miscalculated its own state income taxes for 2005 and 2004, and that it owed an additional $32 million in back taxes. [29] [30]