Διεθνή

Key Takeaways From Fed Chair Jerome Powell’s Jackson Hole Speech

AP Finance

Democrats accuse tax prep firms of undermining new IRS effort on electronic free file tax returns

Congressional Democrats are accusing big tax preparation firms including Intuit and H&R Block of undermining the federal government’s upcoming electronic free file tax return system and are demanding lobbying, hiring and revenue data to determine what’s going on. The lawmakers accuse the companies of lobbying against the new program, hiring former government workers to sway public interest against free file for all, and deliberately sabotaging a government program that had previously offered free tax prep services, according to letters obtained by The Associated Press. On Thursday, Sen. Elizabeth Warren, D-Mass., and Rep. Katie Porter, D-Calif., sent letters to the executives of Intuit, H&R Block, the American Coalition for Taxpayer Rights and the Free File Alliance, a group of tax preparation companies that provide free online services through the IRS website.