IRS set to look into free electronic option to file tax returns
It’s that time of year when taxpayers are rushing to file their income tax returns before the deadline.
There could be a new, free option to prepare taxes in the future. The IRS has been tasked with looking into how to create a government-operated electronic free-file tax return system for all. But this doesn’t sit well with the big tax-prep companies, according to ABC News.
Congress has directed the IRS to report in on how such a system might work.
The order came as part of the $80 billion infusion of money for the tax agency over the next 10 years under the Democrats’ flagship climate and health care measure, known as the Inflation Reduction Act, that President Joe Biden signed last summer. It gave the IRS nine months and $15 million to report in on how it might implement such a program and how much it would cost.
Next month, the IRS will release the first in a series of reports looking into how it might be done.