Rich Rubin
speaker
137 appearances
2 recordings
1 series
first heard Jun 2024
last heard Sep 2024
Rich Rubin’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · The IRS Is Expanding Its Alternative Tax-Filing Software · 5 Jun 2024
podcast
This is just sort of guiding you through the forms is what direct file does, just like TurboTax does.
The companies see direct file really as a solution in search of a problem is their line, that they think that the existing universe is perfectly fine, that there's paid products, that there are some free options out there already.
And so there isn't really a need for this additional thing created by the government.
Yeah, it already asks all those questions.
It's designed in a question and answer format, just like the private programs are.
For its first year, which was this filing season in 24, it was limited to 12 states and limited to certain types of taxpayers.
So whereas the existing programs, TurboTax will let you file and let you use it if you have itemized deductions or business income deductions.
Direct file in its first iteration was very narrow.
And so if you had some of those things, it would just say you're not eligible.
Here are some other options.
What's going to happen now is the IRS is going to start expanding direct file to cover more types of situations for taxpayers and open it up to all states if they want to pair up with the IRS so that state income tax systems can be linked into direct file.
DirectFile is designed to be free, exactly.
DirectFile was free for taxpayers this year.
It obviously cost the government money to develop and run it, and that's paid for by all of us.
But it was free for taxpayers, and the state ones were free.
It's not known.
That's one of the big open questions in two dimensions.
One is how many other states are going to be interested in this?
This has very much become a partisan issue.
You may see a lot of Republican states not sign on to join the IRS on this.
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