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FTC bans TurboTax from advertising ‘free’ services, calls it deceptive (edition.cnn.com)

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

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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.

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[–] demonsword@lemmy.world 29 points 9 months ago (7 children)

This is something I don't get. I live in a "third world shithole" (Brazil). Annually, we have to fill online form (that already comes pre-filled), for most people there's a minimal amount of work involved. Only very rich people need accountants and stuff. Why the USA can't (or won't) do something like that is beyond me.

[–] AA5B@lemmy.world 4 points 9 months ago* (last edited 9 months ago) (1 children)

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.

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