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The Journal.

IRS Might Make Tax Season a Whole Lot Easier

The Journal.

The Wall Street Journal

Daily News, Business News, News

4.25.3K Ratings

🗓️ 18 May 2023

⏱️ 17 minutes

🧾️ Download transcript

Summary

The IRS will begin a pilot program next year to help some taxpayers fill out and file their income tax returns for free online. WSJ’s Richard Rubin on the government’s first steps towards building a competitor to TurboTax and H&R Block. Further Reading: - IRS Will Offer Free Online Tax Prep for Some Taxpayers in 2024 - TurboTax Settlement: How to Know If You Qualify for Part of the $141 Million Payout Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hey, it's Kate. We have a new reporter on our team. Jessica Mendoza. She's hosting today's episode. Here she is.

0:15.0

I'm curious who taught you how to follow your taxes?

0:18.0

Um, you know, it's, uh... I'm not sure I ever really learned... I learned mostly about taxes from writing about them.

0:28.0

Our colleague Richard Rubin covers US Tax Policy. What is your favorite tax reference in pop culture?

0:36.0

I was listening this morning to a song by the band Cake where they go like, you'll receive the federal funding you can add another wink.

0:45.0

It's like the perfect song to write about taxes to you. It's about where the money comes from and where it goes.

0:51.0

The US Tax System is something everyone loves to hate on.

0:55.0

Sarah, why did you wait until the last minute to pay your taxes?

0:58.0

Because I'm an idiot. Happy?

1:03.0

The US is weird, right? The US, unlike a lot of other countries, has a very complicated income tax system, which makes my job fun.

1:11.0

But I think it's something that people approach with a fair amount of trepidation.

1:16.0

Yes, fun for rich, less fun for the average tax paying American.

1:21.0

Yes, I think we're lucky.

1:23.0

Filing your taxes is probably never going to be fun, and it can also be expensive.

1:28.0

But that might be about to change.

1:31.0

This week, the IRS said it's planning to pilot a new tax filing system.

1:35.0

And if people like it, it could make tax season more bearable and disrupt the tax prep industry.

1:43.0

Welcome to the journal, our show about money, business, and power.

1:48.0

I'm Jessica Mendoza, it's Thursday, May 18th.

1:58.0

Coming up on the show, how the IRS wants to change the way you file your taxes.

2:13.0

Welcome aboard this Air France podcast message.

2:18.0

Air France and its crew invite you to discover its business class cabin, where you can enjoy a full flat bed.

...

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