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Motley Fool Hidden Gems Investing

The IRS Enters the Tax Game

Motley Fool Hidden Gems Investing

The Motley Fool

Business, Investing

4.33.1K Ratings

🗓️ 18 October 2023

⏱️ 27 minutes

🧾️ Download transcript

Summary

The IRS has good news for taxpayers and bad news for Intuit’s TurboTax.     (00:16) Jason Moser and Dylan Lewis discuss:   - The IRS’ Direct File pilot program coming to 13 states, and what it means for Intuit’s TurboTax. - Why activist investor Engaged Capital is interested in VF Corp – the owner of Vans, The North Face, and Supreme. - How Roblox’s return to office plans are a sign of the times for the pandemic darling.    (14:04) Ricky Mulvey caught up with Nick Sciple to check in on Next Era Energy and the rocky ride for utility stocks so far this year.   Companies discussed: INTU, VFC, RBLX, NEE, NEP, BWXT, CNQ, CEG   Host: Dylan Lewis Guests: Jason Moser, Ricky Mulvey, Nick Sciple Engineers: Tim Sparks   Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Activist investors are eyeing wardrobe staples, and the IRS might have some good news for

0:09.6

taxpayers.

0:10.6

Motleyful money starts now.

0:15.3

I'm Dylan Lewis, and I'm joined over the airwaves by Motleyful Analyst Jason Moser.

0:20.1

Jason, thanks for joining me.

0:21.5

Hey Dylan, happy to be here.

0:22.9

Thanks for having me.

0:23.9

We've got an activist investor eyeing sneakers and the maker of virtual world telling

0:27.8

employees they need to come back in person.

0:30.0

But our first story today, Jason, is focused on the tax man.

0:33.3

The IRS announced plans to launch its own free tax filing program in 13 states next

0:37.6

year, and the agency expects hundreds of thousands of taxpayers to use direct file in the pilot

0:43.1

program.

0:44.1

Jason, this ends a very long period where it seemed like the IRS was very comfortable

0:48.4

letting other companies handle tax filing, even free tax filing for taxpayers.

0:53.3

Yeah, well, understandably so.

0:55.1

I mean, building that infrastructure is obviously very complicated when you have a lot of

0:59.2

companies out there that are already done it.

1:01.8

Sometimes it's easier to to saddle up and you build partnerships as opposed to trying

1:07.3

to go it on your own.

1:08.5

This, though, seems like a response primarily, at least, to bad behavior on the part of

1:15.0

Intuit.

...

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