The IRS Is Expanding Its Alternative Tax-Filing Software

WSJ Your Money Briefing

The Wall Street Journal

News, Business News

3.8 • 1.6K Ratings

🗓️ 5 June 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

After limited eligibility in its first year, the IRS is expanding its new electronic tax-filing system . WSJ reporter Richard Rubin joins host J.R. Whalen to discuss how Direct File compares to other tax software. Sign up for the WSJ's free Markets A.M. newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:14.4	slash Wall Street.
0:17.0	Here's your money briefing for Wednesday June 5th. I'm J.R. Wayland for the Wall Street Journal.
0:26.7	Filing your taxes yourself often involves paying for software. That could change next year.
0:32.1	The IRS is planning to expand the availability of its free tax filing system.
0:37.0	So the IRS sees it as an option, as a different way of doing it
0:41.0	if you don't want to pay for advice that they'll offer this
0:44.2	for you just like they offer forms for you to fill out. This is just sort of guiding
0:48.1	you through the forms is what direct file does just like TurboTax does.
0:51.6	We'll talk to Wall Street Journal Tax
0:53.4	reporter Richard Rubin. After the break. So how do we get AI right? Well, we need the right volume of data,
1:15.0	the software to train it, and massive compute power, or...
1:19.0	Another one bites the dust.
1:21.0	Are you ready?
1:22.0	Hey, are you ready for this? Are you hanging on the
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1:29.2	AI at the scale we need, helping generate better insights.
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1:34.4	Nice teamwork guys.
1:36.7	Search HPE Green Lake. taxpayers who file the returns themselves could have a free software option next year.
	...

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