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☆ Most Americans can file federal taxes for free — but only about 3% used this option last season
▼ + stars: | 2024-02-05 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

Established in 2002, the program, known as IRS Free File, is a public-private partnership between the agency and the Free File Alliance, a nonprofit coalition of tax software companies. Some 70% of taxpayers — roughly 100 million Americans — are eligible for Free File, according to Tim Hugo, executive director of the Free File Alliance. IRS Free File partners for 2024 season 1040NowDrake (1040.com)ezTaxReturn.comFileYourTaxes.comOn-Line TaxesTaxActTaxHawk (FreeTaxUSA)TaxSlayerIRS Free File is 'not just for simple returns'While complicated filings may need professional guidance, Free File can handle more tax situations than you may expect. Free File partners aren't required to cover all federal income tax forms and schedules. You can also file for an extension through Free File, which moves your filing deadline to Oct. 15.

Persons: there's, Tim Hugo, filers, Danny Werfel, Hugo, 1040Now Drake, There's Organizations: Alliance, IRS

☆ US lawmakers question tax prep companies on sharing of taxpayer data with Big Tech platforms
▼ + stars: | 2023-10-26 | by ( Brian Fung | ) edition.cnn.com time to read: +4 min

“Americans should be able to file their taxes without fear that their sensitive data will be shared with Big Tech companies,” said the letters, copies of which were obtained by CNN. The letters — led by Massachusetts Democratic Sen. Elizabeth Warren — focus on the use of tracking technology developed by tech platforms and embedded within the tax prep companies’ websites that quietly transferred users’ personal information to Meta and Google, allegedly without their consent. Of the five tax prep companies, Intuit was not a major focus of the initial congressional probe because it did not use tracking pixels to the same extent as the others, the investigation found. They also asked the same question of each of the four other tax prep companies, as well as requesting a commitment to abide by the FTC’s warning not to use customer data in ways consumers did not expressly approve. The lawmakers requested that the tax prep firms respond by Nov. 8.

Persons: ”, Massachusetts Democratic Sen, Elizabeth Warren —, Warren, Meta, — Sens, Ron Wyden, Richard Blumenthal, Tammy Duckworth, Vermont Independent Bernie Sanders, Sheldon Whitehouse, Katie Porter Organizations: CNN, Federal Trade Commission, Big Tech, Massachusetts Democratic, Meta, Google, FTC, Intuit, Ramsey Solutions, Oregon Democrat, Connecticut Democrat, Vermont Independent, Rhode, Rhode Island Democrat, House Democratic Locations: Oregon, Connecticut, Vermont, Rhode Island, California

☆ Tax prep companies shared private taxpayer data with Google and Meta for years, congressional probe finds
▼ + stars: | 2023-07-12 | by ( Brian Fung | ) edition.cnn.com time to read: +10 min

Some of the tax-prep companies still do not know whether the data they shared continues to be held by the tech platforms, the report said. The Warren aide told CNN it was unclear whether Meta knew it was inappropriately using taxpayer data at the time. The investigation found that all three tax-prep companies had discontinued their use of Meta’s pixel after The Markup’s report last November. “The scope of ‘taxpayer information’ is broad by design,” Rosenthal said, adding that tax-prep companies can be sued for “knowingly” or “recklessly” leaking that information. Depending on the strength of the allegations, the tax-prep companies could quickly be forced into a binding settlement, said a former FTC official who requested anonymity in order to speak more freely.

Persons: “, ”, David Vladeck, Vladeck, Democratic Sen, Elizabeth Warren, Meta, Warren, ‘, Sens, Ron Wyden, Richard Blumenthal, Tammy Duckworth, Sheldon Whitehouse, Sen, Bernie Sanders, Katie Porter, TIGTA didn’t, Block, TaxSlayer didn’t, TaxAct, TaxSlayer, TurboTax, Steven Rosenthal, ” Rosenthal Organizations: CNN, Meta, Google, Georgetown University, Federal Trade Commission, Democratic, FTC, Internal Revenue Service, Justice Department, Tax Administration, Intuit, IRS, Urban, Brookings Tax Locations: United States, Google’s

☆ Google and Meta got customer data from tax prep firms, and lawmakers want a probe
▼ + stars: | 2023-07-12 | by ( Lauren Feiner | ) www.cnbc.com time to read: +5 min

A group of lawmakers led by Massachusetts Democratic Sen. Elizabeth Warren are calling on the Biden administration to investigate how tax prep software companies may have illegally shared customer data with tech platforms Google and Meta . Some statements the tax prep companies provided to the publications at the time seemed to indicate the data sharing was done accidentally. Our system is designed to filter out potentially sensitive data it is able to detect." Among their findings released Wednesday, the lawmakers said that millions of taxpayers' information had been shared with Big Tech firms through the tax prep software and that both the tax prep companies and tech firms were "reckless" in how they handled sensitive information. Although Meta and Google both said they have filters to catch sensitive data that's inadvertently collected, they seemed to be "ineffective," the lawmakers wrote.

Persons: Sen, Elizabeth Warren, Massachusetts Democratic Sen, Biden, General Merrick Garland, Lina Khan, Daniel Werfel, J, Russell George, TaxAct, Block, Ron Wyden, Richard Blumenthal, Conn, Tammy Duckworth, Bernie Sanders, Sheldon Whitehouse, Katie Porter, Warren, Meta Organizations: Capitol, Massachusetts Democratic, Google, Federal Trade, Tax, Facebook, Meta, CNBC, Big Tech, YouTube, Apple Locations: Washington ,, Sens, D

Pros Check mark icon A check mark. Expert help is available with every filing package Check mark icon A check mark. Pay less than H&R Block and TurboTax and get a comparable experience Check mark icon A check mark. Efficient and streamlined interface Check mark icon A check mark. Ability to set up reminders to pay estimated quarterly taxes throughout the year Check mark icon A check mark.

If you only need to file a simple tax return or meet certain income requirements, you can file your taxes for free, using programs sponsored by the IRS or online tax software. Use IRS Free FileIRS Free File is a free online service for filing taxes designed by the IRS. Roughly 70% of Americans were eligible to use IRS Free File last year, but only 2% actually used it. It also won't work for you if you have business or self-employment income, income from rental property or stock sales, or unemployment income. Or, if you prefer a free tax software with no paid upgrades at all, consider Cash App Taxes (formerly known as Credit Karma Tax).

(Some partners also offer free state filing.) This is an opportunity many people overlook: About 70% of Americans qualified for IRS Free File in 2022, according to the Taxpayer Advocate,, but only 2% actually used it. Even if you meet the income requirements, Free File might not have the forms you need. If you don't meet the income requirement for Free File, you can still use the site's fillable forms. Bottom lineThere are lots of ways to file your taxes for free, whether that's with the IRS or a commercial tax software company.

Persons: TurboTax, Read, There's, isn't Organizations: CNBC Select's, Read CNBC, IRS, Social Security, Child Tax, Elderly, AARP, Department of Defense, CNBC, Facebook, Twitter Locations: Mobile, Arizona , California, Florida , Massachusetts, Nevada , New Hampshire , New York, South Dakota , Tennessee , Texas, Washington and Wyoming

I waited until April to file last year, but I'm going to be more proactive with my taxes this year. Personal Info Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Taxable income $ 0 Effective tax rate 0 % Estimated federal taxes $ 0 Federal taxes withheld $ 0How I filed my taxesThere's a lot of ways to do your taxes. TaxSlayer filed my federal and my state taxes for me, but didn't file my city taxes. Editor's Rating 4.6/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 3.7/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 4.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Learn more On Tax Slayer's website Learn more On Liberty Tax's website Learn more On H&R Block's websiteGetting my refundAfter a couple weeks, my refund came in the mail.

☆ Popular tax prep software sent financial information to Meta, report finds
▼ + stars: | 2022-11-22 | by ( Lauren Feiner | ) www.cnbc.com time to read: +2 min

Popular tax prep software including TaxAct , TaxSlayer and H&R Block sent sensitive financial information to Facebook parent company Meta through its widespread code, known as a pixel, that helps developers track user activity on their sites, an investigation by The Markup found. In a report published with The Verge on Tuesday, the outlet found the software sent information like names, email addresses, income information and refund amounts to Meta. "Advertisers should not send sensitive information about people through our Business Tools," a Meta spokesperson told CNBC in a statement. Our system is designed to filter out potentially sensitive data it is able to detect." Meta considers potentially sensitive information to include information about income, loan amounts and debt status.

If you own a small business, tax season can get hectic. To find the best online tax software for small business owners, we compared four of the leading online tax preparers — TurboTax, TaxAct, H&R Block, and TaxSlayer — on cost, user experience, and access to experts. How did we choose the best tax software for small businesses? Partnerships, multi-member LLCs, and S-Corporations must file a tax return every year to report income, deductions, profits, and losses for the business. S-Corporations will also need to report income and losses on their personal tax return.

In the years I owe, I find myself grateful for the abundance of the past year as I input each number into my tax filing software. Editor's Rating 4.6/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 3.7/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Editor's Rating 4.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Learn more On Tax Slayer's website Learn more On Liberty Tax's website Learn more On H&R Block's websiteTaxAct is an online tax prep company where you can prepare and file your tax return yourself. Simple state tax returns are free at the $99.95 price point, while more complicated state returns cost $44.95 each. Simple state tax returns are free at the $99.95 price point, while more complicated state returns cost $44.95 each. When you first initiate the tax filing process with TaxAct, you will be guided through a series of questions.

But the right online tax filing software can help you save time and money. Here are the best tax filing software programs for small business owners, so you can file your taxes before the deadline. Best tax filing software for small business ownersSubscribe to the Select Newsletter! However, you won’t incur a penalty if you don’t owe and instead have a tax refund coming. After reviewing the above features, we sorted our recommendations by best for overall tax filing, runner-up, free tax software, most affordable and best accuracy guarantee.

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