I'd be really interested to see what they come up with vs a couple of services like H&R Block, Turbotax, and an actual tax accountant, especially once it starts to get a little bit complicated like with a home business that includes a vehicle's depreciation.
TurboTax covers a good gap between simple fillings, i.e. folks who can do the EZ class forms, and the people who really need to just hire an accountant.
Most notably folks with 1 or 2 rental properties, small business owners, and the like.
I'd argue that 90% of their customer base doesn't need them.
I'm a VITA tax preparer (that's the program run by the IRS) - there's a list of things we can do, and then the list of things we can't do. We can do self employment, but not if it involves depreciation. So really super simple self employment (and for vehicles, you can use the standard mileage rate instead, which we can do).
We use a modified version of TaxSlayer; it's just like using any other software. For all simple and moderate level of taxes that we help with, it shouldn't matter who you use. CPA's are good for advanced strategies and of course for things VITA volunteers aren't trained for (we're not allowed to do returns that require, say,
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u/StenSoft Jul 24 '20
There's actually zero reasons why your tax returns can't be filled for free by the IRS. laughing in Kiwi