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The podcast discusses the IRS's plan to introduce its own free tax filing program in response to issues with TurboTax. They also cover an activist investor investigating VF Corp, Roblox's return to in-office collaboration, and the recent performance of utility stocks like NextEra Energy.
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- The IRS plans to launch its own free tax filing program in response to deceptive advertising practices by Intuit's TurboTax, potentially providing a valuable alternative for taxpayers.
- Engaged Capital's investment in VF Corp highlights concerns over the company's strategic guidance and lower margins compared to peers, resulting in a significant increase in VF Corp's stock.
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IRS Launching Free Tax Filing Program
The IRS plans to launch its own free tax filing program in 13 states next year. This move comes as a response to deceptive advertising practices by Intuit, the owner of TurboTax, who offered free tax services but then upsold customers on unnecessary products. Surveys indicate that 72% of taxpayers would be interested in using a free electronic tax filing service offered by the IRS.
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