Motley Fool Money The IRS Enters the Tax Game
Oct 18, 2023
Jason Moser, a Motley Fool analyst, dives into the IRS's Direct File pilot program, a revolutionary move that could disrupt TurboTax's dominance. He also discusses the recent scrutiny surrounding VF Corp, the parent of brands like Vans and The North Face, due to an activist investor's concern over its performance. Moreover, Moser examines Roblox's shift to a hybrid work model, signaling a significant adjustment in workplace culture as the company adapts to post-pandemic dynamics.
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IRS's Direct File Program
- The IRS plans to offer free tax filing services in a pilot program.
- This is partly due to Intuit TurboTax's deceptive advertising practices.
TurboTax Importance for Intuit
- Intuit's consumer division, primarily TurboTax, accounts for about 30% of its revenue.
- This division also generates high margins around 65%.
Activist Investor Targets VF Corp
- Activist investor Engaged Capital is targeting VF Corp due to poor performance and low margins.
- VF Corp's stock has dropped 75% over five years, and its dividend yield is concerningly high at 9.8%.