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Image via jorik / Shutterstock.com

For years, tax prep companies have been hiding their free software from Americans. Starting 2020, this will be illegal, as the Internal Revenue Service (IRS) has enforced regulations to ensure US taxpayers can file their taxes for free.

Updating its 18-year-old Free File agreement, the federal revenue service will now prohibit 10 companies, including TurboTax owner Intuit, from “engaging in any practice” that would withhold their free software from appearing in search engines like Google.

The Free File agreement allows taxpayers with annual earnings of under US$69,000 to file their taxes for free with commercial programs.



The 10 companies must also adhere to a uniformed naming scheme, “IRS Free File program delivered by [company name],” to make it easier for Americans to access the free tools.

While the new regulations prevent tax prep firms like TurboTax from profiting from low- and middle-income locals, the update also declares that the IRS is now free to create a competitor to the companies.





[via Engadget, cover image via jorik / Shutterstock.com]

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