Ntuit shares fall after report that gov't efficiency team is considering tax app | Hacker News Reader

Ntuit shares fall after report that gov't efficiency team is considering tax app

cnbc.com

12 pointselsewhen8 comments

Sounds suspiciously like they want to take credit for IRS Free File, which Republicans often opposed.

Ridiculous partisan allegation.

You do know that they want to drastically simplify the tax code, correct? From @DOGE itself:

  In 1955, there were less than 1.5 million words in the U.S. Tax Code. 
  Today, there are more than 16 million words.
  Because of this complexity, Americans collectively spend 6.5 billion hours preparing and filing their taxes each year.
  This must be simplified.

https://x.com/DOGE/status/1857993918526480545

What do you think they're proposing instead, specifically? Creating a duplicate tax app? That hardly sounds like a department of government efficiency proposal.

Just about every politician (and they are politicians now) says they want a simpler tax code. Those statements do not appear to correlate with results.

Have never seen Intuit referred to as Ntuit.

The original headline:

Intuit, H&R Block shares fall after report that Trump government efficiency team is considering tax-filing app

That probably had to be trimmed to fit HN's requirements, but removing that initial I is a step too far.

Great, I wished they'd just auto file like a sane country and only need to to anything if you want to send in an adjustment.

American taxes are probably too complicated to do that in general. It might serve for about 50-60% of filers, but that's a lot of people who would have to adjust it.

It might well be worth redesigning the tax code in order to make that simpler. That would be a lot of work, because we've spent a long time tuning the tax code to encourage and discourage various behaviors. Cutting those off cold turkey would really leave some people in the lurch. But in the long run it could be a significant improvement.

"Ntuit"?

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