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Today, tax preparation remains a highly unregulated industry and around 60% of all taxpayers turn to a paid preparation service. The longevity of the VITA program is dependent on funding being approved and provided by Congress. The last official act to support the IRS initiative was made in 2017.
The Free File Alliance (FFA) was largely organized by Intuit, and guided by a former lobbyist for the company. In 2019, ProPublica reported that tax preparation agencies used the Free File Alliance to head off the potential "encroachment" by the IRS, which could offer its own tax preparation service or introduce return-free filing. In exchange ...
VITA offers free tax preparation for moderate- to low-income individuals who make $60,000 or less, disabled individuals, senior citizens, or those who have a language barrier. Last year, the AGI ...
The Tax Credit for the Elderly or Disabled allows low-income Americans ages 65 and older to claim a tax credit of $3,750 to $7,500, depending on your income, marital status and other factors.
The company began in Canada in 1997 when John Hewitt, co-founder of Jackson Hewitt, acquired a Canadian tax franchisor, U&R Tax Depot. In 1998, the company became Liberty Tax Service and opened five offices in the United States. [3] In 2012, it was named as a "Top 20 Franchise for the Buck" by Forbes, having grown to over 3,500 franchise ...
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