Back This Medical AI Tech

You don't often find healthcare tech company valued at $4M. HeartSciences is an exception. With $75M invested, including R&D, clinical trials, and product development, their patented AI software is approaching FDA submission, a potential major inflection point.

Taxpayers in 24 states will be able to file their returns directly with the IRS in 2025

FATIMA HUSSEIN
October 03, 2024

WASHINGTON (AP) -- The IRS is expanding its program that allows people to file their taxes directly with the agency for free.

The federal tax collector's Direct File program, which allows taxpayers to calculate and submit their returns to the government directly without using commercial tax preparation software, will be open to more than 30 million people in 24 states in the 2025 filing season.

The program was rolled out as a pilot during the 2024 tax season in 12 states.

Now IRS Commissioner Daniel Werfel says the program will be permanent and the IRS will expand eligibility opportunities for taxpayers.

"We're announcing significant expansions of Direct File that will make the service available to millions more taxpayers in 2025," Werfel said on a call Thursday with reporters. He said it is possible that additional states could still choose to join the program in 2025.

The pilot program in 2024 allowed people in certain states with very simple W-2s to calculate and submit their returns directly to the IRS. Those using the program claimed more than $90 million in refunds, the IRS said.

It was originally available to certain taxpayers in California, New York, Arizona, Florida, New Hampshire, Nevada, South Dakota, Tennessee, Texas, Washington, Wyoming and Massachusetts.

States to be added in 2025 include: Alaska, Connecticut, Idaho, Kansas, Maine, Maryland, New Jersey, New Mexico, North Carolina, Oregon, Pennsylvania and Wisconsin.

In addition, new eligibility standards will allow participation by taxpayers with 1099 income and credits including the Child and Dependent Care Credit, Retirement Savings Contributions Credit, and the deduction for Health Savings Accounts, among others.

"Other countries have been providing their citizens with the ability to do this type of thing for years," Treasury Deputy Secretary Wally Adeyemo said on the call with reporters. Several nations in the Organization for Economic Cooperation and Development, including Germany and Japan, have similar systems with prepopulated tax forms.

The direct file idea is not viewed favorably by the commercial tax prep software firms that have made billions of dollars from charging people to use their software.

Additionally, an IRS inspector general report released this week notes that the IRS has not maintained sufficient safeguards over data protection related to the IRS Free File Alliance. The alliance is a longstanding agreement between the IRS and some commercial tax preparation companies to provide free tax prep services to low and middle-income taxpayers.

The Free File Alliance is separate from the Direct File program.

The IRS was tasked with looking into how to create a "direct file" system as part of the money it received from the Inflation Reduction Act signed into law by President Joe Biden in 2022. It gave the IRS nine months and $15 million to report on how such a program would work.

Continue Reading...

Popular

Trump keeps saying the GOP mega bill will eliminate taxes on Social Security. It does not

WASHINGTON (AP) — President keeps saying that Republicans' mega legislation will eliminate taxes on federal benefits.

Warren Buffett Skips Big Banks Like JPMorgan and Wells Fargo, Bets $459 Million On This One Asset

Warren Buffett has shifted his investment strategy, investing $459 million in Sirius XM after selling his stakes in Bank of America, JPMorgan Chase, and Wells Fargo.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as July 23rd.

Shaquille O'Neal Wants $50 Million From Lakers Following $10 Billion Sale

Citing his past contributions to the Laker's success, Shaquille O'Neal jokingly requested a $50 million payout after a $10 billion sale.

North Koreans swim and play at a beach resort touted as a boost for tourism

SEOUL, South Korea (AP) — North Koreans swam, rode water park slides and enjoyed other water activities at a newly opened state media reported Wednesday, as the country largely maintains a ban on the entry of foreign tourists.

FDA Submission Expected This Summer - Invest Before It Happens - Ad

This company is making heart disease easier to detect with AI. Their tech has officially been designated a "Breakthrough" by the FDA. You now have an opportunity to get in at a potential inflection point.

US brings charges in North Korean remote worker scheme that officials say funds weapons program

WASHINGTON (AP) — The Justice Department announced criminal charges Monday in connection with a scheme by North Korea to fund its weapons program through the salaries of remote information technology workers employed unwittingly by U.S. companies.

Vistra's Rally Explained: Where Is The Stock Headed Next

Vistra stock's bullish structure remains intact. Here's a breakdown of what triggered the move and where VST is likely headed next.

Copper's Rally Is Back. This $31M Junior Is Sitting on a Potential Fortune - Ad

A high-grade copper-gold discovery in Quebec just delivered extremely high grade intercepts. Valuation? Just $31M. With copper breaking out, the timing here could be perfect. Get the symbol here.

Ex-Trump Family Attorney Raises Alarms Over Trump's Actions as President: 'I Have Never Been As Concerned'

Abbe Lowell expressed serious concerns about the potential harm that the current administration could cause to the country's institutions.

In a blow to Milei, a US judge orders Argentina to turn over its majority stake in state oil company

BUENOS AIRES, Argentina (AP) — The fate of Argentina’s state-run oil company was thrown into doubt Monday as a U.S. judge ordered the cash-strapped country to give up its 51% controlling stake in YPF in partial compensation for seizing the shares of former investors during its 2012 nationalization of the energy group.

Elon's Greatest Invention... Hidden in South Memphis? - Ad

In South Memphis, I uncovered what could be Elon Musk's biggest invention yet. It's so secretive, rivals are flying drones to spy on it. If you're serious about investing in AI, now's the time to see what's really going on inside those walls.

Bernie Sanders Warns Of 'Concentration of Ownership' In US Companies: 'That's Power'

Bernie Sanders claims Wall Street giants hold majority of US corporations, giving them power to steer economy & politics. Wants reform & better wages

Supreme Court OKs fee that subsidizes phone, internet services in schools, libraries and rural areas

WASHINGTON (AP) — on Friday upheld the fee that is added to phone bills to provide billions of dollars a year in in schools, libraries and rural areas.

From Ferrari to Bombardier - This Tiny Company Is Everywhere - Ad

A $150M disruptor is transforming glass into real-time displays and vision systems. Already embedded in global OEMs and Tier 1s, it's scaling fast - yet still under Wall Street's radar.

Trump Brokers Peace Deal Between DR Congo And Rwanda — Now Eyes Billions In US Investment

Trump brokers a peace deal between DR Congo and Rwanda, aiming to end conflict and unlock U.S. investment in critical African minerals.

Gold Just Hit Another Record. This Junior Could Be Next. - Ad

This copper junior was the smallest company invited to a top global mining conference. With nearly 1B pounds CuEq and 50,000m of funded drilling, this story won't stay quiet for long.

Copper's Spiking - And This Junior Has the Grades to Match - Ad

Copper is climbing again - and this time, it looks tariff-proof. A $31M junior just posted nearly 1B lbs of copper equivalent. With insiders and institutions piling in, this could be the next breakout.

Trump Says Jerome Powell Should 'Resign Immediately' After FHFA Director Alleges Fed Chair Lied About $2.5 Billion Renovation Plan

In Big Tech Just Before Congressional Hearing: ReportTrump wants Powell gone over testimony liesTrump demands Powell's resignation after accusations of misleading testimony from Federal Housing Finance Agency Director. Trump has been critical of Powell in the past.

Ex-Obama Treasury Secretary Jack Lew Sounds Alarm On NYC Under Zohran Mamdani: 'I Worry Deeply'

With Zohran Mamdani officially securing the Democratic nomination in the New York City mayoral race, centrist figures within the Democratic party, such as former Treasury Secretary Jack Lew, are raising questions on the city's future under a self-described Democratic Socialist.

This Tiny Tech Stock Could Be the Next Big Platform Play - Ad

One under-the-radar company is embedding intelligence into everyday glass-already powering Ferraris, aircraft, and city buses with adaptive surfaces and vision systems. It's not just a product. It's a platform.

Lisa Murkowski Defends Alaska Carveouts As Elizabeth Warren, Bernie Sanders And Rand Paul Condemn Trump's 'Big Beautiful' Bill: 'Not Good Enough For The Rest Of Our Nation'

Senators across party lines are fiercely divided over Donald Trump's $3.3 trillion "Big Beautiful Bill," which narrowly passed the Senate and now heads to the House amid concerns over debt, tax cuts, and social program rollbacks.

The Next Big Breakout Isn't a Chip. It's Glass. - Ad

Smartphones disrupted phones. EVs disrupted autos. Now smart surfaces are disrupting everything - and one overlooked company is at the center of it.

U.S. employers likely added 115,000 jobs last month as labor market continues to cool

The steady slowdown in U.S. hiring likely continued in June as President Donald Trump’s trade wars, federal hiring freeze and immigration crackdown weighed on the American job market.

Diddy Jury Deadlocked On Racketeering Conspiracy Charge As Verdicts Reached On Sex Trafficking Counts — Jurors To Return Wednesday

Jurors in Sean "Diddy" Combs' trial reached verdicts on four charges related to sex trafficking but remain deadlocked on the racketeering conspiracy charge, with deliberations set to continue.

Back This Medical AI Tech - Ad

You don't often find healthcare tech company valued at $4M. HeartSciences is an exception. With $75M invested, including R&D, clinical trials, and product development, their patented AI software is approaching FDA submission, a potential major inflection point.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as July 23rd.

Samsung unveils its new line of foldable devices at Unpacked

NEW YORK (AP) — Samsung introduced several updates to its foldable devices lineup on Wednesday, with the new Galaxy Z Fold 7, Z Flip 7, and the new Z Flip 7 FE taking stage at the latest Unpacked event.

FDA Submission Expected This Summer - Invest Before It Happens - Ad

This company is making heart disease easier to detect with AI. Their tech has officially been designated a "Breakthrough" by the FDA. You now have an opportunity to get in at a potential inflection point.

Scott Bessent On Replacing Powell As Fed Chair: 'I Will Do What The President Wants' — Plays Down Shadow Chair Speculations

U.S. Treasury Secretary Scott Bessent declined to rule out the possibility of replacing Jerome Powell as Federal Reserve Chair and has instead deferred to President Donald Trump's decision on the matter.

Dubai’s booming restaurant scene is feeling the heat of high costs and high failure rates

DUBAI, United Arab Emirates (AP) — From suspended tables to underwater lounges, some 13,000 food and drink establishments in Dubai pull out all the stops to attract customers in one of the world’s most saturated dining markets.

Copper's Rally Is Back. This $31M Junior Is Sitting on a Potential Fortune - Ad

A high-grade copper-gold discovery in Quebec just delivered extremely high grade intercepts. Valuation? Just $31M. With copper breaking out, the timing here could be perfect. Get the symbol here.

Asian shares are mixed after US stocks hit an all-time high

BANGKOK (AP) — Asian shares started the week with gains after U.S. stocks closed at an all-time high following their recovery from the shocks of the Trump administration’s

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright markethundred.com
Privacy Policy | Terms of Service