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Market
Impact on tax software market by 2025 due to IRS Direct File
5
Resolution / Starting Odds
Significant decrease in market share • 33%
Moderate decrease in market share • 33%
No significant change in market share • 33%
Market research reports or financial analysis
Story
IRS Announces Permanent Free Direct File Tax Filing Program Nationwide Starting 2025
May 30, 2024, 05:06 PM
The IRS and the U.S. Department of the Treasury have announced that the Direct File pilot program will become a permanent, free option for taxpayers nationwide starting in 2025. This initiative, which aims to save taxpayers time and money, invites all 50 states and Washington, D.C. to participate. The program's expansion is attributed to the Inflation Reduction Act, championed by President Biden. Lawmakers, such as Rep. Ruben Gallego and Rep. Don Beyer, have expressed support for the program, highlighting its benefits for residents in states like Arizona and Virginia. The program has already saved Arizonans thousands this tax season.
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Less than 70% • 33%
70% to 85% • 33%
More than 85% • 33%
Increase • 25%
Decrease • 25%
No change • 25%
Too early to determine • 25%
Less than $100 million • 33%
$100 million to $500 million • 33%
More than $500 million • 33%
California • 25%
Texas • 25%
New York • 25%
Florida • 25%
Under $100 million • 25%
$100 million - $200 million • 25%
$200 million - $300 million • 25%
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25 to 40 • 33%
More than 40 • 33%