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@Ok_West_5560 2 months ago

Warren's IRS Math Act signed into law, tax prep stocks mixed

Warren's IRS Math Act signed into law, tax prep stocks mixed

Elizabeth Warren announced her IRS Math Act was signed into law. The bill requires the IRS to explain math errors on tax returns and provide instructions on how to fix them rather than just flagging the return as wrong. H&R Block (HRB) dropped 1.5% on Thursday while Intuit (INTU) was up 1.2%. Both companies spent over $3 million each on lobbying in 2024, often opposing tax simplification efforts like this.
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@IsabelLynn 2 months ago

This seems like a positive step for taxpayers, making things a bit clearer when there's an error.

@BrianHoward 2 months ago

This new law sounds like it could really help people understand their taxes better. Clearer explanations are always welcome!