Elon's New Device Could Launch Biggest IPO of the Decade

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

Trump administration plans to end the IRS Direct File program for free tax filing, AP sources say

FATIMA HUSSEIN
April 16, 2025

WASHINGTON (AP) -- The Trump administration plans to eliminate the IRS' Direct File program, an electronic system for filing tax returns directly to the agency for free, according to two people familiar with the decision.

The program developed during Joe Biden's presidency was credited by users with making tax filing easy, fast and economical. But Republican lawmakers and commercial tax preparation companies complained it was a waste of taxpayer money because free filing programs already exist, although they are hard to use.

The program had been in limbo since the start of the Trump administration as Elon Musk and the Department of Government Efficiency have slashed their way through the federal government. Musk posted in February on his social media site, X, that he had "deleted" 18F, a government agency that worked on technology projects such as Direct File.

There was some hope that Musk, with his DOGE team of savvy computer programmers, could take over Direct File and improve it. But the two people familiar with the decision to end Direct File said its future became clear when the IRS staff assigned to the program were told in mid-March to stop working on its development for the 2026 tax filing season.

The two people were not authorized to publicly discuss the plans and spoke to The Associated Press on condition of anonymity.

Adam Ruben, a vice president at the liberal-leaning Economic Security Project, said "the fix was in from the beginning."

"It is an outrage to see everyday taxpayers play no role in this decision," he said. "Cutting costs and saving money for families were just empty campaign promises."

Direct File was rolled out as a pilot program in 2024 after 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 Biden in 2022. The Democratic administration tens of millions of dollars developing the program.

Last May, the agency announced that the program would be made permanent.

But the IRS has faced intense blowback to Direct File from private tax preparation companies that have made billions from charging people to use their software and have spent millions lobbying Congress. The average American typically spends about $140 preparing returns each year.

The IRS accepted 140,803 returns filed by taxpayers using Direct File in the 12 states where it was available last tax season. It was expanded to include half the country this year. It is unclear how many taxpayers have used Direct File this year.

Sen. Elizabeth Warren, D-Mass., a proponent for building out Direct File, said in an emailed statement Wednesday that Trump and Musk "are going after Direct File because it stops giant tax prep companies from ripping taxpayers off for services that should be free. Americans want a free and easy way to file their taxes -- Trump and Musk want to take that away."

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.

A judge resisted Trump’s order on gender identity. The EEOC just fired her

The federal agency charged with protecting workers’ civil rights has terminated a New York administrative judge who , including President Donald Trump’s executive order decreeing male and female as .

Buffett's Favorite Chart Just Hit 209% - Here's What That Means For Gold - Ad

Buffett's favorite market signal just hit its highest level in history-stocks are more overvalued than 1929. He's sitting on $325B in cash... and may be about to buy one overlooked gold miner. I've identified it-plus 4 others with up to 100X potential.

Cathie Wood's Alpha Surge: $250 Million Circle Windfall, Big AMD Buys

Cathie Wood, founder and CEO of ARK Invest, has recently been on a hot streak of successful and high-profile trades through her flagship ARK ETFs. 

After Diddy's conviction, here's where his business ventures stand

LOS ANGELES (AP) — Sean “Diddy” Combs has been in his federal sex trafficking trial, but that doesn't mean the once-celebrated music mogul will see his business empire restored.

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.

FDA requires updated warning about rare heart risk with COVID shots

WASHINGTON (AP) — said Wednesday it has expanded existing warnings on the two leading COVID-19 vaccines about a rare heart side effect mainly seen in young men.

Iran’s president orders country to suspend cooperation with UN nuclear watchdog IAEA

DUBAI, United Arab Emirates (AP) — Iran’s president on Wednesday ordered the country to suspend its cooperation with after American and Israeli airstrikes hit its most-important nuclear facilities, likely further limiting inspectors' ability to track Tehran's program that had been enriching uranium to near weapons-grade levels.

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.

Goldman Just Launched Two New Bond ETFs; Here's Why Investors Should Pay Attention

Goldman Sachs Asset Management debuts two new actively managed fixed income ETFs in response to rising demand for active strategies in a volatile rate landscape.

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.

Musk Third-Party Odds Hit 47% — Can The Tesla Chief Do What No One Has Since 1853?

A promise to create a third party from billionaire Elon Musk comes with historical difficulties of challenging the current two-party system.

Mark Cuban Raises Employee Wages After Learning Of Government Aid Dependence

Mark Cuban, owner of the NBA's Dallas Mavericks, expressed his dismay upon learning that some of his employees were reliant on government aid programs.

Is Elon's Empire Crumbling? - Ad

Jeff Brown - the legend who called Tesla and Nvidia early - says Elon is about to launch a $25T AI revolution. This isn't another chatbot. It's real-world AI that could 14X the impact of ChatGPT. But after July 23rd, it may be too late.

Trump's Approval Ratings, Tariff Deadlines, Schumer's Criticism, And Defense Budget Shifts: This Week In Politics

Trump's approval ratings drop after Iran attack, hints at tariff deadline flexibility. SC limits judges' power, Schumer criticizes GOP budget, defense budget shifts to missiles and drones.

Occidental Petroleum, Exxon Mobil, Chevron Surge In Monday Pre-Market: What's Going On?

Occidental Petroleum Corp (NYSE: OXY), Exxon Mobil Corp (NYSE: XOM) and Chevron Corp (NYSE: CVX) climbed 1.95%, 1.53% and 1.31% during Monday pre-market trading session after oil prices have skyrocketed to their highest point since January, sparking concerns about potential supply disruptions.

Trump Could Revolutionize Money Starting July 25th - Ad

Jeff Brown uncovered "Project MAFA"-Trump's bold plan to return to sound money, erase U.S. debt, and trigger a wave of wealth. It could become law by July 25. Join Jeff's urgent briefing on July 16 at 8 p.m. ET to see how you could profit. If you want to get in front of it, you'll need to act quickly.

Donald Trump's Approval Rating Jumps Among Baby Boomers — Here's What's Driving It

President Trump's approval rating among Baby Boomers has seen a significant surge, potentially solidifying his political base as we approach the 2026 midterm elections.

House Republicans race toward a final vote on Trump's tax bill, daring critics to oppose

WASHINGTON (AP) — Republican leaders in the House are sprinting toward a Wednesday vote on President Donald Trump's , determined to seize momentum from a in the Senate while essentially daring members to defy their party's leader and vote against it.

How to Hack a $1.3T Market - Ad

Forget concrete. The new foundation for real estate success is digital, and Pacaso leads the way. Their tech unlocks a $1.3T real estate market. They've already earned $110M+ in gross profits in their operating history and reserved the Nasdaq ticker PCSO.

Kevin O'Leary Says 'You'll Never Be Free' If You Remain An Employee, But There's Actually Nothing Wrong With It: Here's Why

Shark Tank investor Kevin O'Leary says only 1 in 3 people have the determination to succeed as an entrepreneur and taste true freedom. He also praises Steve Jobs and Elon Musk for their high signal-to-noise ratio and work ethic.

A Historic Gold Announcement Is About to Rock Wall Street - Ad

The greatest investor of all time is about to validate what Garrett Goggin has been saying for months: Gold is entering a once-in-a-generation mania. Front-running Buffett has never been more urgent - and four tiny miners could be your ticket to 100X gains.

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.

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.

FIFA Opens Office In Trump Tower, Boosting Ties With President Ahead Of 2026 World Cup

The world football governing body FIFA has established an office in the Trump Tower in New York, further strengthening its ties with U.S. President Donald Trump. This development comes just a year before the men's World Cup, which is set to be hosted across North America.

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

Australian airline Qantas says customer data stolen by cybercriminal

Australian airline Qantas said Wednesday that a hacker made off with a trove of customers' personal data including passenger names, emails, phone numbers, birth dates and frequent flyer numbers.

Trump accuses Brazilian authorities of 'witch hunt' against ex-President Jair Bolsonaro

SAO PAULO (AP) — U.S. President Donald Trump on Monday criticized Brazilian authorities over what he called “a witch hunt” against former President and said he will be “closely monitoring” .

Buffett's Favorite Chart Just Hit 209% - Here's What That Means For Gold - Ad

Buffett's favorite market signal just hit its highest level in history-stocks are more overvalued than 1929. He's sitting on $325B in cash... and may be about to buy one overlooked gold miner. I've identified it-plus 4 others with up to 100X potential.

Datadog Stock Surges On S&P 500 Inclusion

Datadog Inc (NASDAQ:DDOG) shares are trading higher in Wednesday's after-hours session after it was announced that the company will join the S&P 500.

Polymarket Bettors See 50% Chance Of Fed September Rate Cuts As Trump Turns Up Heat On Powell

Cryptocurrency bettors now estimate a 50% possibility that the Federal Reserve will cut interest rates for the first time in 2025 during its September meeting.

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.

Women can be drafted into the Danish military as Russian aggression and military investment grows

HOVELTE, Denmark (AP) — Peering across a dense stretch of woodland outside of Denmark's capital with camouflage paint smeared across her face, 20-year-old Katrine scans the horizon for approaching threats.

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.

Amazon's AI-Powered 4-Day Prime Day Will Drive Billions In Sales

Bank of America analyst maintains Buy rating on Amazon with $248 price forecast, noting 11th Prime Day event to have extended 4-day window with AI savings tools and estimated $21.4B in GMV.

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 systemtrading.ca
Privacy Policy | Terms of Service