The Most Important "AI Stock" You've Never Heard Of

The AI revolution is moving faster than anyone expected. But what no one is talking about is the one company AI simply can't exist without. It may be the single most important AI investment, yet most people don't even know its name. For now. The moment Wall Street catches on, this $20 stock could explode.

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

Levi Strauss agrees to sell Casual Friday staple Dockers for up to $391 million

NEW YORK (AP) — Levi Strauss is set to finally part ways with Dockers — inking a deal to sell its brand once credited with propelling the popularity of “Casual Fridays” to Authentic Brands Group.

Prosecutors seek 20-year prison term for founder of failed crypto platform Celsius Network

NEW YORK (AP) — The founder and former CEO of the failed cryptocurrency lending platform should face 20 years behind bars for lying and self-dealing that cost customers billions of dollars in losses, prosecutors told a judge Tuesday.

Have You Seen this Strange Elon Musk Device? - Ad

Tech legend Jeff Brown predicts this "space technology" will be Elon Musk's next trillion-dollar business, and it will make a lot of people rich. This could be the biggest internet innovation since the first web browser Netscape kicked off the internet boom in the late 1990s.

India-Pakistan Ceasefire Teeters As Blasts Shatter Calm In Kashmir

Explosions in Kashmir just hours after a U.S.-brokered India-Pakistan ceasefire have cast doubt on the truce's stability.

Ford CEO welcomes relief on tariffs but says more work is needed on trade policies to spur growth

LOUISVILLE, Ky. (AP) — Ford Motor Company's top executive on Wednesday welcomed but said more work is needed to craft trade policies that spur growth in the U.S. auto industry.

No.1 Opportunity for 2025 [Take Action Now!] - Ad

Starlink's potential IPO Could Be the Biggest in History--Silicon Valley insider James Altucher has uncovered a way to profit BEFORE the IPO--with as little as $50. Musk's $180B giant is set to launch--will you miss out? Claim your spot before it's too late.

Mark Zuckerberg Overtakes Jeff Bezos To Become World's Second-Richest Person As Meta Stock Soars

Mark Zuckerberg has surpassed Jeff Bezos to become the world's second-richest person, with a net worth of $212 billion, following a surge in Meta's stock price.

India's leader Modi touted all was well in Kashmir. A massacre of tourists shattered that claim

SRINAGAR, India (AP) — Hundreds of Indian tourists, families and honeymooners, drawn by the breathtaking Himalayan beauty, were enjoying a picture-perfect meadow in Kashmir. They didn’t know gunmen in army fatigues were lurking in the woods.

You Can Take a Stake in Elon's xAI Before June 1st... - Ad

Elon Musk's private AI firm xAI may have just leapfrogged ChatGPT and Google's Gemini--building what experts call the future of AI. For the first time, you can take a stake starting at $500.

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.

Apple, Amazon, Reddit, Strategy, Block: Why These 5 Stocks Are On Investors' Radars Today

Wall Street experienced a positive momentum as the S&P 500 marked its eighth consecutive day of gains on Thursday, climbing 0.6% to 5,604.14. This rally helped the index recover from losses incurred due to trade tariffs announced by President Donald Trump.

Asian shares rise in subdued holiday trading, as US futures jump

TOKYO (AP) — Asian shares advanced Thursday, with many markets in the region closed for Labor Day holidays, after U.S. stocks stormed back from steep early losses to a seventh straight day of gains.

Brace Yourself for Jeff Bezos' "Amazon Helios" - Ad

Amazon delivers 20 million packages a day... powers some of the most popular websites... delivers medication to half of the U.S. population... and even produces award-winning films and TV shows. But a Wall Street legend -- twice featured on 60 Minutes -- predicts that "Amazon Helios" will be bigger than all of those... COMBINED.

Harassed by Assassin’s Creed gamers, a professor fought back with kindness

HANOVER, N.H. (AP) — Sachi Schmidt-Hori has never played Assassin’s Creed Shadows, but facing an onslaught of online harassment from its fans, she quickly developed her own gameplay style: confronting hate with kindness.

Trump Boots Mike Waltz As National Security Adviser, Taps Marco Rubio As Interim Replacement

Trump ousts national security adviser Mike Waltz amid internal tensions and a messaging scandal, naming him UN ambassador and replacing him temporarily with Secretary of State Marco Rubio.

The AI Bottleneck Is Real-and One Firm Is Solving It - Ad

AI is scaling fast-but infrastructure is lagging. This firm isn't just aware of the problem, it's building the solution: servers, GPUs, and strategic AI deployments. NVIDIA noticed. Investors should too.

Activists to rally worldwide on May Day, with US protests targeting Trump policies

CHICAGO (AP) — From worker rights rallies to marches for social justice, activists around the globe will kick off demonstrations on Thursday.

California high-speed rail leader pushes state to support private investment

SACRAMENTO, Calif. (AP) — A long-delayed project promising nonstop rail service between San Francisco and Los Angeles in under three hours may be able to secure the private funding it desperately needs if California agrees to pay the investors back, its chief executive told The Associated Press.

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.

Warren Buffett's Favorite 'Single Best Measure' For Equities Flashes Buying Signal As US Stocks Rebound

Warren Buffett's favored "Buffett Indicator" suggests U.S. equities may be undervalued, signaling a potential buy opportunity as stocks rebound.

The Cross-Chain Giant Set for 1,000%+ Gains - Ad

This multi-chain protocol's volume is exploding while its price is still under the radar. Institutions are moving in fast-get our urgent report before retail wakes up.

What's Going On With Shake Shack Stock On Thursday?

Shake Shack shares rose after Q1 sales grew 10.5% and margins improved, despite missing EPS and revenue estimates.

Trump threatens 100% tariff on foreign-made films

NEW YORK (AP) — is opening a new salvo in his tariff war, targeting films made outside the U.S.

Elon Musk Drops Stunning Bombshell? - Ad

Behind closed doors, Musk revealed a game-changing breakthrough technology that could shake the tech world & crush major companies. Why is no one talking about it? Luckily, we had a man on the inside - watch now to see the details & how to profit!

What customers can expect as Rite Aid closes or sells all its drugstores

Rite Aid customers can expect their local store to close or change ownership in the next few months, as the struggling drugstore chain goes through .

AI developers should counter misinformation and protect fact-based news, global media groups say

GENEVA (AP) — A global group of broadcasters and publishers is calling on artificial intelligence developers to make sure their technology serves the public by helping to counter misinformation and protect the value of fact-based news.

The Most Important "AI Stock" You've Never Heard Of - Ad

The AI revolution is moving faster than anyone expected. But what no one is talking about is the one company AI simply can't exist without. It may be the single most important AI investment, yet most people don't even know its name. For now. The moment Wall Street catches on, this $20 stock could explode.

India and Pakistan don’t fight wars like other countries. Here’s why

ISLAMABAD, Pakistan (AP) — have fought three full-scale wars since they gained independence from British India in 1947. They’ve also had dozens of skirmishes and conflicts, including one atop a glacier dubbed the coldest and highest-altitude battlefield in the world.

Hims & Hers Stock Soars 32% Since Tuesday On Strong Q1 Earnings And Robust Outlook

Hims & Hers Health shares have surged 32.4% since Tuesday's session open. The stock is gaining following a standout first-quarter earnings report released late Monday.

Powering Ai's Future? One Company Is Already Doing It - Ad

Massive compute demand is choking AI's growth. While others wait, this firm is building infrastructure now-with elite GPUs and long-term contracts.

Desperate children and adults in Gaza struggle to get food as Israel blocks aid

KHAN YOUNIS, Gaza Strip (AP) — Screaming in anguish as the desperate crowd crushes them against a barrier, young children and adults frantically wave pots and pans at charity workers, begging for a portion of some of the last food aid left in Gaza: Rice.

Senate confirms Bisignano to lead Social Security Administration as agency faces DOGE overhaul

WASHINGTON (AP) — Wall Street veteran Frank Bisignano was confirmed by the Senate on Tuesday to lead the , taking over at a turbulent time for the agency that provides benefits to more than 70 million Americans.

Government Moves + Nvidia Deals = AI Infrastructure Tailwinds - Ad

From Trump's Stargate initiative to NVIDIA's $500B bet, AI infrastructure is now strategic. This company is positioned at the heart of the buildout.

Charlie Munger Says The Secret Is To 'Find Costcos, Not Good Exits,' Saying His Wealth Came From Relentless Holding And Not Slick Sell Signals

Legendary investor Charlie Munger advised to find durable, well-run businesses and hold them for decades, like Costco. His loyalty and simple investing philosophy still influence Berkshire Hathaway.

World Economic Forum: "Arguably the Most Exciting Human Discovery Since Fire" - Ad

Sam Altman, Bill Gates, and Mark Zuckerberg are all investing vast sums of money into a radical technology. According to Bloomberg, this could become 10 times bigger than AI, quantum computing, electric vehicles, cryptocurrencies, and robotics combined. And one stock is at the center of it all.

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