Musk and Ramaswamy explore a free mobile tax app through DOGE, potentially disrupting the tax prep industry.

Elon Musk and Vivek Ramaswamy are exploring the creation of a free mobile tax-filing app through the Department of Government Efficiency (DOGE). This initiative aims to simplify the U.S. tax process and reduce the burden on taxpayers. The potential app would compete with existing services like TurboTax and H&R Block, causing their stock prices to drop. Currently, Americans can file taxes for free through the IRS Free File program, but it is web-based.

November 19, 2024
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