The NewsElon Musk’s early push to streamline the government is already hitting Intuit and H&R Block, whose shares dropped amid chatter of a free tax-filing app floated by Musk’s new Department of Government Efficiency. Intuit’s shares fell 5% while H&R Block’s stock dropped 8% Tuesday, marking its worst performance since 2020.“Crazy idea: let’s simplify the tax code,” Musk posted on X.If launched, the app would come on the heels of work from the…

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Elon Musk’s idea to simplify tax filings hits Intuit and H&R Block stocks

H&R Block, Intuit stock dropped amid a report that Elon Musk's Department of Government Efficiency may develop a tax filing app.

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CBS News

National Amusements

Michael Redstone

H&R Block and Intuit drop on a report that Elon Musk's DOGE may develop a new tax-filing app

The new, non-government Department of Government Efficiency (DOGE) led by Elon Musk and Vivek Ramaswamy has turned its attention toward simplifying the U.S. tax code.
“In 1955, there were less than 1.5 million words in the U.S. Tax Code,” the department said in a recent post on social media platform X.
“Today, there are more than 16 million words. Because of this complexity, Americans collectively spend 6.5 billion hours preparing and filing the…

The Epoch Times

Epoch Media Group

New Efficiency Department Suggests Simpler Tax Code; H&R Block, Intuit Stock Fall

Justin B. Smith, Ben Smith

The leaders of President-elect Donald Trump's "Department of Government Efficiency" discussed creating a new way for Americans to file their taxes.

Accounting Today

Intuit and H&R Block fall on report of 'DOGE' interest in tax app

The Washington Post reported that leaders of the new "Department of Government Efficiency" have discussed creating a tax filing app.

Elon Musk’s idea to simplify tax filings hits Intuit and H&R Block stocks

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