The Direct File Act of 2026 establishes a free, public e-filing system for federal income taxes, directly competing with existing tax preparation services. This bill significantly reduces the addressable market for companies like Intuit and H&R Block, leading to substantial revenue declines.
The Direct File Act of 2026 establishes a government-run tax filing system, directly competing with private tax preparation services. This bill creates a significant headwind for companies like Intuit ($INTU) and H&R Block ($HRB) by reducing demand for their core offerings.