H&R Block and Intuit drop on a report that Elon Musk's DOGE may develop a new tax-filing app
CBSN
H&R Block and Intuit shares dropped on Tuesday after the Washington Post reported that President-elect Donald Trump's Department of Government Efficiency, which is run by billionaires Elon Musk and Vivek Ramaswamy, is looking at developing a free app for people to file their taxes.
The publication cited two people, who spoke on the condition of anonymity, in reporting that the leaders of the incoming administration's DOGE discussed the idea of crafting a mobile app to file income tax returns with the Internal Revenue Service.
H&R Block shares tumbled 8.2%, while Intuit shed 5.1% on Tuesday. As the dominant players in tax preparation, H&R Block and Intuit, the maker of TurboTax, generate billions in revenue annually by offering online and in-person services.
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Washington — A federal judge on Friday struck down President Trump's executive order that sought to punish the law firm Susman Godfrey, ruling that it is unconstitutional and blocking the administration from enforcing it.
The University of Virginia's president, James E. Ryan, submitted his resignation Friday in an effort to resolve Trump administration demands related to a federal investigation into the school's diversity, equity and inclusion efforts, according to sources familiar with the matter.
Americans are continually encouraged to sock away money in a 401(k) or other retirement plan to ensure a comfortable, if not cushy, life in their later years. Yet about half of all U.S. workers in the private sector lack access to an employer-sponsored retirement plan, a huge obstacle in building enough wealth to retire, a recent study finds.
Family members of the victims of American Airlines flight 5342 — which collided with an Army Black Hawk helicopter outside Washington, D.C., in January — are urging Congress to do more to address the nation's aging air traffic control system.
Washington — Republicans' goal of sending President Trump's "big, beautiful bill" to his desk within the next week appears to be on shaky ground as the legislation runs into obstacles in the Senate, with changes that risk bleeding GOP support in the House.
Washington — Kilmar Abrego Garcia, a Salvadoran man who was mistakenly deported back to his home country and then returned to the U.S. for federal prosecution, may remain in federal custody, after his lawyers and prosecutors sparred over whether he would be deported immediately upon his release while awaiting a criminal trial.
President Trump says he's "terminating all discussions on trade with Canada, effective immediately," after Canada announced a digital services tax on large foreign and domestic technology companies.
The Trump administration will revoke the legal status and work permits of hundreds of thousands of Haitian migrants in early September, arguing that conditions in Haiti have sufficiently improved for them to return home, the Department of Homeland Security announced Friday.
A bison died after it appeared to stumble into a hot spring at Yellowstone National Park last week while visitors looked on.
Defense Secretary Pete Hegseth announced on Friday the new name for the USNS Harvey Milk, a fleet replenishment oiler named after the assassinated gay rights leader and San Francisco politician who served in the U.S. Navy.
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President Trump is holding a news conference at the White House Friday, after what White House press secretary Karoline Leavitt called a "HUGE" Supreme Court victory.
Washington — The Supreme Court on Friday ruled in favor of a group of Maryland parents who challenged their school district's decision to deny them the ability to opt their elementary-aged children out of instruction featuring storybooks that address gender identity and sexual orientation.