Elizabeth Warren Says Making A 'Math Mistake' Shouldn't Cost A 'Fortune,' As Senator Touts Her New Law That Helps Push Back If IRS Gets It Wrong

Sen. Elizabeth Warren (D-Mass.) announced that her bipartisan IRS Math Act has officially been signed into law, aimed at simplifying tax filing and boosting transparency for American taxpayers. A ‘Math Mistake’ Shouldn’t Cost You A Fortune On Thursday, in a post on X, Warren said that her new bill ensures that a “math mistake” in tax filings does not cost taxpayers “a fortune or hours of work.” The legislation essentially mandates the Internal Revenue Service to explain where a filer made an error on their return and provide instructions on how to challenge it, if necessary. See Also: His Former Employer Ran A Shopify Store Under His Social Security Number. Now, The IRS Says He Owes $180K, And Dave Ramsey Goes Ballistic “For years, even making a small math mistake on your taxes turned into a terrible headache,” Warren said in a video accompanying the post. “The IRS would tell you your return was wrong, but they wouldn't tell you where you went wrong, and they sure wouldn't tell you how to fix it.” Warren described her bill as a common-sense reform that saves Americans time and money. “That means no more spending a fortune on lawyers or hours trying to find errors in tax returns.” Making a math mistake on your taxes shouldn't cost you a fortune or hours of work.That's why my bipartisan IRS MATH Act that was just signed into law makes sure you know where you made a mistake and how to push back if the IRS got it wrong. pic.twitter.com/AHqSBA6Enz— Elizabeth Warren (@SenWarren) December 18, 2025 Impact On Tax Prep Stocks Leading tax prep firm, H&R Block Inc. (NYSE:HRB), was down 1.52% on Thursday, and is flat after hours, while its competitor in this space, Intuit Inc. (NASDAQ:INTU), was up 1.23%, and is down 0.26% overnight. It remains unclear whether the legislation influenced the stock moves. However, both companies have a long track record of lobbying against efforts to simplify tax filing, such as the IRS Free File program and other direct filing proposals over the years. According to federal disclosures, Intuit spent nearly $3.8 million on lobbying in 2024, while H&R Block reported $3.1 million in lobbying expenditures. H&R Block scores poorly in Benzinga’s Edge Stock Rankings, with low Momentum and Value scores, and an unfavorable price trend in the short, medium and long terms. Click here to see how it compares with Intuit. Read More: IRS Rule Changes In 2026 Bitcoin, Ethereum, XRP Traders Need To Know About Photo Courtesy: Ron Adar on Shutterstock.com