Credit Karma members will enjoy fast
filing—some in as little as 10 minutes—and early refund access with
Credit Karma Money; QuickBooks small business customers will
receive unlimited expert assistance for smooth tax preparation and
filing
Intuit Inc. (Nasdaq: INTU), the global financial technology
platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and
Mailchimp, announced today that Credit Karma members and QuickBooks
Online customers can prepare and file their 2023 taxes through
TurboTax within the Credit Karma and QuickBooks Online product
experiences. Combining Intuit’s AI-platform capabilities and the
tax knowledge engine powering TurboTax with a filer’s personal and
financial data already present in Credit Karma or QuickBooks, these
integrations create a more seamless and personalized tax
preparation and filing experience for individual tax filers and
small business owners.
TurboTax delivers a suite of full service, assisted, and DIY tax
preparation offerings for individuals, families, and small
businesses to serve customers however they want to file and where
they are most comfortable, including in Credit Karma and QuickBooks
Online. Filers can choose to file their taxes themselves, with
assistance along the way, or fully hand off their taxes for a
virtual or in-person1 tax preparation experience and receive the
same TurboTax maximum refund and accuracy guarantees no matter
which Intuit product they choose to file from.
“Our vision is to deliver the trusted TurboTax experience to
individuals and small businesses however they want to file and
where they want to file, including across the Intuit ecosystem of
products and services,” said Executive Vice President and General
Manager of Intuit's Consumer Group, Mark Notarainni. “The
integration of TurboTax into Credit Karma and QuickBooks helps us
meet our customers where they are so they can file with complete
confidence knowing they are getting their best tax outcome, all in
a familiar product experience.”
Credit Karma offers tax filing to millions of
Americans
Credit Karma members who did not file with TurboTax last year
and who choose to do their taxes themselves will be able to file
their federal and state taxes in the Credit Karma app with TurboTax
at no cost2, and in some cases in as little as 10 minutes. For
members who prefer additional assistance when filing their taxes,
tax expert assistance is available at an additional cost. Eligible
members will also have the option to get faster access to cash this
tax season and receive recommendations on how to make the most of
their refund.
Through the TurboTax integration, taxpayers can access their
refund up to five days early3 when they deposit it into a Credit
Karma Money™ account4 or, for those who qualify, get a Refund
Advance loan5 in as little as 30 seconds after the IRS accepts
their return6. Members who choose to receive personalized guidance
and are due a refund will receive recommendations about how to
leverage their refund to make financial progress, such as opening a
high-yield savings account with Credit Karma Money to start earning
interest on their savings. Filers can also access other
opportunities to make financial progress, like applying for a
Credit Builder plan7 to begin building credit and saving money.
“Our members trust us to help them understand and manage their
finances and we’re taking that one step further by helping them
file their taxes and make a plan for their refund,” said Courtney
Alev, General Manager of Tax at Credit Karma. “This year, we’re
taking the stress out of tax filing by making it as easy as
possible for our members to file their taxes with TurboTax on the
Credit Karma app they already know and love. We’re also giving
members faster access to their refund, as well as recommendations
for how to put their refund to work, so they can take action and
start making financial progress.”
QuickBooks Online makes moving from books to taxes
seamless
Maximizing tax deductions is a priority for small businesses, as
nearly a third (32%) of small businesses created since 2020 were
funded in part by tax refunds, according to a recent QuickBooks
report. At the same time, being compliant is also among small
business owners’ top concerns. Now, qualifying QuickBooks Online
customers who file their taxes with TurboTax through QuickBooks
Live Tax will save time and effort by seamlessly moving from books
to taxes and gain access to unlimited expert help to get their
maximum refund, guaranteed.
“Preparing and filing taxes can be time consuming and research
intensive for small business owners, taking away from what they're
passionate about,” said Vice President of Product Management for
the Business Tax Ecosystem at Intuit, Matt Lisowski. “We're
offering small businesses peace of mind by providing tax experts to
prepare and file taxes with the best outcome guaranteed, along with
year-round guidance from accounting experts to maximize their daily
business moves all from within QuickBooks.”
This tax season, QuickBooks Online has a solution for many small
business structures:
- QuickBooks Live Full-Service Tax - S-Corps, multi-member
LLCs, and partnerships can fully hand off their business taxes to a
team of experts who will help them get ready for tax time and file
their taxes, accuracy guaranteed.
- QuickBooks Live Assisted Tax - Sole proprietors and
single-member LLCs filing a Schedule C (Form 1040) can get their
self-employment taxes done right with unlimited expert advice.
With QuickBooks Live Tax, specialized experts from TurboTax can
deliver unlimited, on-demand guidance, answer questions, and
provide support in case of an audit. The tax experts can also help
uncover tax deductions to minimize tax burdens. QuickBooks Live Tax
costs vary by entity and service type and start at $169, with
payment required only when tax returns are filed. Small businesses
can find their cost and sign up by logging into their QuickBooks
Online account, tapping “Taxes” in the left navigation panel, and
selecting “Year-End Tax Filing.”
With Intuit’s 100% Accurate, Expert Approved Guarantee, Maximum
Refund Guarantee, and Audit Support Guarantee, small businesses
will file their taxes with confidence. For more information about
the new QuickBooks Live Tax solution, visit the QuickBooks Blog
here.
About Intuit
Intuit is the global financial technology platform that powers
prosperity for the people and communities we serve. With 100
million customers worldwide using TurboTax, Credit Karma,
QuickBooks, and Mailchimp, we believe that everyone should have the
opportunity to prosper. We never stop working to find new,
innovative ways to make that possible. Please visit us at
Intuit.com and find us on social for the latest information about
Intuit and our products and services.
1 Not all feature combinations are available for all locations.
“Local” experts are defined as being located within the same state
as the consumer for virtual meetings. In-person meetings with local
Pros are available in some locations, but not available in all
States or locations. “Local” Pros for the purpose of in-person
meetings are defined as being located within 50 miles of the
consumer’s zip code. Not all pros provide in-person services. 2
Limited time offer only for Credit Karma members who did not file
their Tax Year 2022 taxes using TurboTax Online, TurboTax Desktop,
or the TurboTax mobile app. Excludes members who have already filed
their Tax Year 2023 taxes using TurboTax. New members who are
eligible may not be able to access the offer for up to 28 hours
after registration. Offer terms and availability subject to change
at any time without notice. 3 To be eligible, you don’t need to
file your taxes with a particular tax prep service. However, you
will not be eligible if you choose to pay your tax preparation fee
using your federal tax refund or choose to take a Refund Advance
loan. 5-day early program may change or discontinue at any time. Up
to 5 days early access to your federal tax refund is compared to
standard tax refund electronic deposit and is dependent on and
subject to IRS submitting refund information to the bank before
release date. IRS may not submit refund information early. 4
Banking services provided by MVB Bank, Inc., Member FDIC. Maximum
balance and transfer limits apply. A maximum of 6 withdrawals per
monthly savings statement cycle may apply. 5 The Refund Advance
loan is provided by First Century Bank, N.A., Member FDIC, not
affiliated with MVB Bank, Inc., Member FDIC. Refund Advance is
facilitated by Intuit TT Offerings Inc. (NMLS # 1889291), a
subsidiary of Intuit Inc. Terms apply. Learn more here:
https://turbotax.intuit.com/refund-advance. 6 IRS accepts returns
starting late-Jan. Acceptance times vary but most receive funds
within 4 minutes of acceptance. 7 Credit Builder plan requires you
to open a line of credit and a savings account, both provided by
Cross River Bank, Member FDIC. Credit Builder is serviced by Credit
Karma Credit Builder. Members with a TransUnion credit score is 619
or below at the time of application may be promoted to apply for
Credit Builder. If your score increases over 619, you may no longer
see these prompts.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240108534303/en/
Karen Nolan, karen_nolan@intuit.com
Intuit (NASDAQ:INTU)
Historical Stock Chart
From Apr 2024 to May 2024
Intuit (NASDAQ:INTU)
Historical Stock Chart
From May 2023 to May 2024