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Intuit Takes Typing Out of Professional Tax Prep

New ProLine Tax Import Leverages Innovative Technology to Reduce Tedious, Time-Consuming Manual Data Entry; Free Trial Available

MOUNTAIN VIEW, Calif. and ROSEMONT, Ill. – Aug. 24, 2010 – Intuit today introduced ProLineTM Tax Import, an innovative add-on to the ProLine Portfolio of Products, that will enable tax professionals to import tax data from scanned source documents and digitally download data from financial institutions directly into Intuit Lacerte and Intuit ProSeries.  As a result, ProLine Tax Import alleviates the tedious task of manual data entry by securely and reliably automating the process of populating tax returns.

"Our goal is to provide products and services that streamline the workflow and increase productivity so that tax and accounting professionals can concentrate on growing their practices," said Jill Ward, senior vice president and general manager of the Intuit Accounting Professionals Division. "Recognizing that our customers spend significant amounts of time entering data and correcting errors, we have been focused on delivering Tax Import, a solution that embodies our industry vision that professional tax preparers will never have to enter data when preparing a return. Tax Import brings us one step closer to that vision with its ability to seamlessly integrate with the tax offerings in our Intuit ProLine Portfolio of professional products and services."

"I have a client who is a day trader," explained Shelley Rodriguez, a beta product user. "He had over 500 stock transactions. It would usually take me about 6 hours to input his data onto the Schedule D.  [ProLineTax Import] literally saved me 5 hours and 50 minutes. It brought the data over perfectly."

Starting today, professionals can visit www.taximport.com to learn more about ProLine Tax Import. A free trial of ProLine Tax Import will be available on September 1, 2010 for Intuit Lacerte Tax customers and later in the year for ProSeries users.

How ProLine Tax Import Works

Tax Import uses two technologies to easily populate a return. The first technology reads clients' data from scanned source documents and imports it into Lacerte and ProSeries. Tax professionals first scan the documents, send the file to Intuit for processing and then import the data into the tax return. ProLine Tax Import includes data from a variety of documents, including consolidated brokerage statements, W-2s, 1099s, and Schedule K-1s.

The second ProLine Tax Import technology downloads tax data directly from financial institutions into Lacerte and ProSeries.  Intuit's innovative direct data feed technology distinguishes ProLine Tax Import from all other offerings in the market. Once the client approves the transfer of data to the tax preparer, this unique technology downloads data directly from financial institutions through a secure website to Intuit professional tax applications. Currently, the following financial institutions are supported by this product: Bank of America, Charles Schwab, E*Trade, Edward Jones, Fidelity, Morgan Stanley, Morgan Stanley Smith Barney, Scottrade, TD Ameritrade and UBS.

ProLine Tax Import's data security is reinforced with the highest industry standards and all data is sent directly to Intuit. Intuit also uses 128-bit data encryption, the data sent to Intuit is never handled by humans during normal processing, and it never leaves the United States.

Pricing and Availability

ProLine Tax Import is scheduled to be available free for a limited time to Intuit Lacerte Tax customers starting September 1, 2010. ProLine Tax Import will be available to ProSeries customers later in tax year 2010.

About Intuit Inc.

Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation offerings for professional accountants.  Intuit Financial Services provides enhanced online banking solutions and unique insights to help banks and credit unions serve businesses and consumers with innovative solutions.

Founded in 1983, Intuit had annual revenue of $3.5 billion in its fiscal year 2010. The company has approximately 7,700 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.

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