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Intuit to Help 1 Million Low-Income and Active Military Taxpayers Maximize Their Refunds

Public-Private Partnership Promotes Financial Literacy Through Free Tax Preparation

Mountain View, Calif. – Jan. 28, 2011 – To support National Earned Income Tax Credit Awareness Day, Intuit Inc. (Nasdaq: INTU) today reaffirmed its commitment to help more than 1 million low- to moderate-income and active military taxpayers prepare and file their taxes for free.

Through the IRS Free File program, Intuit provides free online tax preparation and electronic filing for individuals who qualify for the Earned Income Tax Credit, or EITC. The program is also available to active duty military with an adjusted gross income of $58,000 or less, or those who have an adjusted gross income of $31,000 or less. Since 1998, Intuit has donated more than 22 million returns to low- and moderate- income taxpayers.  

Last year, California taxpayers alone left more than $1 billion unclaimed in EITC funds. Intuit is working with nonprofit groups and public and private sector partners to promote financial literacy through free tax preparation and assistance. The company’s Free File product offering, TurboTax Freedom Edition, is designed to help taxpayers keep more of what they earn.

The Intuit Financial Freedom Foundation supports programs serving the public interest and is partnering with the following not for profit groups in local communities:

  • IRS Volunteer Income Tax Assistance Programs – At IRS VITA sites in 12 communities across the country, taxpayers can prepare their returns on their own or with the assistance of an onsite coach using TurboTax Freedom Edition.
  • New York City Department of Consumer Affairs, Office of Financial Empowerment –Taxpayers can prepare and file their federal, state and city returns online with TurboTax Freedom Edition at 20 free tax assistance sites throughout New York City. The program is a cornerstone of Mayor Michael Bloomberg’s campaign designed to increase awareness about EITC.
  • Computer and Communications Industry Association – Throughout tax season, Intuit is participating in more than 30 CCIA sponsored events across the country that help the public experience the benefits of free online self tax preparation through the IRS Free File program and 21 State Free File programs.

“Programs like this help economically disadvantaged or underserved individuals achieve financial independence,” said Dan Maurer, senior vice president and general manager of Intuit’s Consumer Group. “By partnering with nonprofits, as well as the public and private sector, we’re able to share our expertise in innovative online tax preparation and electronic filing and help them get the money they deserve.”

Find Assistance in Your Community

At tax assistance events around the country, eligible tax filers can accurately and easily prepare their returns for free with TurboTax Freedom Edition, ensuring they claim all the deductions and credits they deserve. Intuit has also simplified the process of helping taxpayers determine if they are eligible for EITC by creating the EITC Calculator. The free, online tool asks a few questions and empowers tax payers to determine if they can claim the credit of up to $5,600 for a family.

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 helps banks and credit unions grow by providing on-demand solutions and services that make it easier for consumers and businesses to manage their money.

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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