TurboTax is a software package for preparation of American income tax returns, produced by Intuit.
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16 Facts About TurboTax
2.
TurboTax was developed by Michael A Chipman of Chipsoft in 1984 and was sold to Intuit in 1993.
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3.
Intuit, the maker of TurboTax, has lobbied extensively against the Internal Revenue Service creating its own online system of tax filing like those that exist in most other wealthy countries.
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4.
TurboTax has tricked military service members to pay to use the filing software by creating and promoting a "military discount" and by making the free version hard to find when many service members are in fact eligible to use the software for free.
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5.
TurboTax is available for both federal and state income tax returns.
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6.
The TurboTax software provides taxpayers additional support for their self-prepared returns by offering Audit Defense from TaxResources, Inc.
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7.
In 2001, TurboTax saved financial institution passwords entered by users to servers at Intuit and the home computer.
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8.
The programming error was reportedly fixed, but as of 2012 TurboTax offers no option to download a data file directly from the financial institution.
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9.
TurboTax responded by removing the product activation scheme from its product.
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10.
In 2005 TurboTax extended its offering by allowing any taxpayer to use a basic version of its federal product for free as part of the Free File Alliance.
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11.
TurboTax has received a number of complaints regarding its advertising of the free version.
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12.
TurboTax's new "Pay Per Return" policy was criticized for adding a $9.
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13.
Geithner had testified that he used TurboTax to prepare his tax returns for the years 2001 to 2004 but had incorrectly handled the self-employment taxes due as a result of his being employed by the International Monetary Fund.
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14.
TurboTax has been deceiving customers which were eligible for the free submission into signing up for their commercial product.
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15.
Intuit, the owner of TurboTax, spent more than $11 million on federal lobbying between 2008 and 2012.
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16.
TurboTax lobbied on bills in 2007 and 2011 that would have barred the Treasury Department, which includes the IRS, from initiating return-free filing.
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