In January 2021, Intuit will enter its 23th consecutive tax season of donating TurboTax to lower and middle-income taxpayers; the last 17 of those tax seasons through the IRS Free File program.
Free File, which is modeled after Intuit’s pioneering philanthropic efforts, gives taxpayers with the lowest Adjusted Gross Income (AGI) the option of choosing versions of online tax preparation software from multiple private companies that they can find exclusively on the IRS or State Departments of Revenue web sites.
A formal agreement between industry and the IRS ensures the tax software products are vetted, completely free to eligible taxpayers and provided at no cost to the government.
Intuit Financial Freedom Foundation (IFFF) founded and sponsors Tax Time Allies, a growing movement of public, private and nonprofit groups and organizations working to empower taxpayers to take control of their finances and save more of their hard-earned money.
Tax Time Allies promotes free IRS sponsored programs like Volunteer Income Taxpayer Assistance (VITA) programs, Free File and Tax Clinics for the Elderly (TCE) and helps people use the tax time moment to invest in their financial lives by joining savings programs or connecting to other financial empowerment efforts.
Tax refunds are often the single biggest source of income families receive all year – and often the best opportunity they have to do things like reduce their debt, increase their savings, fund their education or acquire other essential goods or services. And because tax refunds have the potential to positively affect so many lives, IFFF partners with organizations like SaverLife which helps thousands of people pledge and maintain the habit of savings.