Press Releases

Expanded TurboTax For The Web Goes Live: Intuit Increases Online Offerings In Anticipation Of Another Record-Setting E-Tax Season
Leading online tax preparation and filing solution adds new Deluxe, Premier and Premier Home & Business service to mirror desktop software offerings with the speed, ease and convenience of the Web
SAN DIEGO - January 13, 2003 - Millions of American taxpayers this year will throw away their pencils and calculators and move online to prepare their taxes with more speed, greater accuracy and fewer headaches. And beginning today, the premier online tax preparation service, TurboTax® for the WebSM from Intuit is available with new services to help millions of taxpayers address their individual tax needs online with confidence. Last tax season a record number of taxpayers used the Internet to prepare and file their taxes, with just over 3.2 million using TurboTax for the Web services.

With TurboTax for the Web, taxpayers can prepare and file their 2002 federal and state income tax returns conveniently without leaving their home or downloading any software. They can prepare their return entirely online at any time from any computer with Internet access. Taxpayers can even "try before they buy", using TurboTax for the Web to prepare their taxes at no cost until they print or electronically file their return. Using TurboTax for the Web, customers can complete their taxes at their own pace, starting and stopping as often as they want. Every time they return to TurboTax for the Web, they simply pick up where they left off.

"TurboTax for the Web continues to be the top choice for taxpayers who want to enjoy the speed and convenience of online tax preparation," said Tom Allanson, senior vice president of Intuit's Consumer Tax Group. "Increased growth year over year on the Web continues to show that millions of American taxpayers are opting to put aside the time-consuming paper and pencil preparation method and go online instead."

Expanded Web Offerings Mean More Options for Web Customers
This year, TurboTax for the Web customers have access to many more of the options long enjoyed by TurboTax desktop software customers including an expanded product offering. In addition to the TurboTax for the Web 1040EZ and the TurboTax for the Web Basic services, Intuit's new online services include:

TurboTax for the Web Deluxe

  • Offers complete tax-saving features and tools including, Instant Data Entry, My Tax History, which allows a return customer to bypass interview screens that don't apply to them and streamline the interview process based on their unique tax history, and comprehensive tax planners.

TurboTax for the Web Premier

  • TurboTax Premier for the Web includes all the features of TurboTax for the Web Deluxe plus tax-saving tools such as the 401k Maximizer, Year-to-Year Deduction Manager and 10-Year Tax Forecaster. It even includes extra guidance for sole proprietors (Schedule C), investors (Schedule D) and rental property owners (Schedule E). It's the ultimate way to prepare and manage personal taxes on the Web!

TurboTax for the Web Premier Home & Business

  • TurboTax Home & Business for the Web includes Instant Data Entry, Home Office Expert, Depreciation Expert and a Business Tax Advisor. A great online tax preparation solution for the customer with a home office or small business.

Instant Data Entry Feature Continues to Grow
This year, Intuit has expanded its Instant Data Entry (IDE) program so that millions of more customers can easily import common tax information - including wages, interest, dividends and stock and mutual fund transactions - directly into their TurboTax for the Web return. New this year to the IDE program is ADP Employer Services, a division of ADP, Inc. With over 30 million wage-earners able to import their W-2's into their TurboTax return, IDE is now open to a whole new group of customers who want to save time and prepare their return with more accuracy. Intuit also increased the number of participating financial institutions, brokerages, mutual funds and employer services companies from ten the first year to more than 70 this tax season, representing more than 100 million tax forms instantly available for retrieval into TurboTax products.

E-filing Helps Consumers Get Refunds Back Fast and Have the Confidence the IRS has Received Their Return
Once a taxpayer has finished preparing their return online, they can quickly and easily file their return electronically, included in the cost of any TurboTax for the Web service. By electronically filing their returns, taxpayers can receive refunds in as little as 10 days, compared to six weeks for returns filed by mail. TurboTax for the Web customers can file their state tax returns electronically with 44 states and the District of Columbia.

TurboTax for the Web State Availability
TurboTax for the Web supports all 44 states with income tax plus the District of Columbia. Log on to www.turbotax.com for your state's availability.

TurboTax for the Web is FREE to 60 Million American Taxpayers
For the sixth consecutive year, Intuit is offering its award-winning Intuit Tax Freedom Project, an initiative of the Intuit Financial Freedom Foundation, that donates online tax preparation and electronic filing for taxpayers with adjusted gross income of $27,000 or less or who qualify for the Earned Income Credit. In addition, Intuit has joined with other tax preparation software companies to form the FreeFile Alliance, an IRS-sanctioned consortium of private sector companies offering free preparation and electronic filing services for federal tax returns to millions of Americans.

According to IRS statistics, approximately 60 million taxpayers qualify for free tax preparation and filing under the ITFP program alone. Eligible taxpayers who don't have a computer at home can go to local libraries, schools, senior centers, community centers and other public facilities that provide access to computers and the Internet. Eligible taxpayers must access the Intuit Tax Freedom Project at www.quicken.com/freedom to qualify.

Pricing and Availability
TurboTax for the Web is now available at www.turbotax.com and through more than 1,200 other leading financial institution, electronic retailer and Internet-related service Web sites.

TurboTax for the Web 1040EZ returns are $9.95 through April 1 and $12.95 beginning April 2. TurboTax for the Web Basic returns are $19.95 through April 1 and $29.95 as of April 2. Returns prepared with TurboTax for the Web Deluxe are $29.95 through April 1 and $39.95 beginning April 2. TurboTax for the Web Premier is $49.95 through April 1 and $59.95 as of April 2. TurboTax for the Web Premier Home & Business is $59.95 April 1 and $69.95 as of April 2. Corresponding state returns are $14.95 and $ 5.95 for state EZ returns. Electronic filing for federal and state returns is included with purchase of any service at no additional charge.

About TurboTax
In its 19th tax season, TurboTax was the No.1-selling tax preparation software program in 2001, with 71 percent share of units sold at retail according to NPD Intelect. Its Web-based counterpart, the TurboTax for the Web service, is the most popular site for online tax preparation and filing services. With more than 19 years of personal finance expertise, the TurboTax family of products saves time and money for more than 15 million Americans each year.
 
About Intuit Inc.
Intuit Inc. (NASDAQ: INTU) is a leading provider of business and financial management solutions for small businesses, 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.

Founded in 1983, Intuit has annual revenue of more than $1 billion. The company has nearly 7,000 employees with major offices in 13 states across the U.S. and offices in Canada and the United Kingdom. More information can be found at www.intuit.com.
 
Intuit, the Intuit logo, Quicken, QuickBooks, and TurboTax, among others, are registered trademarks and/or registered service marks of Intuit Inc. or one of its subsidiaries. Quicken.com and Quicken TurboTax for the Web, among others, are trademarks and/or service marks of Intuit Inc. or one of its subsidiaries. Other parties' trademarks or service marks are the property of their respective owners and should be treated as such.

This press release includes "forward-looking" statements about the prospects for Intuit's tax business. For example, statements in the future tense, and statements such as we "expect," we "anticipate" we "plan" or we "believe" are forward-looking statements. Investors should be aware that actual results might differ materially from our expressed expectations because of risks and uncertainties about the future. Intuit will not necessarily update the information in this press release if any forward-looking statement later turns out to be inaccurate. Risks and uncertainties affecting Intuit's tax business include the following: Our revenue and earnings are highly seasonal, particularly for our tax business, and our quarterly and annual financial results fluctuate significantly. Returns for desktop software can be significant, and could exceed the revenue reserves we have established for them. Our web-based tax preparation and electronic filing services are expected to face extremely heavy customer demand during the peak tax season. We must maintain high reliability for web-based tax preparation and electronic filing in order to continue expanding these businesses. If we fail to provide responsive customer service and technical support, we could lose customers. The expansion of the availability of the ATR feature requires the participation of third parties including payroll companies and financial institutions. Additional information about factors that could affect future results and events is included in Intuit's fiscal 1999 Form 10-K and subsequent reports filed with the Securities and Exchange Commission.