With still one week left to go until Tax Day, Intuit Inc. (NASDAQ: INTU) today announced record sales of its #1-selling TurboTax® personal tax preparation software program, with 4.1 million units sold so far this year. This represents 800,000 units more than total sales in tax year 1997. In addition, the number of returns prepared and completed as of April 6, 1999 through WebTurboTaxSM (www.webturbotax.com), the leading Web-based tax preparation service, is 288,000 (Federal and state) - thirteen times the total usage of its Web-based offering last tax season.
"Americans have clearly chosen, once again, TurboTax as number one," said Bob Meighan, vice president of Intuit's Personal Tax Group. "And with the added achievement of transitioning our technology to WebTurboTax, we've also experienced roaring success with the leading tax preparation service on the Web."
With WebTurboTax leading the way with more than 280,000 returns completed so far, Web-based tax returns have already exceeded Forrester Research projections that the total online tax preparation category would account for 250,000 returns this season. Intuit also reports that 1.2 million Federal returns - prepared by its TurboTax family of software programs and services - have been accepted by the IRS through Intuit's Electronic Filing Center as of April 5.
