With the e-holiday season behind us, e-finance leader Intuit Inc. (Nasdaq: INTU) today launched e-tax season with the introduction of Quicken® TurboTax® for the WebSM (www.turbotax.com) for tax year 1999, the leading Web-based tax preparation service. TurboTax for the Web includes the same features and award-winning EasyStep® interview as the #1-selling TurboTax desktop software program, enabling taxpayers to prepare and file federal and state returns quickly and easily - with no need to install or download any software. TurboTax for the Web will be available January 15, 2000.
According to Forrester Research, an estimated one million tax returns or more will be prepared online in 2000. By 2003, Forrester expects the number of online returns to exceed the number prepared using desktop software.*
"With the rapidly growing acceptance of conducting personal finance online, taxes are the next logical step," said Bill Campbell, chairman and acting CEO of Intuit. "More than 85 percent of TurboTax Web product users last year were brand new to tax software."
The more than 400,000 taxpayers who used TurboTax or SecureTax online last year to prepare and file their return will have a jump start on this year's taxes. Relevant information from their 1998 tax year return can be transferred into their 1999 return to save time and increase accuracy even more. In addition, Quicken 2000 users can import relevant tax data into TurboTax for the Web to reduce this year's data entry.
File Electronically for the Fastest Refund - at No Additional Cost
Why pay up to $20 or more for a refund anticipation loan, when taxpayers can file their return electronically using TurboTax for the Web and receive any tax refund due in as little as 7-10 days - at no additional cost. TurboTax for the Web provides an end-to-end fully integrated electronic filing solution, guiding users through the entire filing process. Taxpayers can file their state tax return electronically with 38 states. Last tax season, more than 1.6 million TurboTax customers filed electronically, representing 75 percent of all electronically filed returns under the IRS online filing program.
Intuitive Interface Provides Easy Expert Navigation
The streamlined interface of TurboTax for the Web shortens the learning curve for novices. This year's "drop-dead simple" EasyStep Interview is designed to make tax preparation and filing even easier, for both experienced and first-time users, by asking questions customized to each taxpayer's unique situation. The Interview is organized to reflect how taxpayers think about the tax preparation process, not how the IRS lays out forms. And with faster page-to-page performance, taxpayers can file their returns faster than ever.
Help/guidance is always available on-screen, alleviating the need for users to search for it. And as always, the TurboTax EasyStep Interview is written in plain English, avoiding confusing and frustrating tax jargon. More than 2,000 context-sensitive FAQs (frequently-asked questions), as well as hyperlinks, provide one-click access to help/guidance when users need it. The new EasyStep Progress Bar provides a single navigational tool offering quick and easy access to every area of the taxpayer's return. Tax areas are logically organized to clearly reflect how taxpayers think about their return, without adding excess clutter and confusion for novices.
Quicken Tax Freedom Project/Free Service for Form 1040EZ, Lower Income Filers
Continuing the Quicken Tax Freedom Project introduced in August 1998, Intuit will donate its TurboTax for the Web online tax preparation and filing service for any taxpayer filing Form 1040EZ and for taxpayers with adjusted annual gross incomes of $20,000 or less, regardless of the forms they file. This free service applies to both state and federal tax returns and will be available for 1999 tax returns through October 16, 2000. According to IRS statistics, more than 55 million Americans, or about 45 percent of all individual taxpayers, are eligible to participate in the Quicken Tax Freedom Project. Last year, more than 86,000 taxpayers took advantage this free service.
Pricing and Availability
Quicken TurboTax for the Web will be available January 15, 2000 at www.turbotax.com, through the tax areas of Quicken.com (www.quicken.com), America Online and Excite.com, as well as through more than 350 financial institution, electronic retailer and Internet-related service Websites. Taxpayers can prepare and file their individual personal federal tax return for $9.95, and state returns can also be prepared and filed for any state requiring an income tax for $9.95. Both prices include electronic filing. There is no charge for Form 1040EZ filers and those who qualify for the Quicken Tax Freedom Project.
