This tax season, a growing number of taxpayers chose to go "online" instead of waiting "in line" at the post office. Intuit Inc. (NASDAQ: INTU) today announced six times more volume this tax season over last in the usage of its Quicken® TurboTax® for the WebSM service, the leading site for Web-based tax preparation and filing.
Since January 15, 2000, more than 2.2 million taxpayers logged on to TurboTax for the Web, with 1.4 million of those completing their federal tax return by the April filing deadline. This accounts for an estimated 75 percent of all returns prepared on the Web. In addition, 873,000 state tax returns have also been prepared using the service so far this year.
"Our incredible success this year reflects the confidence our customers have in our systems and software," said Bob Meighan, vice president of the Intuit Consumer Tax Group. "This was our fourth year offering Web-based tax preparation, so we understand what it takes to make tax preparation via the Internet faster, easier and reliable."
The company also reported that through the same date, 4.4 million federal and 2.2 million state returns were filed electronically this year through its Quicken TurboTax and Quicken MacInTax® desktop programs and TurboTax for the Web. This represents 75 percent of all personally electronically filed returns under the IRS online filing program.
