"If you're still preparing your taxes with pencil and paper, this is the year to try TurboTax. With the addition of the Automated Tax Return, we've made it even easier, faster and more convenient to prepare and file a tax return," said Steve Bennett, president and chief executive officer of Intuit. "The bottom line for taxpayers is that they can get their refund faster. TurboTax slashes the time it takes to prepare a return, and by electronically filing, taxpayers can get their refund in as little as 10 days, compared to six weeks if filing by mail. And for people who are not sure if TurboTax is right for them, we've designed it so they can 'try before they buy' on the Web. TurboTax is a complete, end-to-end solution that is using breakthrough technology to make tax preparation and filing drop dead simple."

Automated Tax Return Delivers Effortless Tax Preparation
The Automated Tax Return (ATR) delivers hassle-free tax preparation by retrieving common tax information - wages, interest, dividends and stock transactions - from participating companies, and automatically entering that information in the correct forms in TurboTax. The Automated Tax Return does all the work, benefiting consumers by:

• Eliminating the hassle of organizing tax documents
• Filling in tax forms automatically
• Saving time and frustration - while the average tax return takes about eight hours to prepare, with TurboTax, that time is cut in half, and the Automated Tax Return shaves off even more tax preparation time, and
• Reducing data entry errors - According to the IRS, 20% of tax returns prepared manually have an error, compared to only 1% of returns that are electronically filed.

Intuit has teamed with leading payroll processors, financial institutions and e-business applications providers to electronically deliver tax information directly into TurboTax. This season, Intuit estimates that 15 to 20 million W-2s and 1099s will be available for import directly into TurboTax forms. Participating W-2 and 1099 providers for tax year 2000 are Ceridian, PeopleSoft, ProBusiness, Cititrade, Fidelity Investments, Salomon Smith Barney, TD Waterhouse, T. Rowe Price and The Vanguard Group.

The Automated Tax Return also makes it even easier to transfer tax-related data from Quicken®, QuickBooks® and other personal finance software, including Microsoft Money. With the new Just-in-Time imports, users get just the information they need when they need it.

By leveraging the breakthrough technology of the Automated Tax Return, TurboTax 1040 products (Windows only) now automatically transfer last year's tax information from H&R Block's TaxCut and Microsoft's TaxSaver. Consumers who are looking to benefit from the power and simplicity of TurboTax now have an easy, fast and convenient way to import prior year tax information from other tax preparation software.

"We understand that people hate doing their taxes. That's why, for the past 17 years, we've introduced innovation after innovation - each one designed to make TurboTax the easiest, smartest and most accurate tax software available," said Bob Meighan, vice president of Intuit's Consumer Tax Group. "This year, with the Automated Tax Return, we're pushing the envelope, completely redefining how people do their taxes. ATR does all the work - retrieving, organizing and entering information, so you don't have to. Now that we have the technology in place, we're very focused on expanding the scope of ATR so that our vision of the 10-minute tax return becomes a reality for every consumer."

Financial Management Tools Offer Added Choice and Convenience

TurboTax for tax year 2000 offers new financial management tools that give consumers added ease, choice and convenience. TurboTax offers comprehensive help and FAQs, but for those tax filers who also want the option of contacting a tax professional while preparing their taxes, TurboTax now offers Tax Advisor, a referral network of professional tax experts. For a fee, users can discuss their unique tax situation with a tax professional by phone, email or instant messaging.

This year, TurboTax is also making it even easier and more convenient to take advantage of tax advice throughout the product. TurboTax offers deduction assistance to give consumers opportunities to reduce their tax liability by setting up and contributing to an IRA or by making a tax-deductible charitable contribution through links to participating organizations. TurboTax helps users maximize the use of their refund by offering money-saving opportunities for investing, paying off debt or planning a vacation. Also new this year is Quick Cash, a refund anticipation loan for tax filers who want a loan on their refund (up to $5,000 less applicable fees) in as little as two days. Fees range from $29 to $89 depending on the amount of the loan.

Giving to Charity Just Got Easier
New this year, TurboTax is working with two leading charity Internet sites to give taxpayers a quick, easy and convenient opportunity to get a jump on deductions for next year by making a tax-deductible gift to charity. Through DonateTo.com (www.DonateTo.com), TurboTax users can donate money to over 600,000 nonprofit organizations worldwide, while learning more about crises, causes, communities and charities. Through Charitygift (www.charitygift.com), TurboTax users can donate to charity, or honor a friend or family member by sending a personalized Charitygift card that gives the recipient the chance to choose which charity receives the donation.

The Most Complete Tax Preparation and E-filing Solution
Once a user has finished preparing their return with TurboTax, they can quickly and easily file their return electronically. By electronically filing their returns, taxpayers can receive refunds in as little as 10 days. TurboTax users can also file their state tax return electronically with 38 states and the District of Columbia. Last tax season, TurboTax customers e-filed more than 5.8 million federal and state returns, accounting for more than 70% of federal returns e-filed by consumers via the IRS's online filing program.

Quicken TurboTax Home & Business: For the Self-Employed Taxpayer
Quicken TurboTax Home & Business is designed especially for the sole proprietor and contains the full version of TurboTax Deluxe plus additional features like the Depreciation Expert and Business Tax Library. TurboTax Home & Business provides everything the sole proprietor needs to prepare personal taxes and a Schedule C (business income). And this year, TurboTax Home & Business includes the Automated Tax Return as well as all of the new tools that help users take advantage of tax-saving advice and opportunities. TurboTax Home & Business handles the complete range of personal and business income tax situations for sole proprietors from the simplest to the most complex.

Quicken TurboTax for the Web
Quicken TurboTax for the Web is a powerful tool for taxpayers who want the convenience, speed and ease of use of the Internet for preparing and filing their individual tax returns. TurboTax for the Web has the same award-winning features and functionality as the TurboTax desktop product, from the easy-to-use interview to new features such as the Automated Tax Return. With TurboTax for the Web, users don't have to purchase or download software because they can prepare their return entirely online at any computer with Internet access. Plus, there is no charge to try TurboTax for the Web. Taxpayers are charged only when they are ready to print or electronically file their return. Last year, 1.4 million federal tax returns were prepared and filed using TurboTax for the Web.

All of the power and functionality of TurboTax, including the Automated Tax Return, are available for free to 44% of U.S. taxpayers with adjusted gross income of $25,000 or less through the Quicken Tax Freedom Project, Intuit's philanthropic initiative that donates free online tax preparation and electronic filing. This year, Intuit is expanding the Quicken Tax Freedom Project by raising the income eligibility by $5,000 over last year's $20,000 AGI cap. Eligibility is determined by the user's actual tax information entered into TurboTax for the Web. The free program applies to both state and federal individual income tax returns and is accessible from www.quicken.com/freedom.

Suggested Retail Pricing for Desktop Products
For tax year 2000, TurboTax Deluxe for Windows, which includes, via rebates, one free State Program and one free federal e-file is $29.95 after a $10 mail-in rebate. A stand-alone State product is $29.95. TurboTax for Windows is $14.95 after a $5 mail-in rebate. TurboTax Deluxe for Mac is $49.95. TurboTax Home & Business for Windows is $59.95 after a $10 mail-in rebate (includes one free State and one free e-file via rebates). TurboTax for Windows and Mac desktop products can also be purchased directly from Intuit at www.turbotax.com, by calling 800-335-1348 or writing to: Intuit Inc., Personal Order Department, 2650 Elvira Road, Suite 100, Tucson, AZ 85706.

Pricing for Web Products
TurboTax for the Web is $6.95 for federal 1040EZ returns filed by April 1, 2001, a savings of 30% off the $9.95 for those same returns filed after April 1, 2001. The corresponding state 1040EZ return is free. All other 1040 returns are $14.95 if filed before April 1, 2001 and $19.95 thereafter. Corresponding state returns are $9.95. Electronic filing for federal and state returns is included at no additional charge.

Product Availability
All TurboTax 1040 software products are available now on CD-ROM and include approved IRS tax forms, which can be filed electronically or by mail. TurboTax for the Web will be available in mid-January 2001 at www.turbotax.com.

About Quicken TurboTax
Quicken TurboTax is the #1-selling tax preparation software program, with approximately 70% retail unit share in 2000, according to PC Data. Its Web-based counterpart, Quicken TurboTax for the WebSM, is the #1-most popular site for online tax preparation and filing services. In addition, Intuit offers Quicken TurboTax Home & Business, designed for the sole proprietor. The Automated Tax Return feature is included at no additional charge in all of these versions of TurboTax. With 17 years of personal finance expertise, the TurboTax family of products saves time and money for more than 13 million Americans each year.