Intuit Inc. (NASDAQ: INTU), the leader in e-finance, today announced that it will once again provide free online tax preparation and filing services to taxpayers with annual adjusted gross income of $25,000 or less through it's philanthropic initiative, the Quicken Tax Freedom Project. The free program uses Intuit's Quicken© TurboTax© for the WebSM service, also announced today, which enables taxpayers to easily and quickly prepare and electronically file their federal and state tax returns via the Internet at www.quicken.com/freedom.
The Quicken Tax Freedom Project was recently awarded the 2000 Council of State Governments' Public/Private Partnership Award. The prestigious award recognizes the program's support of state revenue departments' goals of increasing electronic filing and Intuit's commitment to assisting citizens in bridging the 'Digital Divide.'
This year, Intuit has expanded the Quicken Tax Freedom Project by raising the income eligibility by $5,000 over last year. According to IRS statistics, about 56 million U.S. taxpayers are now eligible for the free program. Last year, Intuit donated more than 764,000 federal and more than 375,000 state tax returns through the Quicken Tax Freedom Project.
"The Quicken Tax Freedom Project is part of our continuing efforts to bridge the 'digital divide' and deliver the benefits of the Internet to those who need it most," said Steve Bennett, president and chief executive officer of Intuit. "Through this public/private partnership, the Quicken Tax Freedom Project offers a valuable service to lower income Americans, people just starting their careers, students and the elderly."
Easy and Accessible Tax Preparation
The free online tax preparation and filing service can be accessed from any computer with Internet access. The growing acceptance of the Internet, combined with increased accessibility through a variety of public locations, has made preparing and filing taxes electronically a fast, convenient option for more and more Americans. Taxpayers without a computer can access TurboTax for the Web from computers at their local public library, school or community center. The American Library Association reports that nearly 75% of public libraries now offer their patrons free Internet access.
TurboTax for the Web is easy to use and requires no special tax expertise. Using a simple interview method, TurboTax walks taxpayers through their tax return step-by-step and automatically calculates the correct tax, reducing arithmetic and other errors and automatically identifying deductions for which the taxpayer qualifies. Eligibility is determined by users' actual tax information as entered into TurboTax for the Web.
Faster Refunds
Preparing and filing taxes online is fast, convenient and easy. Once a taxpayer has finished preparing their return, they can quickly and easily file their return electronically. By electronically filing their returns, taxpayers can receive refunds in as little as 10 days, compared to six weeks for returns filed by mail. Taxpayers can also prepare and electronically file their state tax returns electronically with 38 states and the District of Columbia.
"The Quicken Tax Freedom Project is a great program and saved me at least $100," said Vivian Fiedler of Farwell, Mich., who used the program to prepare and file her federal and state taxes last year. "That extra money could be used for important things, like buying food and clothes for my son. I'm glad to see that the program has been expanded to reach even more taxpayers this year."
