Three major breakthroughs in online tax preparation and filing from Intuit Inc. (Nasdaq: INTU) look to change the face of tax preparation for millions of Americans.
In addition to introducing a new, free online option that will save hours for people who have traditionally used a pencil and paper, and launching a new Web site that delivers great deals geared toward younger tax filers, Intuit has made revolutionary changes to its flagship TurboTax® for the WebSM service.
Taxes Done in Minutes, for Free
SnapTax (www.snaptax.com), a breakthrough tax preparation service designed especially for paper and pencil filers with simple returns, slashes the time it takes to complete a federal tax return to less than 30 minutes. And it's free to prepare and print. The average taxpayer will save more than two hours in tax preparation time compared to doing taxes by hand and save up to $120 compared to storefront tax offices.
Available later this month, SnapTax uses familiar, easy-to-read forms online, so there is nothing new to learn. SnapTax customers will see the math being done for them and can get line-by-line help in simple English. Customers can prepare and print federal form 1040EZ and most 1040As for free. Optionally, users can choose to pay $5.95 to electronically file their return to get their refund back fast - in as little as 10 days with direct deposit, compared to up to six weeks for returns sent by mail.
$50 Off PCs, Up to $200 Off Travel and More
Intuit's second breakthrough is www.ttrefund.com, a new Web site launching later this month. Designed specifically for young tax filers between the ages of 18 and 24, the Web site offers great discounts plus a simple way to get a refund back fast. Taxpayers can pay as little as $5.95 to use the TurboTax for the Web EZ service, which includes e-filing, and get $50 off a personal computer and 10 percent discounts on digital cameras, wireless phones and other select electronics from Best Buy. Or, they can get up to $200 off travel to favorite spring break hot spots or other destinations. At www.ttrefund.com, customers can quickly and easily prepare their taxes online and then print a discount coupon that is immediately redeemable online or at Best Buy stores.
Revolutionary Ease, with the Familiarity of Popular Web Sites
The TurboTax for the Web service (www.turbotax.com), available today for tax year 2004, combines drop-dead simplicity with a completely new, fresh look that is more like popular Web sites, such as Amazon.com or Yahoo!, that customers use everyday, so it's more familiar and even easier to use.
The most-used screens in TurboTax for the Web have been redesigned and rewritten by a team of writers and tax experts led by a former editor of People magazine. They have replaced tax jargon with plain spoken, simple English so customers are confident they have answered every question accurately. Instead of asking customers if they have "Government Payments", TurboTax for the Web uses simple, common terms and asks, "Did you receive a State Tax Refund?"
New this year, TurboTax for the Web includes a "Custom to You" option that automatically customizes the product to the user's unique tax situation, eliminating unnecessary screens so customers can focus on those areas that are most important and relevant to them.
And TurboTax for the Web no longer requires a user name and password to get started. Taxpayers can easily try it and see just how easy it is, with no time wasted up front. They only need to register when they're ready to save their return.
