Intuit, parent company of TurboTax, quits IRS free files program

Intuit, the parent company of TurboTax tax filing software, is quitting an IRS program that allows many Americans to file their taxes for free. IRS partners with Free files alliance, a non-profit tax software coalition companies who offer free tax filing services for the Free File program. Intuit said in a blog post on his website that part of the reason he is leaving Free File – which is available for 2020 filers with adjusted gross income of $ 72,000 or less – are the “constraints” of the program.

“The Free File program exceeding its founding goals of electronic filing and free tax preparation, and due to the limitations of the Free File program and conflicting demands from those outside the program, we are unable to pursue benefits that can help consumers make more money, save more and invest for the future, ”according to the blog.

Readers may recall that a series of reports by ProPublica found that Intuit and H&R Block misled tax filers into making them pay to file their taxes. Companies kept free versions of their software for appear in search engine results, according to ProPublica, which makes them harder to find online. IRS later redesigned free file program, removing a provision from the agreement that prohibited the agency from creating its own online filing system that would compete with software vendors’ products.

Intuit’s blog post says the company will exit the Free File program at the end of tax season in October because it wants to “provide more financial benefits and enable Americans of all income levels to take control of their finances “.

Intuit closed the acquisition of credit rating monitoring firm Credit Karma for $ 7.1 billion in December 2020. The deal drew the attention of the Justice Department, which was concerned about possible issues. antitrust; Credit Karma started to offer its own version of free tax return in 2017.

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