Despite a later than expected start to the 2013 tax filing season,
taxpayers shouldn't delay and can prepare and file their tax returns now
with TurboTax. The vast majority of tax filers, including those paying
the Alternative Minimum Tax, can prepare and file now and be first in
line to get their refunds when the IRS begins processing returns on Jan.
TurboTax®, the nation's No.1 rated best-selling tax
software from Intuit Inc. (Nasdaq: INTU), is up to date with recent
tax law changes so taxpayers can begin preparing
their tax returns now. TurboTax will hold returns and once the IRS
begins accepting e-filed returns on Jan. 30, will securely submit
federal tax returns on a first-in, first-out basis.
"The federal tax refund is the most important financial moment of the
year for many families. We know how much people depend on their tax
refunds to pay bills and living expenses," said Bob Meighan, CPA and
vice president of TurboTax. "The most important thing people can do is
prepare and file now so they're first in line for their tax refund."
About 40 percent of American households live paycheck-to-paycheck. In
2012, the average tax refund was $2,700, equaling more than a month's
worth of income for two-thirds of taxpayers or over three months of
groceries for the average family of four. It is the primary reason that
taxpayers file returns by mid-February.
"The IRS does not anticipate any associated tax refund delays once
processing begins on Jan. 30," added Meighan. "For the fastest refund
possible, taxpayers should use e-file
and direct deposit."
The IRS expects to issue more than 9 out of 10 refunds in less than 21
days. The IRS will not process paper returns before Jan. 30.
Taxpayers claiming residential energy
tax credits, depreciation of property or general business credits
will be not be able to start filing in late February or early March
because of the need for more extensive form and processing systems
Taxpayers wondering how recent tax law changes may impact their taxes
can contact TurboTax tax experts, who are available year round to answer
taxpayer questions, free. Only TurboTax lets taxpayers talk by phone
or chat to certified public accountants, Internal Revenue Service
enrolled agents or tax attorneys as often as they like while they're
preparing their tax return, free.
TurboTax is the nation's No. 1 rated, best-selling, do-it-yourself tax
preparation software. Available on desktop, online and mobile,
TurboTax helped more than 25 million people last year keep more of their
hard-earned money. For more information, visit the TurboTax
press room, like us on Facebook at www.facebook.com/turbotax,
follow us on Twitter at twitter.com/turbotax,
or visit our blog, Tax Break: The TurboTax Blog, at blog.turbotax.intuit.com/.
Intuit Inc. is a leading
provider of business and financial management solutions for small and
mid-sized businesses; financial institutions, including banks and credit
unions; consumers and accounting professionals. Its flagship products
and services, including QuickBooks®, Quicken®
simplify small business
management and payroll
finance, and tax
preparation and filing. ProSeries®
and Lacerte® are
Intuit's leading tax preparation offerings for professional accountants. Intuit
Financial Services helps banks and credit unions grow by
providing on-demand solutions and services that make it easier for
consumers and businesses to manage
Founded in 1983, Intuit had annual revenue of $4.15 billion in its
fiscal year 2012. The company has approximately 8,500 employees with
major offices in the United
States, Canada, the United
Kingdom, India and
other locations. More information can be found at http://www.intuit.com.
Intuit and the TurboTax logo, among others, are registered trademarks
and/or registered service marks of Intuit Inc. in the United States and
other countries. Live tax advice is a free service available year round
via phone or live chat. Restrictions apply. Experience levels, hours of
operation and availability vary and are subject to change without
notice. See http://www.turbotax.com for
Ashley McMahon, 858-215-9069
Melika Mizany, 415-345-4779