Intuit Inc. (Nasdaq: INTU) responded today to a decision of the U.S.
District Court for the District of Columbia that prevents the Internal
Revenue Service from regulating non-professional tax return preparers.
The ruling, issued Jan. 18, could affect up to 700,000 tax return
preparers who won't have to obtain credentials, ranging from independent
preparers to employees at national storefronts, such as H&R Block.
The following statement can be attributed to Dan Maurer, senior vice
president and general manager of Intuit's Consumer Tax Group:
"Intuit supports efforts to strengthen and enhance the tax preparation
services industry and is disappointed in the court decision regarding
IRS industry oversight. The public interest is best served when all
competing tax service providers meet high standards. Intuit testified in
support of the IRS effort at the public hearing IRS conducted in Chicago
in September 2010.
"For almost 30 years, Intuit's TurboTax® has been dedicated to
delighting customers through innovation, quality and ease of use,
putting the power in peoples' hands to help them keep more of their
hard-earned money. All TurboTax tax experts are highly qualified
certified public accounts, IRS enrolled agents and tax attorneys. That's
why more Americans trusted their federal taxes to TurboTax last year
than H&R Block stores and all other major tax stores combined.
"We believe the drive toward raising overall tax industry standards must
and will continue and the recent court decision is not the end of this
important national journey. In the meantime, we will continue to comply,
as we always have, with return preparer requirements and other
regulations issued by IRS as they apply to Intuit's tax products and
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®
and TurboTax®, 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 their money.
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 www.intuit.com.
Intuit, the Intuit logo and TurboTax, among others, are registered
trademarks and/or registered service marks of Intuit Inc. in the United
States and other countries.
Julie Miller, 858-215-8469 (Media)
Matt Rhodes, 650-944-2536 (Investors)