Is TurboTax Trying to Stop Simple, Free Tax Filing?

Intuit accuses government of minimizing the taxpayers' voice and maximizing revenue

   

Is TurboTax Trying to Stop Simple, Free Tax Filing?

TurboTax developer Intuit (INTU) is getting a lot of heat due to the company’s supposed “grassroots” campaign against return-free filing.

TurboTax 300x257 Is TurboTax Trying to Stop Simple, Free Tax Filing?ProPublica — a non-profit investigative journalism group — claims that the company opposes IRS government tax preparation. In response, Intuit expressed its support for the free tax filing program Free File.

The company claims to have donated more than 22 million federal and state tax returns to low and middle-income taxpayers thanks to TurboTax. However, Intuit made it clear that it does not support the government’s return-free model.

The model “minimizes the taxpayers’ voice and instead maximizes revenue collection for government,” according to an Intuit spokesperson. “That kind of anti-consumer policy does not advance taxpayer rights, citizen empowerment or real simplification of the tax code.”

INTU stock is up about 0.4% Tuesday.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/04/turbotax-free-tax-filing-intu-stock/.

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