Intuit Assisting Vermont Taxpayers to Amend Returns

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MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Intuit Inc. (Nasdaq: INTU) is contacting some Vermont taxpayers who may have inadvertently underpaid their state income tax. The outreach effort, being done in conjunction with the state’s Department of Taxes, follows the discovery of an error in the company’s TurboTax® and ProSeries® software that caused some taxpayers and tax professionals to file an incorrect state tax return and underpay taxes owed.

“Our customers rely on us to deliver an accurate return and nothing is more important to us than making this right and building customer trust and confidence in Intuit,” said Bob Meighan, CPA and Intuit vice president. “We’re committed to reaching out to our customers and guiding them through the process and assisting the state in processing amended returns.”

The error affects those who filed returns with itemized deductions and was fixed as of April 1. Returns filed after that date are not affected. Intuit is identifying those affected and assisting them to amend and resubmit their state returns and pay any balance that may be due.

Vermont will not impose interest and penalties for taxpayers who amend their returns before July 1, 2016. Per Intuit’s TurboTax Accuracy Guarantee, the company will reimburse TurboTax customers for any penalties or interest the state does assess.

About Intuit

Intuit Inc. creates business and financial management solutions that simplify the business of life for small businesses, consumers and accounting professionals.

Its flagship products and services include QuickBooks® and TurboTax®, which make it easier to manage small businesses and tax preparation and filing. Mint.com provides a fresh, easy and intelligent way for people to manage their money, while ProSeries® and Lacerte® are Intuit's leading tax preparation offerings for professional accountants.

Founded in 1983, Intuit had revenue of $4.2 billion in its fiscal year 2015. The company has approximately 7,700 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 and the Intuit logo, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries.

Intuit Inc.
Julie Miller, 858-215-8469
Julie_miller@intuit.com

Source: Intuit Inc.

Released May 16, 2016