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IRS now Accepting E-filed Returns

SAN DIEGO--(BUSINESS WIRE)-- TurboTax®, the nation’s leading online tax preparation service from Intuit Inc. (Nasdaq:INTU), reminds taxpayers that the Internal Revenue Service begins accepting e-filed tax returns today, officially kicking off the tax season. Taxpayers can file now with TurboTax and get every dollar they deserve.

“Last year, more than 30 million people prepared their taxes with TurboTax, benefiting from a simple and highly personalized experience that helps them find and keep more of their hard-earned money,” said Greg Johnson, senior vice president of marketing for Intuit’s Consumer Tax Group. “With about 75 percent of all taxpayers getting a federal tax refund, which averaged close to $2,800 last year, there’s no reason to wait. With TurboTax you can prepare your tax return and e-file with direct deposit for your fastest possible refund.”

Do-it-yourself tax preparation is the fastest-growing tax preparation method, up 5 percent year-over-year, according to the IRS. The rise of DIY tax preparation is especially relevant to the 60 million Americans who have simple tax returns and can file them at absolutely no cost with TurboTax Absolute Zero.

Last year, TurboTax saw nearly 5 million taxpayers take advantage of the no-strings-attached offer, with the ability to easily and accurately file their federal 1040A or 1040EZ returns, as well as their state returns, for absolutely $0. TurboTax customers also do not pay extra to comply with health care laws or to claim their Earned Income Tax Credit.

TurboTax also continues to partner with IRS and state free file programs. TurboTax All FreeSM is now available to give millions of low to moderate-income families with adjusted gross income of $31,000 or less – and up to $62,000 for active duty military – or those eligible for Earned Income Tax Credit the opportunity to file for free.

According to the IRS, the fastest way for taxpayers to get their tax refund is through e-file and direct deposit. The IRS expects to issue more than nine out of 10 federal tax refunds in less than 21 days after acceptance. The deadline to file individual tax returns this year is April 18, except in Maine and Massachusetts, where the deadline is April 19.

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 Intuit Tax Online, 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 Inc.
Ashley McMahon, 858-215-9069
Ashley_mcmahon@intuit.com

Source: Intuit Inc.

Released January 19, 2016