Intuit Announces Expanded Security Features in TurboTax

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Supports Joint Government, Industry Security Education Campaign

SAN DIEGO--(BUSINESS WIRE)-- Intuit Inc., (Nasdaq:INTU) today announced the addition of new security features in TurboTax, reflecting the continued role it is playing in support of industry and government’s collaborative efforts to fight fraud and protect taxpayer information.

The announcement is part of a joint consumer education and awareness campaign being launched by the Internal Revenue Service, state revenue agencies and the tax preparation industry to help consumers understand how they can protect their identities online and reduce the risk of becoming victims of tax fraud.

The cooperative effort between government and industry has resulted in new ways to further authenticate taxpayers’ identities. Additional requirements for information sharing and reporting will further strengthen the tax system and give taxpayers greater confidence when they file returns.

“Security is central to everything we do,” said Sasan Goodarzi, executive vice president and general manager of Intuit’s Consumer Tax Group. “We value the trust our customers place in us and are committed to providing them a safe and secure experience. That’s why we never stop working to improve and strengthen how we protect their information.”

TurboTax Security Enhancements

Reflecting its efforts over the past few years, for tax year 2015, TurboTax has implemented enhanced security measures to further strengthen customer identity authentication and notification.

Authentication: When customers create or access their account, TurboTax has implemented additional security features to authenticate their identity. Enhancements include:

  • Expanded multi-factor authentication: New this year, TurboTax Online customers have the option to set up their account to require multi-factor authentication every time they log in. This expands the existing multi-factor authentication that was enabled for all TurboTax Online and mobile accounts earlier this year to help authenticate user identities and let customers securely sign into their account. When customers access their online account, TurboTax will automatically send a unique, six-digit code to their pre-designated, trusted device to be used in combination with their password to access their account.
  • Touch ID: Customers with iOS devices can now use Touch ID to link their unique fingerprint to their TurboTax Online account authentication for added security.
  • Soft token technology: Customers can install a soft token application on their mobile device that will deliver a randomly generated, six-digit number that is needed to access their TurboTax account. The number, which changes periodically and can only be used once, provides an additional security option.

Ongoing Notification: Intuit’s new Security Center lets TurboTax customers manage their online account. In addition, TurboTax will notify customers when certain changes are made to their account. Enhancements include:

  • Login and device history: Customers can see all of the login activity and devices used to access their account, giving them real-time insight.
  • Real Time Notifications: TurboTax sends customers a notification whenever certain changes are made to their account, such as signing in for the first time on a new device, updating a payment method or changing a password.

“TurboTax works hard to safeguard your information so you can file with confidence,” added Goodarzi.

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

Source: Intuit Inc.

Released November 19, 2015