Prepare, Click, Send: Tax Filing Season Kicks Off Today

TurboTax Press Releases

2010 Could Be Record Year as Taxpayers Enjoy Ease, Speed and Accuracy With Electronic Filing

SAN DIEGO – Jan. 15, 2010 – Tax filing season officially opens today as the Internal Revenue Service begins accepting electronically filed tax returns. If recent trends continue, 2010 will be a record year as more people use their home computers to prepare their tax returns and file them electronically.

Last year, U.S. taxpayers e-filed a record 95 million tax returns, about two-thirds of all individual federal returns filed. Consumer use of do-it-yourself tax software and online tax preparation Web sites, such as TurboTax®, from Intuit Inc. (Nasdaq: INTU), was up 20 percent last year, making tax software the fastest-growing tax preparation choice for U.S. taxpayers.

IRS data for the 2009 filing season also showed that:

  • 32 million tax returns were e-filed from home computers, up from 27 million the year before. Returns e-filed from consumer tax software account for more than a third of all e-filed returns.
  • The IRS issued 110 million refunds, averaging $2,753. Sixty-six percent of refunds are issued through direct deposit.
  • Taxpayers who e-file and use direct deposit get their refund in an average of eight days.

“Consumers want easy-to-use, inexpensive options when it comes to tax preparation. Almost 20 million TurboTax customers already know how easy it is to do their own taxes and get their biggest possible refund,” said Bob Meighan, CPA and vice president at TurboTax. “All TurboTax products include federal e-filing at no additional cost. Taxpayers receive confirmation that their returns have been received by the IRS. Plus data shows that e-filed returns are more accurate than returns prepared manually.”

About Intuit Inc.

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 processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit’s leading tax preparation offerings for professional accountants. The company’s financial institutions division, anchored by Digital Insight, provides on-demand banking services to help banks and credit unions serve businesses and consumers with innovative solutions.

Founded in 1983, Intuit had annual revenue of $3.2 billion in its fiscal year 2009. The company has approximately 7,800 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.

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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.  Other company and product names may be trademarks of their respective owners.

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