Intuit
Intuit, inc. is a financial software company based out of Mountain View, California under current CEO Sasan Goodarzi.[1][2] The company contains a variety of products and services such as: tax preparation with TurboTax, personal credit monitoring through Credit Karma, commercial accounting under Quickbooks, and MailChimp for email marketing.[3] Founded in 1983, 42 years ago, the company grew rapidly into a financial giant with US$16.3 billion of revenue in 2024 alone.[4][5]
| Basic information | |
|---|---|
| Founded | 1983 |
| Legal structure | Public |
| Industry | Financial Services |
| Official website | intuit.com |
Controversies
Misleading Consumers
Intuit offered "TurboTax Free Edition" which concluded in not being free for most consumers. Intuit, among other tax software companies, spent millions of dollars lobbying against the Internal Revenue Service (IRS) creating their own tax preparation and filing software, eventually succeeding and making it illegal for the IRS to create its own tax filing system.[6][7] Afterwards, the IRS agreed to allow tax companies to offer a "Free File" product instead. An investigation led by non-profit investigative journal ProPublica elucidated the advertising malpractice by Intuit, including: search engine delisting, advertising the "Free Edition" product only, and offering deceptive discounts to military members. [8][9]
Lobbying Against Consumer Interests
Intuit has spent US$25.6 million dollars in lobbying since 2006. Their most influential lobbying endeavor was colluded together with various companies in a group called the "Free File Alliance", in efforts to stop the IRS from developing their own tax preparation solution.[10]
- ↑ "Intuit Careers". Intuit.com. Archived from the original on 27 July 2025. Retrieved 11 Aug 2025.
{{cite web}}:|archive-date=/|archive-url=timestamp mismatch; 10 July 2025 suggested (help) - ↑ "Intuit Executives". Intuit.com. Archived from the original on 27 July 2025. Retrieved 11 Aug 2025.
- ↑ "Intuit Homepage". Intuit.com. Archived from the original on 30 July 2025. Retrieved 11 Aug 2025.
{{cite web}}:|archive-date=/|archive-url=timestamp mismatch; 29 July 2025 suggested (help) - ↑ "Intuit Origins". Intuit.com. Archived from the original on 22 Apr 2025. Retrieved 11 Aug 2025.
- ↑ "UNITED STATES SECURITIES AND EXCHANGE COMMISSION". sec.gov. Retrieved 11 Aug 2025.
{{cite web}}: CS1 maint: url-status (link) - ↑ Popken, Ben (March 23, 2017). "TurboTax, H&R Block Spend Big Bucks Lobbying for Us to Keep Doing Our Own Taxes". NBC News. Archived from the original on 04 July 2025. Retrieved 11 Aug 2025.
{{cite news}}: Check date values in:|archive-date=(help) - ↑ Elliot, Justin (April 9, 2019). "Congress Is About to Ban the Government From Offering Free Online Tax Filing. Thank TurboTax". ProPublica. Archived from the original on 27 July 2025. Retrieved 11 Aug 2025.
- ↑ Elliot, Justin (April 26, 2019). "TurboTax Deliberately Hid Its Free File Page From Search Engines". ProPublica. Archived from the original on 27 July 2025. Retrieved 11 Aug 2025.
- ↑ Elliot, Justin (May 23, 2019). "TurboTax Uses A "Military Discount" to Trick Troops Into Paying to File Their Taxes". ProPublica. Archived from the original on 26 June 2025. Retrieved 11 Aug 2025.
- ↑ "Taxpayer advocates want the IRS to offer a free electronic tax-filing system. Intuit and H&R Block have spent millions lobbying against it". Fortune. Archived from the original on 17 July 2025. Retrieved 11 Aug 2025.