TurboTax
Prepare and file federal and state income tax returns with confidence.
Executive Summary
TurboTax by Intuit is a leading tax preparation software designed to help individuals and small businesses prepare and file their federal and state income tax returns. It offers a range of editions, including online and desktop versions, to cater to varying tax complexities, from simple Form 1040 filers to self-employed individuals and small businesses with diverse income sources like rental properties, stocks, or cryptocurrency. The software provides step-by-step guidance to navigate the tax filing process, helping users identify eligible deductions and credits to maximize their refunds or minimize their tax liability. TurboTax offers different levels of support, from 'Do It Yourself' options to 'Expert Assist' for those seeking professional guidance from tax experts. It aims to simplify the often-complex task of tax filing through a user-friendly interface, accurate calculations, and features like audit defense and comprehensive state return preparation. The platform is continuously updated to reflect the latest tax laws and regulations, ensuring compliance and accuracy for its users.
Use Cases
- Filing simple federal and state income tax returns (Form 1040).
- Preparing taxes for self-employment income and small businesses.
- Managing taxes for rental property income, stocks, bonds, and cryptocurrency.
- Maximizing deductions and credits to optimize tax outcomes.
- Receiving expert assistance for complex tax situations.
Features
Visibility
- Step-by-Step Guidance: Walks users through the entire tax preparation process with clear instructions and explanations.
- Real-time Refund/Amount Due Tracker: Displays the estimated refund or amount owed as users input their information.
- Tax Form Preview: Allows users to view and review their tax forms before filing.
Intelligence
- SmartLook/Expert Assist: Connects users with tax experts on-demand for personalized advice and review of their tax return.
- Deduction Maximizer: Intelligently identifies and suggests eligible deductions and credits based on user data to optimize tax outcomes.
- Audit Risk Assessment: Provides insights into potential audit triggers and offers guidance for preparedness.
Support
- Live Tax Advice: Access to credentialed tax experts for personalized advice and answers to tax questions.
- Audit Defense: Provides assistance and representation in case of an IRS audit.
- Knowledge Base & FAQs: Offers an extensive online knowledge base, articles, and frequently asked questions for self-service support.
Technical Specifications
- Deployment
- SaaS, On-Premise
- API Available
- No
Pricing
- Model
- Tiered pricing based on tax complexity and features
- Starting Price
- $0 (for simple federal and state returns)
- Target Customer
- SMB
- Contract Type
- Annual (per tax year)
- Free Trial
- No
About intuit
Intuit is a global technology platform that helps consumers, small businesses, and self-employed individuals overcome their most important financial challenges. It offers cloud-based products like TurboTax, Credit Karma, QuickBooks, and Mailchimp, increasingly leveraging AI and automation to power prosperity worldwide.