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Intuit Inc. Message Board

  • mauricethepantsman mauricethepantsman Apr 12, 2001 10:30 AM Flag

    INTU news - TURBO TAX on WEB

    Here's some news. The numbers are good but . . . not great.

    Thursday April 12, 10:26 am Eastern Time
    Press Release
    TurboTax for the Web Tops 2 Million Returns
    Tax Procrastinators Will Turn to the Web in Record Numbers
    SAN DIEGO--(BUSINESS WIRE)--April 12, 2001--With the busiest weekend of the tax filing season still ahead, Intuit Inc. (NASDAQ: INTU - news), announced that its Quicken� TurboTax� for the Web(SM) service today filed its two-millionth federal income tax return. This milestone sets a new record for most returns filed via TurboTax for the Web, topping last season's 1.4 million federal returns.

    With 20 percent of taxpayers waiting until the last two weeks to do their taxes, according to IRS statistics, TurboTax for the Web has seen a steady rise in the number of customers as the April 16 deadline approaches and taxpayers look for the fastest and easiest way to complete and file their tax return.

    Those taxpayers used to delivering their paper return to the post office before midnight on deadline day can now prepare and electronically file their tax return by 11:59 p.m. local time via TurboTax for the Web and get a digital date stamp that is proof their return was submitted on time.

    ``Consumers have embraced TurboTax for the Web in record numbers because it offers the fastest and most convenient way to complete their return,'' said Bob Meighan, vice president of the Intuit's consumer tax division. ``Taxpayers don't need to stand in long lines at the post office. Instead, they can use TurboTax for the Web to beat the filing deadline and save themselves the time and aggravation they may be accustomed to this time of the year.''

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    • What? Those numbers are great! They've doubled the amount of returns filed on the web in one year. This, plus, the busiest weekend for them is coming up starting tomorrow.

      I like it...maybe tax will save us again!!

      Go Longs!

      • 1 Reply to readldeal
      • Yeah they're great alright! That's why you're seeing INTU go down.

        When they released that only 1% of their users would be affected by the security problem (i.e. 150,000 users) the number looked REAL big.

        I think people need to take the emotions out of their investment practices, and deal with the numbers (real or perceived).

        The 2 million number is roughly equal to an increase of 600,000 over last year's number, which isn't a number that's going to boll you over.

        I don't like the feel of the water yet. It feels pretty cold to me. I think that I'll wait a little longer before I dive in.

 
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