Intuit Inc., the technology company that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, has integrated TurboTax into Credit Karma and QuickBooks Online, allowing customers to prepare and file their 2023 taxes within those programs’ interfaces.
Intuit says that TurboTax delivers a suite of full service, assisted, and DIY tax preparation offerings for individuals, families, and small businesses to serve customers however they want to file and where they are most comfortable, including in Credit Karma and QuickBooks Online.
“Our vision is to deliver the trusted TurboTax experience to individuals and small businesses however they want to file and where they want to file, including across the Intuit ecosystem of products and services,” said Executive Vice President and General Manager of Intuit’s Consumer Group, Mark Notarainni. “The integration of TurboTax into Credit Karma and QuickBooks helps us meet our customers where they are so they can file with complete confidence knowing they are getting their best tax outcome, all in a familiar product experience.”
Credit Karma members who did not file with TurboTax last year and who choose to do their taxes themselves will be able to file their federal and state taxes in the Credit Karma app with TurboTax at no cost, and in some cases in as little as 10 minutes. For members who prefer additional assistance when filing their taxes, tax expert assistance is available at an additional cost. Eligible members will also have the option to get faster access to cash this tax season and receive recommendations on how to make the most of their refund.
Through the TurboTax integration, taxpayers can access their refund up to five days early when they deposit it into a Credit Karma Money account or, for those who qualify, get a Refund Advance loan in as little as 30 seconds after the IRS accepts their return. Members who choose to receive personalized guidance and are due a refund will receive recommendations about how to leverage their refund to make financial progress, such as opening a high-yield savings account with Credit Karma Money to start earning interest on their savings. Filers can also access other opportunities to make financial progress, like applying for a Credit Builder plan7 to begin building credit and saving money.
“Our members trust us to help them understand and manage their finances and we’re taking that one step further by helping them file their taxes and make a plan for their refund,” said Courtney Alev, General Manager of Tax at Credit Karma. “This year, we’re taking the stress out of tax filing by making it as easy as possible for our members to file their taxes with TurboTax on the Credit Karma app they already know and love. We’re also giving members faster access to their refund, as well as recommendations for how to put their refund to work, so they can take action and start making financial progress.”
Maximizing tax deductions is a priority for small businesses, as nearly a third (32%) of small businesses created since 2020 were funded in part by tax refunds, according to a recent QuickBooks report. At the same time, being compliant is also among small business owners’ top concerns. Now, qualifying QuickBooks Online customers who file their taxes with TurboTax through QuickBooks Live Tax will save time and effort by seamlessly moving from books to taxes and gain access to unlimited expert help to get their maximum refund, guaranteed.
“Preparing and filing taxes can be time consuming and research intensive for small business owners, taking away from what they’re passionate about,” said Vice President of Product Management for the Business Tax Ecosystem at Intuit, Matt Lisowski. “We’re offering small businesses peace of mind by providing tax experts to prepare and file taxes with the best outcome guaranteed, along with year-round guidance from accounting experts to maximize their daily business moves all from within QuickBooks.”
This tax season, QuickBooks Online offers the following tax options for small businesses:
- QuickBooks Live Full-Service Tax – S-Corps, multi-member LLCs, and partnerships can fully hand off their business taxes to a team of experts who will help them get ready for tax time and file their taxes, accuracy guaranteed.
- QuickBooks Live Assisted Tax – Sole proprietors and single-member LLCs filing a Schedule C (Form 1040) can get their self-employment taxes done right with unlimited expert advice.
With QuickBooks Live Tax, specialized experts from TurboTax can deliver unlimited, on-demand guidance, answer questions, and provide support in case of an audit. The tax experts can also help uncover tax deductions to minimize tax burdens. QuickBooks Live Tax costs vary by entity and service type and start at $169, with payment required when tax returns are filed. Small businesses can find their cost and sign up by logging into their QuickBooks Online account, tapping “Taxes” in the left navigation panel, and selecting “Year-End Tax Filing.”
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Tags: Taxes
