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population, though each tax preparation company has some flexibility with how to decide who is eligible for their version of the free product.įor example, between 20, Intuit offered its IRS Free File product, which it called the TurboTax “Freedom Edition,” to consumers with adjusted gross incomes that ranged between $33,000 or less in 2017 to $39,000 or less for returns filed in 2021. The IRS Free File Program is meant to cover consumers with an adjusted gross income that’s equal to or less than 70 percent of the U.S. In exchange, the IRS agreed not to compete with those companies by offering its own online tax preparation service for free.
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The agreement explains that the IRS Free File Program is a public-private partnership between the IRS and a group of tax preparation software companies, which used to include Intuit, through which the companies offer free tax preparation products to low- and middle-income taxpayers and members of the military. If you’re confused about the difference between the IRS Free File Program and TurboTax’s Free Edition product, you’re not the only one.Īccording to Intuit’s agreement with the attorneys general, the company intentionally failed to clarify the difference between the two products because high participation in the IRS program would “dent its bottom line.”
Sign up for ’s free weekly newsletter here. The people covered by the agreement include individuals who, during tax years 2016, 2017 or 2018, were eligible to use Intuit’s IRS Free File product, began filing their tax returns through the TurboTax Free Edition product, were informed that they were ineligible to use the TurboTax Free Edition product, subsequently upgraded to a paid TurboTax product, and had not used the Intuit IRS Free File product in a previous tax year.Īccording to a May 4 press release by the New York Office of the Attorney General, payments to those covered by the settlement are estimated to be about $30 for each year the individual was tricked into paying for tax filing services.ĭon’t miss out on settlement news like this. Will I get money from the TurboTax agreement? Though this wasn’t a class action lawsuit-more on this below-keep reading to find out what you need to know about the settlement and whether you’re one of the millions of taxpayers who will receive a check. Intuit’s agreement with the attorneys general will provide direct payments of roughly $30 to nearly 4.4 million consumers for each year that they were told they had to pay for TurboTax’s services even though they were eligible to file their taxes for free.
Turbotax refund for free#
has agreed with the attorneys general of all 50 states to pay $141 million in restitution for allegedly tricking millions of taxpayers into paying to file their taxes when they were eligible to do so for free.Īccording to the May 4 agreement, Intuit offered during tax years 2016 through 2018 two free TurboTax online filing products-one through its participation in the IRS Free File Program that is meant to cover 70 percent of taxpayers, and the company’s own product, called “TurboTax Free Edition,” that is only free for people who have “simple” tax returns.Īn investigation led by the New York Office of the Attorney General found that Intuit had essentially steered taxpayers who were eligible for the IRS Free File Program into using the TurboTax Free Edition product instead, only to be told after they’d already started filing their taxes that they were ineligible to do so for free and had to switch over to a paid TurboTax product.
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Download Black by ClearTax App to file returns from your mobile phone.You may have heard on the news that TurboTax owner Intuit, Inc. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Clear can also help you in getting your business registered for Goods & Services Tax Law. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.ĬAs, experts and businesses can get GST ready with Clear GST software & certification course.
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