TurboTax-parent company Intuit said on Wednesday it will let go of about 1,800 employees, or 10 per cent of its workforce, as it looks to focus on its AI-powered tax preparation software and other financial products. The company, which has invested heavily in providing generative AI-powered accounting and tax preparation tools for small and medium … Read more
Sen. Elizabeth Warren (D-Mass.) criticized TurboTax on Monday for charging taxpayers for relatively simple tax returns and repeatedly upselling them during the filing process. Ahead of Monday night’s tax deadline, Warren pointed to an example of a sample taxpayer with a “simple filing situation” who would qualify for the IRS’s new Direct File tool, which … Read more
The Federal Trade Commission (FTC) ruled on Monday that the maker of TurboTax is deceiving customers when it claims a version its online tax filing software is free, when most customers would have to pay for it. The FTC’s opinion states that Intuit’s TurboTax Free Edition, marketed as a stripped-down version of its paid software … Read more
