Intuit Inc. (Nasdaq: INTU), the global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, announced that Credit Karma members and QuickBooks Online customers “can prepare and file their 2023 taxes through TurboTax within the Credit Karma and QuickBooks Online product experiences.”
Combining Intuit’s AI-platform capabilities and the tax knowledge engine powering TurboTax with “a filer’s personal and financial data already present in Credit Karma or QuickBooks, these integrations create a more seamless and personalized tax preparation and filing experience for individual tax filers and small business owners.”
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.”
Filers can choose to “file their taxes themselves, with assistance along the way, or fully hand off their taxes for a virtual or in-person tax preparation experience and receive the same TurboTax maximum refund and accuracy guarantees no matter which Intuit product they choose to file from.”
Executive Vice President and General Manager of Intuit’s Consumer Group, Mark Notarainni said:
“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. 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 cost2, 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 early3 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 plan to begin building credit and saving money.”
Courtney Alev, General Manager of Tax at Credit Karma, said:
“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. 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.”