Intuit Stock Price, News & Analysis

Intuit (NASDAQ: INTU) has announced its agreement to acquire GoCo, a provider of HR and benefits solutions for small and mid-market businesses. The integration will enhance Intuit's Enterprise Suite and QuickBooks Payroll services, creating a comprehensive Human Capital Management (HCM) solution.

GoCo's features will be initially integrated into Intuit Enterprise Suite and QuickBooks Payroll for Premium or Elite Payroll customers in the U.S. The combined platform will offer businesses a unified solution for managing finances, customers, and employee lifecycle from onboarding to offboarding.

Founded in 2015, GoCo provides hiring, onboarding, workforce management, and benefits administration services. The acquisition will complement Intuit's AI capabilities and data infrastructure, enhancing HR team productivity. The deal is set to close in Q4 FY25, with financial terms undisclosed.

Intuit (NASDAQ: INTU) has announced a new collaboration with Google Cloud to enhance tax preparation for TurboTax customers. The partnership integrates Google Cloud's Doc AI and Gemini models to expand done-for-you autofill capabilities for the ten most common U.S. tax forms, including complex 1099 and 1040 forms.

In tax year 2023, TurboTax processed 44 million U.S. tax returns and $107 billion in tax refunds using Intuit's Generative AI Operating System (GenOS). The system combines Intuit's data, custom-trained financial large language models, and tax knowledge engine with best-in-class LLMs.

The enhanced automation particularly benefits investors in stocks, bonds, and crypto by automating data extraction from complicated 1099 forms, eliminating the need for manual data entry across multiple screens and fields. The integration aims to improve accuracy and efficiency in tax preparation through advanced AI-driven document understanding.

TurboTax highlights key tax deductions and credits ahead of the April 15, 2025 filing deadline. A Harris QuestDIY survey reveals significant deadline awareness gaps, with over 50% of 18-24 year olds unaware of the due date.

Notable credits include:

• Earned Income Tax Credit up to $7,830 for families with 3 kids
• Child Tax Credit up to $2,000
• Child and Dependent Care Credit up to $2,100 for multiple children
• American Opportunity Tax Credit up to $2,500 for college education
• Energy Efficient Improvements credits up to $1,200 for home upgrades

The Standard Deduction has been inflation-adjusted to $14,600 for single filers, $29,200 for joint filers, and $21,900 for head of household.

Intuit (NASDAQ: INTU) has launched the Small Business Growth Council in the UK, a new initiative aimed at empowering small businesses through AI and digital adoption. The Council, comprising 18 digitally-connected businesses, will focus on shaping policies for innovation and economic growth.

Research indicates that digitally connected businesses are 2.4 times more likely to report higher productivity and 2.3 times more likely to see increased revenue. However, over 25% of UK small businesses still don't use basic digital tools. The potential impact is significant - if the UK's 1.1 million micro businesses doubled their AI technology uptake, it could unlock a £16.6 billion productivity boost.

The Council will focus on three core areas: driving digital adoption, simplifying business administration, and democratizing access to AI. The initiative builds on the success of Intuit's US Small Business Council, which helped introduce the Small Business Technological Innovation Act (S.305).

Intuit (NASDAQ: INTU) has launched its second annual Hour of Finance Challenge, a national initiative for middle and high school students during Financial Literacy Month in April. The program features Intuit Prosperity Quest, an interactive online game teaching financial literacy through real-world scenarios.

The challenge kickoff aligns with Intuit's Financial Literacy Forum event at Intuit Dome in Los Angeles on April 1, featuring recording artist Saweetie and former NBA player Lou Williams. The initiative is part of Intuit for Education, a program that has reached over two million students with free personal and entrepreneurial finance courses powered by TurboTax, Credit Karma, QuickBooks, and Mailchimp.

According to Intuit's 2025 Prosperity Index Study, among Gen Z and Millennials: 60% prioritize quality of life over savings, 62% prefer work-life balance over higher earnings, 68% pursue additional education for career advancement, and 43% identify as cautious savers focusing on security over risk.

Intuit's TurboTax urges taxpayers to file their returns ahead of the April 15, 2025 deadline, highlighting significant refund potential. According to IRS filing statistics for the week ending March 7, 2025, tax refunds are up 5.7% compared to last year, with an average refund amount of $3,324.

Despite concerns about IRS layoffs and pending tax proposals, the company emphasizes these factors won't affect 2024 tax filings. TurboTax offers both self-filing options and access to thousands of TurboTax Live experts who can complete returns virtually or in-person. Returning TurboTax Full Service customers have the option to work with their previous year's tax expert.

Intuit (NASDAQ: INTU) has announced the launch of Tap to Pay on iPhone for QuickBooks Online customers in the U.S., enabling businesses to accept contactless payments using only an iPhone. This new feature eliminates the need for additional card readers or POS hardware.

The service integrates directly with QuickBooks Online accounts, allowing automatic synchronization and reconciliation of payments. According to Intuit QuickBooks Quarterly Small Business Insights, nearly half of U.S. small businesses report cash flow challenges.

Key features include:

• Seamless in-person payment processing through QuickBooks mobile or GoPayment apps
• Acceptance of contactless cards, Apple Pay, and other digital wallets
• Lower processing fees compared to keyed-in payments
• Enhanced security through iPhone's built-in features
• Expanded invoicing capabilities with instant payment options

Intuit (NASDAQ: INTU) has announced the expansion of its free financial literacy program, Intuit for Education, to colleges and universities nationwide. The initiative aims to empower 50 million students with financial literacy by 2030.

The program addresses a critical need, as over 70% of students experience financial stress in college, with more than half considering dropping out due to financial concerns. The expanded program includes:

• First Year Experience programs and financial wellness initiatives
• QuickBooks Online Curriculum for business education
• NIL Tax Empowerment Workshops for student-athletes
• Over 150 hours of customizable curriculum

The comprehensive program leverages Intuit's products (TurboTax, QuickBooks, Credit Karma, and Mailchimp) to provide interactive lessons and simulations on budgeting, saving, managing credit, and basic finances. The TurboTax tax empowerment program has already reached over 100,000 student-athletes with tax education and resources.

Intuit (Nasdaq: INTU), the global financial technology platform behind TurboTax, Credit Karma, QuickBooks, and Mailchimp, has announced that CFO Sandeep Aujla will participate in the Morgan Stanley Technology, Media & Telecom Conference.

The fireside chat is scheduled for March 4, 2025, at 1:05 p.m. Pacific Time (4:05 p.m. Eastern Time). Investors and interested parties can access the live audio webcast through Intuit's investor relations website. A replay will be made available approximately 24 hours after the presentation concludes.