Welcome to our dedicated page for Intuit news (Ticker: INTU), a resource for investors and traders seeking the latest updates and insights on Intuit stock.
Intuit Inc. reports company developments across its global financial technology platform, including TurboTax, Credit Karma, QuickBooks, Mailchimp and Intuit Enterprise Suite. News commonly covers tax preparation, consumer finance, small-business accounting, payroll, human capital management, marketing, and cloud-based ERP products for small and mid-market businesses.
Recurring updates include quarterly results by business area, AI-enabled product releases, instant-payment capabilities, partner and reseller relationships, conference appearances, dividends, share repurchases, and governance changes. Intuit’s announcements also describe how its platform connects tax, credit, banking, invoicing, payroll, accounting and marketing data across consumer and business workflows.
Intuit (NASDAQ: INTU) has launched its '$0 Any Way' offer via TurboTax, allowing approximately 60 million filers with simple returns to file for free, using various methods. Over 17 million taxpayers utilized TurboTax for free last year, marking a record. This year, TurboTax expands its offerings to include TurboTax Live Basic and Full Service Basic at no cost for eligible filers. The promotion lasts until February 15, 2022 for Full Service and March 31, 2022 for Live Basic, emphasizing the use of AI for expert matching.
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SVP Charlotte, in partnership with Credit Karma, is investing up to $120,000 into two local nonprofits, Feeding Charlotte and the Soccer Foundation of Charlotte, to enhance upward mobility in underserved communities. This marks SVP Charlotte's 22nd and 23rd investments since 2005, totaling nearly $2 million. Credit Karma's investment includes $90,000 this year, with $60,000 allocated to grants for these organizations. Feeding Charlotte has rescued 58,000 pounds of food this year, providing 48,000 meals. The Soccer Foundation aims to serve over 1,000 students by 2023.
Credit Karma has launched a new tax experience for U.S. members, integrating with Intuit's TurboTax. The new service simplifies tax filing, offering early access to refunds through Credit Karma Money's refund advance programs. Members filing simple tax returns can do so directly in the Credit Karma app and receive their refunds earlier. The platform aims to provide valuable financial insights and tools, helping users manage their money effectively. The integration is designed to enhance user experience and provide greater visibility into personal finances.
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Intuit (NASDAQ: INTU) enhances its QuickBooks Checking with new features aimed at small businesses. Over 150,000 businesses have adopted this banking solution since its 2020 launch, with a 4x increase in active customers since January 2021. Key offerings include mobile check deposit, a virtual debit card, and a competitive 1.00% APY on balances. Additionally, the Cash Flow Planner and Envelopes features provide financial planning tools. This initiative supports small businesses by increasing cash flow visibility and management capabilities.
Intuit QuickBooks forecasts a surge in small business formations in 2022, predicting up to 17 million new enterprises, spurred by the pandemic's influence on work aspirations. A survey of 8,000 U.S. employees revealed that 83% accelerated their entrepreneurial plans due to COVID-19. The report emphasizes small businesses' vital role in job creation, with 5.6 million expected to hire employees. An overwhelming 57% of consumers intend to support small businesses financially. Additionally, the importance of an online presence is paramount, with 88% of small businesses prioritizing online sales.
Intuit's recent survey shows that 93% of mid-sized businesses (10-100 employees) have outgrown some digital tools. Despite this, 79% feel underserved by small business tools, while large enterprise solutions are too complex. The survey of 1,000 owners revealed that 49% view Enterprise Resource Planning (ERP) systems as a growth avenue, yet 47% believe they overpay for unused ERP features. QuickBooks Online Advanced offers a tailored solution for these businesses, aiming to simplify the transition without the high costs of traditional ERPs.
Intuit (NASDAQ: INTU) has launched new products for tax year 2021, enhancing the TurboTax experience with AI-powered expert matching to connect users with tax professionals tailored to their unique tax situations. TurboTax Live offers various services including expert consultations and comprehensive tax preparation. The new features include personalized guidance, year-round tax advice, and a 100% Expert Approved Guarantee. These innovations aim to improve taxpayer confidence and ease the filing process, ensuring maximum credits and deductions are obtained.
Intuit Accountants has announced new updates for its tax software products, including ProConnect Tax Online®, ProSeries®, and Lacerte®, to prepare tax professionals for the upcoming tax season. Key enhancements include features like direct data import, smart navigation, work management tools, and improved eSignature capabilities. The updates aim to streamline workflows and improve efficiency for tax professionals. Additionally, Intuit introduced a new guide, 'Path to Advisory,' to help firms transition to advisory services.