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people

Intuit & Earned Income Tax CreditNCSL June 27, 2011

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Intuit Proprietary & Confidential

Intuit & EITC

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improve people’s financial lives so profoundly that they cannot imagine going back to the old

way of doing things

promote financial literacy and independence among those populations who would most benefit from the assistance, especially

lower income and underserved taxpayers and small business owners

Earned Income Tax Credit

Intuit Proprietary & Confidential3

Intuit has donated more than 24.8m federal and state returns since 1998.

EITC has been called out in eligibility criteria since 2002 (TY’01)


Making it easier for taxpayers to determine if they are eligible


Intuit has helped taxpayers claim EITC through Free File since 2003 (TY’02) www.freefile.irs.gov

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• Public/Private Partnership – IRS & Consortium of tax software companies

– 21 state revenue agencies & tax software companies

• Covers 70% of all taxpayers– Company can serve no more than 50%

– Income cap @ $58 K AGI for TY’10

– 10 states include EITC as eligibility criteria

• Consumer safety zone– No RALS

– No sales except for state return

– No marketing to customers

• Available mid January – mid October – Date based on when the IRS can receive e-filed returns

– TY’11 launches around January 16, 2012

Alabama

Arkansas

Arizona

Georgia

Idaho

Iowa

Kentucky

Michigan

Minnesota

Missouri

Mississippi

New York

North CarolinaNorth Dakota

Oklahoma

Oregon

Rhode Island

South Carolina

Vermont

Virginia

West Virginia

State Free File Programs*

* Modeled on IRS Free File


IRS FAST: Free Assisted Self-Service Tax Preparation

What is FAST?

An IRS VITA /Free File Partnership

Benefits of FASTFor the Tax Prep Site

Assisting more taxpayers by screening for eligible individuals

Focusing more resources on taxpayers requiring direct assistance

Crediting of FAST return counts to your site(s)

Teaching taxpayers to fish” by empowering them to complete their return

For the Taxpayer

Expedited preparation of their return

Improved understanding of tax preparation

Added experience for filing future returns

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Bringing FAST & Free File to Life in Local Communities

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How we help


http://www.facebook.com/photo.php?pid=9347709&id=218181715192


Savings Bond ExperienceThe dilemma: Through Intuit’s experience with taxpayers, especially the lower and moderate income filers who use

TurboTax Freedom Edition for free through the IRS Free File Alliance (www.FreeFile.IRS.gov) , we recognized that lower- and moderate-income taxpayers had few opportunities to invest in savings.

The need: Find a way to help lower- and moderate-income taxpayers save—a way that was fast, easy, secure, and affordable.

The solution: Work with D2D, other nonprofits and the federal government to make buying savings bonds accessible to all taxpayers.

Promote the savings bond option throughout all TurboTax products and in all possible communications – in product, online communities, external PR.

The results: In Tax Year 2010 …• The IRS reports 44,000 taxpayers used the opportunity to purchase a total of approximately $10.7 Million

in bonds.• More than 15,000 of those taxpayers made their purchase using Intuit’s suite of TurboTax products.

(22,480 bonds purchases) totaling $5.8M, with average bond purchase of $260)• The largest percentage of purchasers were Single /Head of Household filers with average HH income

$44K

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