TurboTax
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| Developer(s) | Intuit, Inc. |
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| Operating system | Windows/Mac |
| Type | Tax software |
| License | Proprietary |
| Website | turbotax.intuit.com |
TurboTax is an American tax preparation software package developed by Michael A. Chipman of Chipsoft in the mid-1980s.Intuit acquired Chipsoft, based in San Diego, in 1993. Chipsoft, now known as Intuit Consumer Tax Group, is still based in San Diego, having moved into a new office complex in 2007.Intuit Corporation is headquartered in Mountain View, California.
TurboTax for the Mac was originally named MacinTax, and was developed by SoftView. SoftView was in turn purchased by ChipSoft.
TurboTax is one of the most popular income tax preparation software packages in the United States, along with its main competitors, Jackson Hewitt, H&R Block at Home, TaxSlayer, and TaxAct.
There are a number of different versions, including TurboTax Deluxe, TurboTax Premier, etc. TurboTax is available for both federal and state income tax returns. The software is designed to guide users through their tax returns step-by-step. The TurboTax software provides taxpayers additional support for their self-prepared returns by offering Audit Defense from TaxResources, Inc.
Typically, TurboTax federal software is released late in the year and the state software is released mid-January to mid-February. TurboTax normally releases its new versions as soon as the IRS completes revisions to the forms and approves the TurboTax versions, usually late in the tax year. The process is similar for states that collect income taxes.
In 2001, TurboTax saved financial institution passwords entered by users to servers at Intuit and the home computer. The programming error was reportedly fixed, but as of 2012 Turbo Tax offers no option to download a data file directly from the financial institution. Instead, it prompts the user for their login name and password at the financial institution or permits the data to be entered by hand.
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