Intuit Debuts Tax Tools for Consumers and Small Businesses – Yurika.R

Intuit has rolled out new tax platform offerings for personal and small business filers.

The company behind services like TurboTax, Credit Karma and QuickBooks announced the new tools Thursday (Dec. 5), saying they were part of its efforts to help taxpayers outside of tax season.

“Receiving a tax refund is a pivotal moment in the financial lives of millions of Americans each year, so we’re laser focused on eliminating the work and worry of tax filing, delivering the best ‘done-for-you’ tax prep experience on the market that puts maximum refunds guaranteed into customers’ pockets faster,” Mark Notarainni, Intuit executive vice president and general manager of the company’s consumer group, said in a news release.

“With our connected consumer platform we go even further, empowering customers across Credit Karma and TurboTax with year-round insights and personalized recommendations, so we can help our customers navigate their financial journey beyond tax season.”

Among the new offerings is the ability for filers to have their taxes prepared for them in as little as two hours via Intuit’s 12,000-member, artificial intelligence (AI)-driven network of experts, including CPAs, EAs and tax attorneys.

Meanwhile, the company’s AI-platform can also auto-fill the majority of tax returns, thus minimizing manual data entry.

“Continuing to build on the previously announced Intuit Assist, customers receive thorough and personalized explanations throughout the filing process, ensuring customers understand the ‘why’ behind the numbers, adding to their confidence that their taxes are done right,” the company said. “While automated workflows anticipate the filer’s needs, serving up real-time accuracy checks as customers complete their return.”

The new offerings are the latest in a series of AI-powered services introduced by Intuit this year, as the company continues its embrace of artificial intelligence.

“We’ve had a strong start to the year as we demonstrate the power of Intuit’s AI-driven expert platform strategy. By delivering ‘done-for-you’ experiences, enabled by AI with access to AI-powered human experts, we continue to fuel the success of consumers and businesses,” Intuit CEO Sasan Goodarzi said on an earnings call last month.

“Our innovation and the proof points we’re observing continue to bolster our confidence in our strategy.”

One day earlier, the company had added a generative AI-powered assistant to QuickBooks designed to help small and medium-sized businesses (SMBs) by generating estimates, invoices, bills and payment reminders and delivering personalized recommendations.

Research by PYMNTS Intelligence has shown that 96% of SMBs that have tried AI see it as an effective tool.