Following this announcement, the members and customers of Credit Karma and QuickBooks will be given the possibility to prepare and file their 2023 taxes through the use of TurboTax, the process being included in the Credit Karma and QuickBooks Online product experiences.
The partnership combines Intuit’s AI-platform capabilities and the overall tax knowledge engine that powers TurboTax with a filer’s personal and financial data that was already present in Credit Karma or QuickBooks. These integrations are set to develop a more efficient, secure, and personalised tax preparation, as well as filling experience, for individual tax fillers and small business owners.
The incorporation of TurboTax into Credit Karma and QuickBooks aims to meet the needs, preferences, and demands of the companies’ clients and users, while also remaining compliant with the requirements and laws of the local industry. TurboTax was developed in order to deliver members a suite of full-service, assisted, and DIY tax preparation offerings, for individuals, families, and small businesses to serve users in their preferred way.
Filers will be enabled to choose to file their taxes themselves, with the possibility to leverage assistance along the way or to fully hand off their taxes for a virtual or in-person tax preparation experience. These ways will enable members to receive the same TurboTax maximum refund and accuracy guarantees, regardless of the Intuit product they choose to file from.
Credit Karma customers will be allowed to enjoy fast filling and early refund access with Credit Karma Money. Members who did not file with TurboTax last year and who choose to do their taxes by themselves will be enabled to file their federal and state taxes in the Credit Karma application, with TurboTax, at no additional cost. For individuals who prefer additional assistance in the process of filing their taxes, expert assistance will be available for them at an additional cost. Furthermore, members who chose to receive personalised guidance and who are due for a refund are expected to receive recommendations on how to leverage their refund in order to make financial progress.
At the same time, the small business clients of QuickBooks will receive unlimited expert assistance for a secure and efficient tax preparation and filing procedure. By using TurboTax through QuickBooks Live Tax solution, members of the company will be enabled to save time, effort, and resources by moving from books to taxes and gain access to expert help in order to get their maximum refund.
This season, QuickBooks Online will also provide small businesses with two new solutions: the QuickBooks Live Full-Service Tax (S-Corps, multi-member LLCs, as well as partnerships that can fully hand off their business taxes to a team of experts), as well as the QuickBooks Live Assisted Tax (sole proprietors and single-member LLCs that file a Schedule C will be enabled to get their self-employment taxes done with expert advice).
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