Intuit Inc. (Nasdaq: INTU) responded today to a decision of the U.S. District Court for the District of Columbia that prevents the Internal Revenue Service from regulating non-professional tax return preparers.
The ruling, issued Jan. 18, could affect up to 700,000 tax return preparers who won’t have to obtain credentials, ranging from independent preparers to employees at national storefronts, such as H&R Block.
The following statement can be attributed to Dan Maurer, senior vice president and general manager of Intuit’s Consumer Tax Group:
"Intuit supports efforts to strengthen and enhance the tax preparation services industry and is disappointed in the court decision regarding IRS industry oversight. The public interest is best served when all competing tax service providers meet high standards. Intuit testified in support of the IRS effort at the public hearing IRS conducted in Chicago in September 2010.
"For almost 30 years, Intuit's TurboTax® has been dedicated to delighting customers through innovation, quality and ease of use, putting the power in peoples’ hands to help them keep more of their hard-earned money. All TurboTax tax experts are highly qualified certified public accounts, IRS enrolled agents and tax attorneys. That’s why more Americans trusted their federal taxes to TurboTax last year than H&R Block stores and all other major tax stores combined.
"We believe the drive toward raising overall tax industry standards must and will continue and the recent court decision is not the end of this important national journey. In the meantime, we will continue to comply, as we always have, with return preparer requirements and other regulations issued by IRS as they apply to Intuit's tax products and services."
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® are Intuit's leading tax preparation offerings for professional accountants.
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Founded in 1983, Intuit had annual revenue of $4.15 billion in its fiscal year 2012. The company has approximately 8,500 employees with major offices in the
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