Intuit Inc. (Nasdaq: INTU), the global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, today announced a suite of offerings designed to help filers access their tax refunds faster and more affordably as TurboTax e-file opens for the 2024 tax season. The offerings include the only do-it-yourself mobile app offer on the market, providing completely free federal and state tax preparation regardless of tax complexity. In addition, TurboTax is providing the first and only fast refund guarantee that delivers federal tax refunds 5 days early no matter the filer’s banking institution, helping consumers get faster access to critical funds.

For millions of Americans, the tax refund, averaging over $3,000, represents the largest paycheck of the year. Getting fast access to those funds can be indispensable. According to a generational tax survey conducted on behalf of TurboTax by Talker Research, 93% of Gen Z expects to get a refund this year and they plan to use their refund to pay for necessities. In fact, access to faster refunds would mean they are able to avoid debt fees (20%), pay rent on time (35%), and pay off debt (35%).¹

"We are proud to continue advancing our faster refund offerings as well as provide free do-it-yourself filing through our mobile app offer to arm our customers with the financial flexibility and security they deserve,” said Executive Vice President and General Manager of Intuit's Consumer Group, Mark Notarainni. “We are giving our customers unparalleled access to their hard-earned money at affordable prices, empowering them to pay bills, pay down debt, and manage daily expenses with greater ease and peace of mind."

Although many companies claim to offer fast refund services, they often do not deliver the funds where consumers need them. Moving money between bank accounts can take up to 5 days. Unlike traditional refund services, TurboTax’s newest 5 Days Early refund offering delivers these vital funds into any U.S. bank account, providing taxpayers expedited access to their money.

TurboTax’s fast money offerings include:

• NEW! 5 Days Early Refund Offering² - Consumers can get their federal refund delivered 5 days before IRS settlement - guaranteed.³ For a $25 flat fee, TurboTax delivers the refund into any U.S. bank account in the customer’s name whether they file through TurboTax or Credit Karma. Refunds are guaranteed to be delivered at least five days early into a customer's bank account of choice or customers will not be charged the 5 Day Early fee. Intuit will also continue to offer the option to deposit a federal refund into a Credit Karma Money^TM account,⁴ delivered up to 5 days early, for no additional cost.⁵
• Refund Advance - TurboTax will continue to offer its no fee, no interest loan for those filers who need funds immediately. Customers can get approved to receive up to $4,000,⁶ delivered in as little as 60 secs after IRS acceptance of their tax filing,⁷ into a Credit Karma Money^TM account. $0 loan fees, 0% APR, no credit score impact.

"TurboTax's accuracy and maximum refund guarantees, coupled with our faster access to crucial money, deliver an unparalleled experience, especially to those who need fast access to cash,” said Notarainni. “We're not just meeting a financial need; we're doing it with speed and simplicity, and at unmatched prices."

Unbeatable Pricing with Do-it-Yourself Mobile App Offer Plus Exceptional Prices for Assisted Filers

Not only is TurboTax providing multiple ways for consumers to access refunds faster, but the company is also providing the only free do-it-yourself federal and state filing option on the market available to filers of any tax complexity. Through its Free Mobile App Offer everyone new to TurboTax, or those who did not file with TurboTax last year, regardless of their tax complexity, can file their own federal and state taxes for free through the TurboTax mobile app through Feb. 18, 2025. No other tax preparation provider on the market has an offer like this.

In addition, starting Jan. 15, 2025 assisted filers who hand off their taxes to an expert with TurboTax Live Full Service and file by March 25, 2025 are guaranteed a minimum 10 percent reduction in the fees they paid their tax professional last season with the upcoming Beat Your Price Offer.

The importance of faster refunds to consumers is clearly demonstrated in TurboTax’s generational tax survey of 4,000 Americans. Results found that for many Gen Z and Millennial filers, early access to funds is critical in helping them avoid late payments and fees. TurboTax also found that a majority of consumers across all generations plan to prioritize spending their refunds on necessities, like food and medication.

TurboTax Generational Tax Survey Highlights:

When asked what getting their tax refund a week earlier would allow them to do, those surveyed shared:

• The 93% of Gen Z who expect to receive a refund felt faster funds will help pay off debt (35%), and even pay their rent on time (35%), while all generations expressed earlier refunds would lead to them comfortably affording necessities such as food and medications, and noted being less stressed overall (Gen Z 35%, Millennials 32%, Gen X 27% and Baby Boomers 13%).

When asked how they plan to spend their 2025 tax refund, those surveyed shared:

• Despite generational differences, the common thread among all generations is the prioritization of financial responsibility with their tax refunds, focusing on essential needs such as housing, food (33%), and savings (43%) over discretionary spending such as travel, vacation (13%), and entertainment (8%).
• We also see more Gen Z noting they will invest their refunds through stocks, bonds, or crypto (19%) over any other generation (Millennials 16%, Gen X 10%, Baby Boomers 6%).
• They also feel they will spend their refund on entertainment, such as concerts and sporting events (14%) over other generations. Only 9% of Millennials, 5% of Gen X, and 1% of Baby Boomers noted they would spend their refund in this way.

Tax year 2024 TurboTax products are now available for consumers and small businesses in English and Spanish at www.TurboTax.com, the Apple App Store and Google Play Store. Credit Karma tax products are now available in English via the Credit Karma app.

Visit the following pages to learn more about TurboTax Faster Money Offerings:

• 5 Days Early Refund Delivery with TurboTax: https://turbotax.intuit.com/early-tax-refunds/
• Up To 5 Days Early with Credit Karma Money: https://turbotax.intuit.com/credit-karma-money/
• Refund Advance no fee loan: https://turbotax.intuit.com/refund-advance