Intuit Reports Record-Setting Quicken TurboTax "E-Tax Season"; 1.4 Million Taxpayers Prepared Returns Via the Web - Product Information

Edge: Work-Group Computing Report, May 1, 2000

This tax season, a growing number of taxpayers chose to go "online" instead of waiting "in line" at the post office.

Intuit Inc. (Nasdaq:INTU) Tuesday announced six times more volume this tax season over last in the usage of its Quicken TurboTax for the Web service, the leading site for Web-based tax preparation and filing.

Since Jan. 15, 2000, more than 2.2 million taxpayers logged on to TurboTax for the Web, with 1.4 million of those completing their federal tax return by the April filing deadline. This accounts for an estimated 75 percent of all returns prepared on the Web. In addition, 873,000 state tax returns have also been prepared using the service so far this year.

"Our incredible success this year reflects the confidence our customers have in our systems and software," said Bob Meighan, vice president of the Intuit Consumer Tax Group. "This was our fourth year offering Web-based tax preparation, so we understand what it takes to make tax preparation via the Internet faster, easier and reliable."

The company also reported that through the same date, 4.4 million federal and 2.2 million state returns were filed electronically this year through its Quicken TurboTax and Quicken MacInTax desktop programs and TurboTax for the Web. This represents 75 percent of all personally electronically filed returns under the IRS online filing program.

Quicken TurboTax is the number one-selling desktop tax preparation software program. Its online counterpart, Quicken TurboTax for the Web (www.turbotax.com), is the leading site for online tax preparation and filing. In addition, Intuit offers Quicken TurboTax Home & Business (designed exclusively for self-employed taxpayers) and Quicken TurboTax for Business for Corporations and Partnerships.

With 16 years of personal finance expertise, the TurboTax family of products saves time and money for millions of Americans each year. Last year, an estimated one in five individual returns filed with the IRS were prepared using an Intuit consumer or professional tax software program.

Intuit Inc. (Nasdaq:INTU) is the leader in e-finance, including financial software and Web-based financial services for consumers and small businesses. Intuit develops and markets QuickBooks, the most popular small business accounting software; Quicken, the leading personal finance software; and TurboTax, the best-selling tax preparation software.

An innovator in delivering Web-based financial tools, Intuit is the leading provider of online tax preparation and filing and online mortgages. Intuit is also breaking new ground as a leader in online bill presentment and payment, and in the delivery of its QuickBooks Internet Gateway platform of connected e-services for small businesses.

Intuit's Quicken.com Web site (www.quicken.com) is a leading financial site, offering a comprehensive set of financial news, information and tools, including insurance, mortgage, investment and tax preparation services. Intuit's products and services enable individuals, small businesses and financial professionals to better manage their financial lives and businesses.