Intuit TurboTax Comments on IRS Guidance for Couples in Legal, Same-Sex
SAN DIEGO -- August 30, 2013
Intuit TurboTax® released the following statement in response to guidance
provided by the U.S. Department of the Treasury and the Internal Revenue
Service (IRS) on the U.S. Supreme Court ruling on the Defense of Marriage Act
(DOMA). Under the ruling, same-sex couples will be treated as married for
federal tax filing purposes.
The statement can be attributed to David Williams, Chief Tax Officer, Intuit
“This is a milestone in equality in the nation’s tax system for those in
same-sex marriages. It will be a significantfinancial benefit for some
taxpayers who before could not fully take advantage of important tax
deductions and credits, including the Earned Income Tax Credit, to which other
married couples were already entitled.
Same-sex couples who are legally married will now be recognized by the federal
government, meaning it will be easier for them to file their taxes, among many
other things.A couple who previously had to file two separate federal tax
returns can now file one joint federal tax return – in most cases reducing
their tax liability. This could be a federal tax savings of about $500 for a
couple making a combined salary of $80,000 annually.
In addition, the court's ruling has the potential to savesomepeople hundreds
of dollars in tax preparation costs. Taxpayers who previously had to pay high
fees to have someone else prepare their tax return due to the complexity of
filing multiple federal and state returns can easily and accurately prepare
their taxes together with tax software at a significantly lower cost.”
For more information on how this impacts taxpayers, visit the Tax Break: The
TurboTax is the nation’s No. 1 rated, best-selling, do-it-yourselftax
preparation software. Available on desktop, online and mobile, TurboTax helped
more than 25 million people last year keep more of their hard-earned money.
For more information, visit theTurboTax press room, like us on Facebook
atwww.facebook.com/turbotax, follow us on Twitter at twitter.com/turbotax, or
visit our blog, Tax Break: The TurboTax Blog, at blog.turbotax.intuit.com/.
About Intuit Inc.
Intuit Inc.creates business and financial management solutions that simplify
the business of life for small businesses, consumers and accounting
Its flagship products and services includeQuickBooks®,Quicken®
andTurboTax®, which make it easier to managesmall businessesandpayroll
processing,personal finance, andtax preparation and
filing.Mint.comprovides a fresh, easy and intelligent way for people to
manage their money, whileDemandforce® offers marketing and communication
tools for small businesses.ProSeries® andLacerte® are Intuit's leading tax
preparation offerings for professional accountants.
Founded in 1983, Intuit had revenue of $4.2 billion in its fiscal year 2013.
The company has approximately 8,200 employees with major offices in theUnited
States,Canada, theUnited Kingdom,Indiaand other locations. More
information can be found atwww.intuit.com.
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