TurboTax filers may soon be receiving settlement checks.
While our clients rely on our firm to prepare their income tax returns, many of our clients have children, grandchildren or friends who are able to utilize TurboTax’s file-for-free service to prepare a straightforward income tax return.
Select taxpayers who used TurboTax to file their tax returns may soon be receiving a settlement check as the result of a multistate settlement with TurboTax’s parent company, Intuit, Inc. The settlement, which was announced a year ago, came as the result of Intuit being accused of steering low-income taxpayers towards fee-based products after advertising no-cost tax filing services. Taxpayers who used Intuit’s TurboTax to file their return for a fee but would have qualified for the Internal Revenue Service’s Free File program for the years covered by the settlement will qualify to receive a check as a result. The FAQs below will help determine whether you should expect to receive a settlement check:
Which year tax return(s) are affected by the settlement?
The settlement covers returns for tax years 2016, 2017, and 2018.
How do I know if I qualify for the IRS Free File Program?
The availability of the Free File Program is based on Adjusted Gross Income (AGI). In 2016, the Free File Program was available for taxpayers with AGI of $64,000 or less.
How will I receive my settlement? Do I need to do anything?
Per the settlement terms, payments will be sent automatically via check. There is no need to file a claim.
How much will my settlement check be?
Most are expected to receive between $29 and $30.
For more information please don’t hesitate to contact a WG advisor.
