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In May 2023, the company began sending over 4 million customers their settlement checks, which ranged from $30 to $85 USD. [41] In January 2024, the FTC ordered Intuit to fix its misleading ads for "free" tax preparation software - for which most filers wouldn't even qualify. [42]
TaxAct is a member of the Free File Alliance, a free federal tax preparation and electronic filing program for eligible individual taxpayers developed through a partnership between the IRS and a group of private sector tax software companies. [13] In November 2022, private equity firm Cinven agreed to acquire TaxAct for about $720 million ...
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