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In December 2020, Intuit acquired Credit Karma for approximately $7.1 billion. The acquisition was initially delayed due to a DOJ antitrust lawsuit but it was finally approved after the company agreed to divest its free tax preparation service, known as Credit Karma Tax, which was a direct competitor to Intuit's TurboTax product. [23] [24]
Other popular tax software includes: TaxACT at 7%, Tax Hawk (including FreeTaxUSA) at 5.9%, Credit Karma's free tax software (now owned by the Cash App) at 1.7%, and TaxSlayer at 1.5%. [25] According to a survey by Credello, 53% of respondents filed their taxes with an online software system and 12% filed their taxes independent of a software ...
Intuit's products include the tax preparation application TurboTax, the small business accounting program QuickBooks, the credit monitoring and personal accounting service Credit Karma, [2] and email marketing platform Mailchimp. [3] As of 2019, more than 95% of its revenues and earnings come from its activities within the United States. [4]
Credit Karma Tax costs are minimal — $0, to be exact — and the service is comparable to other online tax preparation resources. Here are more of the benefits of using Credit Karma Tax to file ...
Intuit wants to manage more of your financial data. The TurboTax developer has bought Credit Karma, best known for helping people track and control their credit, for $7.1 billion in cash and stock.
Credit Karma Tax is a free, online tax preparation and filing service that launched in 2016. As a relative newcomer to the online tax preparation industry, Credit Karma Tax allows you to try its...