Intuit Aiming for 10-Minute Tax Return Investor's Business Daily (02/08/01) No. 3719 p.A8; Graham, Jed
Over the past year, Intuit has been moving to strengthen its
leading position in small-business accounting and personal finance.
Intuit's Quicken TurboTax for the Internet is said to be the cure for
any worries about the April 15 deadline. In addition to performing
calculations, TurboTax automatically collects data from a person's 1099s
and W-2s. Intuit founder Steve Cook recently told Investor's Business
Daily that Intuit is working to make worries over tax season obsolete.
Cook commented that, "My dream for the last six years has been to take
the time it takes people to figure out their taxes and slash that to 10
minutes ... in a couple or three years--we will be able to get it down
to that." Intuit's Automatic Tax Return, which debuted in January, is
the harbinger of such technology. The software, which fills your taxes
out for you, is connected to the original source of the data--brokers
and employers' payroll services.