The way you get paid may vary. The release says that "impacted consumers will automatically receive notices and a check by mail," though the settlement goes on to say Intuit must create a system where people "may elect to receive their payments through an electronic payment processor such as Venmo, PayPal or Zelle instead of by check."
Full Answer
What does the Intuit settlement mean for the tax industry?
The settlement was the result of an investigation stemming from a 2019 ProPublic report that alleged Intuit steered lower-income consumers away from tax services that were available for free through federal support and toward commercial products.
How much will Intuit pay you to file your taxes?
Intuit will pay up to $90 to Americans who paid to file their taxes with TurboTax from 2016 to 2018 when they should have been eligible to do so for free through the IRS's Free File program. As part of that program, taxpayers who earned less than $34,000 for the 2018 tax year would have qualified for the free service.
How much did Intuit pay back for tax fraud?
That was the finding of a multistate investigation led by Attorney General Letitia James of New York. Ms. James announced on Wednesday that Intuit, the company creating the software, would pay back $141 million to more than four million Americans who were unfairly charged for tax services that were falsely advertised as free.
Did Intuit cheat millions of Americans out of free tax filing services?
“Intuit cheated millions of low-income Americans out of free tax filing services they were entitled to,” said New York Attorney General Letitia James in a statement. “For years, Intuit misled the most vulnerable among us to make a profit.
How do I get my money from TurboTax settlement?
0:431:30No action required to receive money from TurboTax settlement - YouTubeYouTubeStart of suggested clipEnd of suggested clipNow if you are one of those people. And you file between the 2016. 17 or 18. Tax years you are nowMoreNow if you are one of those people. And you file between the 2016. 17 or 18. Tax years you are now eligible for a 30 check and you don't have to do anything to get it simply get a notice in the mail.
Will I get a refund from TurboTax lawsuit?
A $141 million settlement announced Wednesday will return up to $90 to consumers who were wrongfully charged for tax-filing services from 2016 to 2018.
Do I qualify for the TurboTax settlement?
Anyone making less than $73,000 a year is eligible for free filing through IRS Free File. Eligible customers must have used TurboTax to file for tax years 2016, 2017 or 2018. A “tax year” is the year covered by a person's tax filing, typically the calendar year before the return is filed.
What happened with the TurboTax lawsuit?
Under terms of a settlement signed by the attorneys general of all 50 states, Intuit Inc. will suspend TurboTax's “free, free, free” ad campaign and pay restitution to nearly 4.4 million taxpayers.
How long does it take to get a check from TurboTax?
21 daysMost refunds will be issued in less than 21 days. You can start checking the status of your refund within 24 hours after you have e-filed your return. Remember, the fastest way to get your refund is to e-file and choose direct deposit.
How much will each person get from the TurboTax lawsuit?
If you qualify, you will automatically receive a direct payment of approximately $30 for each year that they were deceived into paying for filing services, according to James' office. The checks will come from the $141 million settlement, minus $2.5 million in administrative costs.
Who is eligible for Intuit settlement?
Intuit's “Freedom Edition”, also called the IRS Free File Program, allowed anyone who (1) had an adjusted gross income (AGI) of $36,000 or less, (2) was eligible for the Earned Income Tax Credit, or (3) was on active military duty and had an AGI of $69,000 or less to use the product to prepare and file their taxes for ...
Why did TurboTax refund some users?
Millions of Americans will receive refunds from TurboTax because they were duped into paying for tax prep that was supposed to be free, according to a nationwide settlement announced by the New York attorney general's office.
Is the lawsuit against TurboTax real?
FTC Sues Intuit for Its Deceptive TurboTax “free” Filing Campaign | Federal Trade Commission.
How do I email TurboTax?
Turbo Tax does not have a customer service email address. You can call 1-800-624-9066 for additional assistance.