TurboTax Application

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A TurboTax Application is a financial application for preparation of American income tax returns.

References

2021

  • (Wikipedia, 2021) ⇒ https://en.wikipedia.org/wiki/TurboTax Retrieved:2021-12-17.
    • TurboTax is a software package for preparation of American income tax returns, produced by Intuit. TurboTax is a market leader in its product segment, competing with H&R Block Tax Software and TaxAct. TurboTax was developed by Michael A. Chipman of Chipsoft in 1984 and was sold to Intuit in 1993. Intuit, the maker of TurboTax, has lobbied extensively against the Internal Revenue Service (IRS) creating its own online system of tax filing like those that exist in most other wealthy countries. As part of an agreement with the IRS Free File program, TurboTax allows individuals making less than $39,000 a year to use a free version of TurboTax; a 2019 ProPublica investigation revealed that TurboTax deliberately makes this version hard to find, even through search engines, and that it deceptively steers individuals who search for the free version to TurboTax versions that cost money to use. TurboTax has tricked military service members to pay to use the filing software by creating and promoting a "military discount" and by making the free version hard to find when many service members are in fact eligible to use the software for free. Intuit is under investigation by multiple state attorneys general, as well as New York's Department of Financial Services.


2021

2019

  • https://www.intuit.com/blog/innovation/intuit-tax-knowledge-engine-practical-ai-for-a-smarter-and-more-personalized-turbotax/
    • QUOTE: ... Powered by our Tax Knowledge Engine (TKE), TurboTax uses artificial intelligence (AI) and machine learning (ML) to deliver a personalized, streamlined tax preparation experience. By intrinsically correlating and intertwining more than 80,000 pages of U.S. tax requirements and instructions based on an individual’s unique financial situation, we boost confidence by delivering an accurate, contextual, and layman-friendly experience tailored to each tax filer. ...

      ... The Tax Knowledge Engine has helped TurboTax deliver substantial benefits for our customers: to help them get their taxes done in a personalized way with high confidence and minimal effort. In year 1 of the deployment, we saw a 77 percent helpful rating from our customers on the personalized ExplainWhy feature, a 46 percent reduction in customer calls for one of the top call driver topics (W2). The knowledge graph approach also greatly simplified development experience for our tax domain experts, achieving up-to 7X productivity gain for some of the tax logic development. Together with other AI/ML innovations, Tax Knowledge Engine has played a major role in Intuit Consumer Group’s year over year growth in the highly competitive tax preparation software marketplace. ...

2019b

2013

  • https://blog.turbotax.intuit.com/media-lounge/intuit-turbotax-introduces-new-data-driven-personalization-for-returning-customers/
    • QUOTE: ... Personalized experience: Using data from the prior year’s return, TurboTax 2013 makes tax preparation faster and easier than ever. TurboTax automatically transfers returning customer’s personal information and prior year tax return data, including W-2 wage and salary information from their employer, and then adapts itself based on that information to slash screens and questions that are not relevant to their specific tax situation. With everything TurboTax knows about returning customers, they are often already about a third of the way done with their tax return before they even start entering this year’s information. Taxpayers simply review their personal and employer information and answer some relevant questions and they are done.

      New refund explanations: TurboTax now highlights changes to a customer’s tax refund, providing personalized, easy-to-understand explanations to help them see exactly why their refund increased or decreased. And to help make sure that customers don’t leave a single dollar on the table, TurboTax automatically double checks taxpayers’ returns as they go, searching for every deduction and credit to which they are entitled. ...

2013

2010

  • (Zelenak, 2010) ⇒ Lawrence Zelenak. (2010). “Complex Tax Legislation in the TurboTax Era.” Colum. J . Tax L. 1
    • ABSTRACT: When tax returns were prepared with pencil and paper—in an era now gone forever—Congress did not impose income tax provisions of great computational complexity on large numbers of taxpayers, in the belief that it was unreasonable to require average taxpayers (or their paid preparers) to struggle with computationally complex provisions. As return preparation software gradually replaced the pencil in recent decades, the complexity constraint weakened and eventually disappeared. Congress has responded by imposing unprecedented computational complexity on large numbers of taxpayers—primarily through the expanded scope of the alternative minimum tax and the proliferation of phase outs of credits, deductions, and exclusions. This response would not be problematic, if the only objection to computational complexity were the difficulty of performing the calculations—a difficulty overcome by the widespread adoption of software. Unfortunately, computationally complex provisions generally constitute bad tax policy, even apart from computational concerns. For taxpayers faced with a welter of computationally complex provisions, the income tax is a black box, the inner workings of which are beyond their comprehension. This undermines both the political legitimacy of the tax system and the ability of taxpayers to engage in informed tax planning. In response to the demise of the complexity constraint, argues this Essay, Congress should develop a self-imposed constraint against the enactment (or survival) of computationally complex provisions of widespread applicability.
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