Credit Karma launches a new tax experience to help its US members file their taxes seamlessly with Intuit TurboTax integration and get faster access to refunds through Early Deposit and Advance Redemption programs
Credit Karma, the consumer technology platform with more than 110 million members in the United States, has launched a new tax experiment with the goal of taking the stress, uncertainty and complexity out of taxation and helping members get the most out of their refund. This includes seamless tax filing through TurboTax, faster access to refunds in season through early filing and pre-refund programs, as well as deeper insights into their finances throughout the remainder of the year. Through this integration, Credit Karma and TurboTax, from INTUit (NASDAQ: INTU), will give most manufacturers with simple tax returns the option to file their taxes with TurboTax directly within the Credit Karma app and get faster access to their refund through Credit Karma Money. 1
In addition, Credit Karma will launch a new feature to provide its members who have previously filed their taxes with TurboTax with rich insights into their finances, income and taxes on an ongoing basis. Members will also be able to estimate refunds and review common tax terms to help them better understand their finances, navigate life’s events and plan for the future.
“Much like credit scores, taxes are an essential part of our financial lives. However, most of the year, taxes are largely ignored by consumers. This is because they can be intimidating and confusing for most people. This is a problem we are in,” said Ken Lane. D., founder and CEO of Credit Karma, “is well positioned to resolve, especially now that we are part of the Intuit family.” “By combining forces with TurboTax, we believe we can deliver more value to our members, giving them greater visibility into their income and taxes over the course of the year.” year and provide them with a seamless, first-class tax filing experience.”
Credit Karma leans on Intuit’s innovative technologies through its recent integration with TurboTax, the leading online tax preparation company. Now, Credit Karma members who choose to file their taxes with TurboTax within the Credit Karma app will be able to enjoy the best of both products, along with special offers and discounts. For example, some tax brokers who choose to deposit the full refund into a Credit Karma Money Spend account 2 She will be able to file her taxes with TurboTax for free. 3 In addition, TurboTax mentors who choose to deposit their refund into a spend account can receive refunds early through direct deposit. 4 Some eligible applicants may have the opportunity to receive a portion of the refund even earlier, and in some cases as little as one hour after the IRS accepts their return 5 , through the TurboTax Advance Refund Program 6 .
“Refunds are often the largest paycheck of the year for many Americans, averaging $2,800 per person. Meanwhile, 60% of Americans cannot afford to pay $1,000 in an emergency. We want to bridge this gap by helping consumers get Reaching their refund sooner gives them a better place to receive and manage their money,” said Polumi Damani, General Manager Asset & Tax at Credit Karma. “With Credit Karma Money, members have access to a suite of tools to help them stay on top of their bills, save money, and build credit for some members.
Financial Insights, a new feature in the Credit Karma app, will provide members who have previously filed their taxes with TurboTax with a snapshot of information from previous years’ tax returns, as well as a breakdown of other key tax stats, such as past refund amounts, actual tax rates, and the amount of taxes paid nationwide. State and federal level. Additionally, members will be able to see trends in their data over time and how this compares to others with similar profiles.
About Credit Karma
Founded in 2007 by Ken Lin, Credit Karma, INTUit (Nasdaq: INTU), a consumer technology company with more than 120 million members in the US, UK and Canada, including nearly half of all millennials in the US United. While company members are known for their pioneering free credit scores, company members turn to Credit Karma for everything related to their financial goals, including identity control, applying for credit cards, shopping for loans (car, home, and personal), auto insurance, and accounts Save and now check accounts with our banking partner, MVB Bank, Inc. , FDIC member – all for free. Learn more about how Credit Karma members are making financial progress on TikTok, Instagram, Facebook and Twitter.
Intuit is a global technology platform that helps consumers and small businesses overcome their most important financial challenges. Serving more than 100 million customers worldwide with TurboTax, QuickBooks, Mint, Credit Karma, and Mailchimp, we believe everyone should have a chance to thrive. We never stop working to find new and innovative ways to make this possible. Please visit us for the latest information on Intuit, our products and services and find us at social .