Intuit notes the independent contractors who drive for Uber can use the new version of QuickBooks to send data to TurboTax Online. QB Self-Employed is designed to track time and business expenses
Block is offering drivers a twenty-dollar discount on tax preparation fees. The tax store chain said its preparers can ensure drivers receive "all the tax benefits they are entitled to as self-employed taxpayers, while ensuring they meet all IRS requirements."
Without mentioning the competition, the wording and timing of Block's press release left no doubt its offer directly challenged Intuit's. Kip Knight, H&R Block's president of U.S. retail operations, said in a prepared statement, "We have the expertise and technology to give relevant, accurate tax support to every type of self-employed or small business filer."
Intuit and Block annually battle to gain market share in the consumer tax preparation business. This year, Block is trying to gain an advantage of Intuit's decision to no longer offer Schedule C on its TurboTax Basic edition or Schedules D, E and F on the Deluxe edition. In both cases, those who need the form must move to the higher priced version.
Last week, Intuit CEO Brad Smith said the decision was a mistake and apologized to TurboTax users. Smith said the company would offer Deluxe edition users the chance to recoup the $25 they spent if they moved to TurboTax Premium to get the three schedules.
The new QuickBooks edition can import supported bank and credit card accounts data and category transactions as "business" via the click of a button or by swiping a finger across a mobile app. It tracks deductions and calculate estimated quarterly and year-end taxes.
Intuit is offering a six-month introductory price of $6.93 monthly for QB Self-Employed, 20-percent less than the regular price of $7.99 a month.