In the consumer tax area, Intuit says it is taking market share from retail stores and given its projections of revenue growth of 10 percent to 13 percent for the current fiscal year, it expects that to continue. "The fact is that consumers want to file their taxes digitally," Smith said in answer to an analyst's question. Consumers proved that as Intuit sold 13.7 million federal online units, a 19.2 percent increase from 10.4 million units in last year's corresponding period. Retail federal TurboTax units sold decreased to 6.2 million, compared to 6.3 million.

The company appeared fairly optimistic for its professional tax side which had a 6 percent increase in revenue growth for 2010 and it expects another 4 percent to 7 percent on top of that for fiscal 2011. Intuit received $1.15 billion from this source in the most recently ended year, compared to $996 billion a year ago, the first time it crossed the $1 billion threshold. However, reported sales of professional software units sold were reported unchanged at $106,000.

Bob Scott

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Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind