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Intuit Pushing Full-service Prep

Intuit is investing in its full-service offering for TurboTax live. CEO Sasan Goodrzi said during a recent webcast for earnings for the year ended July 31. That came as the TurboTax Live offering showing 17-percent revenue growth year-over-year.

“We are investing in scaling our full-service offering, which has good product market fit based on the highest Product Recommendation Scores of any product at Intuit this year,” Goodarzi said.

He also expects, “a large runway ahead of us with TurboTax Live given our ability to use both GenAI and human experts powered by AI to deliver confidence for our customers. Intuit does not disclose actual revenue for the Live program with the number of customers increasing by 12 percent.

Meanwhile, the number of TurboTax units sold in the United States dropped 5 percent for the year ended July 31, including declines in both desktop and online units year-over year.

Intuit said it believes this stemmed from taxpayers who filed returns in order to receive pandemic stimulus and tax credits but did not file taxes this season.

Total units fell to 40.5 million for fiscal 2023 from 42.7 million units the prior year. Desktop units fell 6 percent to 4.5 million from 4.7 million while online units dropped to 40.5 million, down 6 percent from 42.7 million.

Bob Scott
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
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