INTU:NASDAQ – Large Cap Stock (Application Software)

Intuit Inc – INTU Stock Overview

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Press Release

Court Denies Second Attempt to Pull Intuit’s TurboTax Ads

SAN DIEGO--(BUSINESS WIRE)--Mar. 11, 2013-- Intuit Inc. (Nasdaq: INTU) responded today to a decision by the U.S. District Court for the Western District of Missouri denying, for the second time, H&R Block’s attempt to stop Intuit from continuing to air two television advertisements for TurboTax.

In denying H&R Block’s motion for a preliminary injunction, the court noted that although H&R Block makes “much of their training programs for tax preparers in their first year and beyond, training is not the same thing as experience.” The judge further stated that “it is not false or misleading…to draw consumers’ attention to the true statement that certain consumers who go to major tax stores could have their taxes prepared by someone who has no prior work experience preparing taxes.”

The court further recognized that the statement “More Americans trusted their federal taxes to TurboTax last year than H&R Block stores and all other major tax stores combined” is true.

The statement below can be attributed to Dan Maurer, general manager and senior vice president of Intuit’s Consumer Tax Group.

“Today’s ruling is a victory for hardworking taxpayers. For the second time, the court has rejected H&R Block’s attempts to pull advertisements that make clear to taxpayers that TurboTax hires only CPAs, Enrolled Agents and tax attorneys to assist Americans as they prepare their own tax returns. This stands in sharp contrast to the prior tax experience of some of those who major tax stores advertise for and hire.

“At TurboTax, we exist to help people keep more of their hard-earned money. We do that by combining the ease and convenience of preparing taxes anytime, anywhere, without an appointment, with help from only the most highly qualified and credentialed tax experts.

“We urge taxpayers to take a second and look at who is preparing their tax return at H&R Block. Not only does TurboTax save taxpayers on average $100 or more over H&R Block stores, we stand behind every return with our 100% Accurate Calculations Guarantee and our Maximum Refund Guarantee so customers can be confident they’ll get it right the first time.

“Our customers - nurses, teachers, firefighters, U.S. service men and women, people who work the night shift, people who work double shifts, more than 25 million Americans in all, tell us they choose to do their own taxes with TurboTax because they get their maximum refund possible and save more of their hard-earned money in the doing.

“Think about who you trust to help keep what you earned. For 31 years, we’ve believed that the best person to do your taxes is you. And TurboTax is here for you every step of the way, whenever you need us. It’s why more Americans trusted their federal returns to TurboTax last year than to H&R Block stores and all other major tax stores combined.”

About Intuit

Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit’s leading tax preparation offerings for professional accountants. Intuit Financial Services helps banks and credit unions grow by providing on-demand solutions and services that make it easier for consumers and businesses to manage their money.

Founded in 1983, Intuit had annual revenue of $4.15 billion in its fiscal year 2012. The company has approximately 8,500 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at http://www.intuit.com.

Intuit and the TurboTax logo, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries. Live tax advice is a free service available year round via phone or live chat. Restrictions apply. Experience levels, hours of operation and availability vary and are subject to change without notice. See http://www.turbotax.com for details.

Source: Intuit Inc.

Intuit Inc.
Julie Miller, 858-215-8469 (Media)
Julie_miller@intuit.com
Matt Rhodes, 650-944-2536 (Investors)
matt_rhodes@intuit.com