TurboTax in trouble
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 23 January 2024
⏱️ 7 minutes
🧾️ Download transcript
Summary
Just in time for tax season, the Federal Trade Commission has issued a final ruling against Intuit, the maker of TurboTax, over what it claims is deceptive marketing for TurboTax’s free online tax filing software. We’ll dig in to that decision. Then: a look at what’s expected to lose United Airlines money in Q1 and an examination of how luxury development is dividing the island of Barbuda.
Transcript
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| 0:00.0 | Trouble for Turbo Tax and United 2 from Marketplace. |
| 0:05.0 | I'm Sabrie Beneshore in for David Brancaccio. |
| 0:08.0 | Just in time for tax season, the Federal Trade Commission has issued a final ruling against Intuit, the maker of TurboTax. |
| 0:15.0 | The FTC is ordering Intuit to stop what it calls deceptive advertising for its online tax filing software. |
| 0:21.8 | Marketplace is Nancy Marshall Genser has the details. |
| 0:24.4 | The FTC says Intuit deceived consumers by running ads claiming some of its tax products and |
| 0:30.0 | services were free when most consumers would in fact have to pay for them. |
| 0:34.3 | The agency ordered Intuit to stop making what it called deceptive claims and says Intuit can |
| 0:39.7 | only advertise something as free if it's free for everyone or disclose the percentage of |
| 0:44.9 | consumers who actually qualify for the free product or service into it marketed its |
| 0:49.4 | TurboTax Free Edition as a basic version of its software that was free for taxpayers with simple returns. |
| 0:56.0 | Into it says it's immediately appealing the FTC decision. |
| 0:59.6 | The company says it has always been, quote, clear, fair, and transparent with its customers and is committed |
| 1:06.0 | to free tax preparation. Intuit also points out it doesn't have to pay a penalty. |
| 1:11.2 | The FTC ruling on Intuit comes as the IRS rolls out its own free |
| 1:15.6 | electronic filing service this tax season. Taxpayers in more than a dozen |
| 1:19.8 | states can participate in a pilot program this year. |
| 1:23.0 | I'm Nancy Marshall Genser for Marketplace. |
| 1:26.0 | We've got our first look at how the grounding of Boeing 737 Max Nine planes is hitting Airlines bottom lines. |
| 1:34.6 | Aside from Alaska Air, United is the other domestic airline that uses Max |
| 1:38.3 | 9s and it has reported earnings. |
| 1:40.4 | United expects to lose money in the first three months of the year, even though demand |
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