TurboTax Responds to Price Hike Outrage

Will this calm the first storm of the tax season?

Intuit Inc. has announced that customers using its TurboTax desktop software products can now prepare and print multiple returns at no additional cost.

“We’re responding to changing market conditions and customer feedback,” said Dan Maurer, general manager of Intuit’s consumer division.

Intuit expects this decision will result in a deferral of approximately $70 million of revenue from Intuit’s second fiscal quarter to its third fiscal quarter.

See earlier posting with the full TurboTax announcement: TurboTax Price Hike Stirs Outrage

See comment from Intuit VP Bob Meighan

Reciprocity Dies in California

In the end, was it because of race?

The California Board of Accountancy has reportedly voted to drop a controversial proposal to allow out-of-state accountants to practice without registering their qualifications with the state. Did the proposal die because it contained a 150-hour rule that some considered discriminatory to low-income students, especially Hispanics and African-Americans?

Unlike in many states, in California non-accountants are a majority on the board.

The new accountancy bill was a major priority for the nation’s CPA profession.

Meanwhile, the latest state to mandate the change is Pennsylvania, where on July 10 Gov. Rendell signed a bill amending the state CPA law to require 150 credit hours and one year experience. It goes into effect Jan. 1, 2012.