Intuit Claims Ready for Tax Season

Tax software giant Intuit (TurboTax) claimed that the delayed AMT patch will not be a significant hinderance--at worst, revenue may be deferred to the April rather than January quarter according to Senior VP Brad Smith. Smith said that its professional software (LaCrete and Pro Series) was nearly ready to go to tax preparers and that it would continue free access to the Federal Turbo Tax as a loss leader for state and electronic filing products.

I'm sure that Smith's announcement is comforting to many tax preparers, albeit the preparers would like more testing and installation time. Otherwise, we can only hope that Congress and the President can hammer out an AMT patch soon.