TurboTax is a software package for preparation of American and Canadian income tax returns, produced by Intuit. TurboTax is a market leader in its product segment, competing with H&R Block Tax Software and TaxAct. TurboTax was developed by Michael A. Chipman of Chipsoft in 1984 and was sold to Intuit in 1993. The company has been subject of controversy over its political influence and deceptive business practices. Intuit, the maker of TurboTax, has engaged in a multi-million dollar lobbying campaign against the Internal Revenue Service creating its own online system of tax filing like those that exist in most other wealthy countries. Intuit is under investigation by multiple state attorneys general, as well as New York State Department of Financial Services. Read more
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