RealTime IT News

The Tax Man Cometh to Yahoo!

Intuit Inc. scored a coup of sorts by signing a multi-year agreement with portal Yahoo! Inc. that makes its TurboTax for the Web product available to visitors to the Yahoo! Finance Tax Center.

Sunnyvale, Calif.-based Yahoo! said the tax center offers a wealth of tax information and lets visitors obtain relevant tax forms as well as prepare and file tax returns via the Intuit deal.

"More and more consumers are realizing just how easy and quick it can be to file taxes online," said Wade Lagrone, senior producer at Yahoo! Finance. "Combining content, calculators, forms, preparation and filing services the Tax Center has the tools and services consumers need to help ease stress and reduce hassle during the tax season."

Revenue, of course, is one of the motivators for both companies, although financial arrangements were not disclosed. The Quicken TurboTax for the Web service, which enables taxpayers to prepare and submit their completed tax return electronically to the IRS, comes with what Yahoo! in a news release described only as a "nominal fee."

However, the site tells consumers they can "Try it for free and pay only when you print or file." A federal return costs $29,95; state returns are $12.95.

San Diego-based Intuit's TurboTax for the Web asks users to answer a series of easy-to-understand questions and then automatically completes required IRS tax forms and double checks for errors and missed deductions.