And while it’s dithered, its stock has withered: Intuit shares have lost 7.25% this year through Friday, much worse than the 3% decline suffered by the S&P 500 index. It doesn’t help that Intuit thus far hasn’t fallen over itself to make things right with its customers. H&R Block is even offering irate TurboTax customers a free download of its own software program. That’s because Intuit quietly made changes in TurboTax this year that has its customers screaming bloody murder and its rivals-H&R Block and TaxAct-rubbing their palms together in glee. Intuit’s TurboTax software program long has been the king of do-it-yourself tax preparation, with nearly 30-million customers and a market share of 60-65%.īut you probably won’t lose money betting that these figures will come down next year.
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