![]() ![]() According to Poulomi Damany, general manager of assets and tax at Credit Karma, the embedded TurboTax experience will only be available to Credit Karma members who haven’t previously filed tax returns with CKT as those members were part of Square’s acquisition of CKT.Īlso, while Damany said Credit Karma aims to provide free tax filing to as many members as possible, it won’t be available to all tax situations. New filers and those that used an alternative tax filing option in the past can start the tax filing process with TurboTax in the Credit Karma platform.Īll Credit Karma members won’t have access to free tax filing. Members that filed with CKT in the past can use Cash App Taxes. Who Can File Their Taxes for Free With Credit Karma?Ĭredit Karma members have two paths for filing their taxes. In some cases, members will be able to file their taxes from start to finish for free.Īccording to a press release announcing the partnership, Credit Karma will also launch a new feature to provide its members who previously filed their taxes with TurboTax with ongoing insights into their finances, income, and taxes-including getting an estimate of their tax refund. The embedded TurboTax product will have the same look and feel as TurboTax but will be housed within the Credit Karma platform. can begin filing their taxes with TurboTax within the Credit Karma app. Through an embedded tax filing experience, Credit Karma members in the U.S. Now that Credit Karma and TurboTax operate under the same Intuit umbrella, the two companies hope to provide an integrated tax filing experience to Credit Karma members in the U.S., starting in January 2022. Credit Karma’s Partnership With TurboTaxĬredit Karma’s DIY tax software used to compete with TurboTax. Previous CKT users will be able to access prior year returns and file tax returns via Cash App Taxes starting in January 2022. Square announced it would integrate Credit Karma Tax into its Cash App platform. Justice Department (DOJ) after the DOJ filed a civil antitrust lawsuit to block Intuit’s acquisition of Credit Karma. The sale was part of a proposed settlement with the U.S. What Happened to Credit Karma Tax?Īt the end of 2020, Credit Karma sold its free do-it-yourself tax preparation platform, Credit Karma Tax, to Square, Inc. And in some cases, you may not be able to file your taxes through Credit Karma at all. ![]() Here's an example of what you'll see if you have the opportunity to apply for a Refund Advance.TurboTax is one of the easiest to use tax software platforms-but unlike Credit Karma Tax, which was completely free for all users, you may have to pay a fee to file your taxes. You will be able to select Refund Advance in the Your refund info step of the File section. Availability of the Refund Advance is subject to satisfaction of identity verification, certain security requirements, eligibility criteria, and underwriting standards. To apply for Refund Advance, you must e-file your taxes with TurboTax and select Refund Advance on a Turbo Visa Debit Card for your disbursement method. Refund Advance is a loan based upon your anticipated refund and is not the refund itself. is not affiliated with Intuit or Green Dot Bank). If approved, the Refund Advance will be disbursed on a Turbo Visa Debit Card issued by Green Dot Bank, Member FDIC (First Century Bank, N.A. You may have the opportunity to apply for Refund Advance when you choose your refund method. Member FDIC 1 on a Turbo® Visa® Debit Card issued by Green Dot Bank, Member FDIC. While completing your taxes with TurboTax®, you may have the opportunity to apply for Refund Advance provided by First Century Bank, N.A. ![]()
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