Hey Intuit - we are your customers...and we are ethical.... AND we might leave ....

[Strongsilence-CPA]

Hey Intuit,

We are your customers and you owe us an explanation.

Intuit to pay $141 mln to settle TurboTax deception claims | Reuters

It's difficult, when I really think about it, for me to have hired an unethical company for a valuable and important and necessary software my company uses. Before I leave, I think it best and fair that you have a chance to explain your role in this matter.

Intuit, your competitors offer very good products.  CCH ProSystem, UltraTax CS, Drake, CCH Axcess, ATX are options for me.  

Intuit, What do you want to say to us?

@IntuitAlicia Would you help us get this message to management?

P.S."In afternoon trading, Intuit shares were down $8.47, or 2%, at $422.37."  These are your customers talking.

P.S.S.  AICPA is asking for my opinion. Intuit, you should be very worried.  "To help tax professionals assess which tax preparation software package is best for them, we are conducting our annual tax software survey. If you prepared tax returns this year for clients, please take a few minutes to rate the software you used by following the link below.  Look for reports on the survey results in upcoming issues of The Tax Adviser and the Journal of Accountancy."

[IRonMaN]

$141 million?  I’m surprised ProSeries renewals only went up 5%.  I wonder how much TurrdddoTaxxxx will be going up next year. 

[itonewbie]

What did you say we are?  Oh... customers. /s

Call started...

Your call is important to us.  Please take a hike wait and we'll be with you shortly.

Call answered...

How can I dismiss help you today?  Have you tried...

We can look into it and get back to you (like when we get to it).

Hmmm, can't give an ETA.

Can I help you with something else?  If not, I wish you a pleasant day.

Call ended but problem unsolved...

I feel so loved /s

[George4Tacks]

[IntuitGabi]

Intuit has always been clear and fair with our customers. For Intuit's full response please visit the Intuit blog at blog.intuit.com. 

[BobKamman]

Hey IRS .... we are taxpayers .... you owe us an explanation for why you have fought providing everyone your own software, instead of farming it out to private enterprise.  

But then, we know that the explanation is that Congress thrives on lobbyist money who want to keep you from being a real service.  Same people who assign tax debts to politically-connected private collection agencies.  

[User FIDO 61]

Yes... so many other "good "choices... yet here we all are. Season after Season gleefully grabbing our ankles and breathlessly thanking our Intuit Overlord for the privilege of "Pro" renewal. US$100M+ settlement, why even bother attorneys general? The Lacerte Organizer spell-check hasn't worked in decades and I'm on Auto Renewal. ¯\_(ツ)_/¯

14,000 employees US$9B+ revenues 

[BobKamman]

Speaking of $140 million in fines, how many Intuit customers also do business with USAA?  And do we have an obligation to advise our clients with USAA accounts, that the may be helping Russian oligarchs and others with money laundering?

"Federal regulators have fined USAA Federal Savings Bank, a century-old institution that mainly does business with members and veterans of the U.S. military, for failing to follow anti-money laundering laws.

The comptroller of the currency fined USAA $60 million and ordered it to immediately take steps to improve its monitoring of customers for suspicious activities. FinCEN imposed an $80 million fine, saying the bank had an ineffective anti-money-laundering program for at least five years, from 2016 to 2021, and failed to heed regulators’ warnings about the problem.

“As its customer base and revenue grew in recent years, USAA F.S.B. willfully failed to ensure that its compliance program kept pace, resulting in millions of dollars in suspicious transactions flowing through the U.S. financial system without appropriate reporting,” FinCEN’s acting director, Himamauli Das, said in a statement. The bank “received ample notice and opportunity” to fix its anti-money-laundering controls, he added, “but repeatedly failed to do so.”

USAA said on Thursday that it had not sufficiently strengthened its anti-money-laundering abilities and expertise to meet federal requirements but was cooperating with the Office of the Comptroller of the Currency."

https://www.nytimes.com/2022/03/17/business/usaa-fine-money-laundering.html?searchResultPosition=1 

[IRonMaN]

I never really understood that money laundering stuff.  Do you just use regular laundry detergent for it? Also do you use cold water so it doesn't shrink?  What about fabric softeners?  I'm not sure why they got in trouble for that.  With COVID still going around, I would think they would want everyone to use clean money and you would think laundering it every so often would help with that.

[joshuabarksatlcs]

RE: And do we have an obligation to advise our clients with USAA accounts, that the may be helping Russian oligarchs and others with money laundering?

So, let's just shake out a few more:

Wells Fargo fined $250 million for 'unsafe' home lending management;
JPMorgan Is Fined $200M for Doing Business on Personal Phones, Email;
Feds fine Bank of America $10 million for illegally garnishing bank accounts;
Ernst & Young agreed to pay $10 million to settle the civil charges;
PwC Fined $7.9 Million By the SEC for Making Pretty Dumb and Obvious Independence Violations
Grant Thornton fined £2.3m for Patisserie Valerie audits;
Deloitte & Touche Agrees to Pay $149.5 Million to Settle Claims Arising From Its Audits of Failed Mortgage Lender Taylor, Bean & Whitaker......

So, if you're the stakeholder of any of the above, scream!?!?!?

As for Intuit's fine, if I understood it correctly, it was regarding TurboTax users.  I recall only one fellow community member who mentioned he/she was looking into using TurboTax when he/she started the tax business in the 1980's.  I use Lacerte.  I'm still trying to digest it all to understand Intuit's obligation to me in regards to the fine.  Of course, I'll raise hell in the next annual shareholders meeting.  

[joshuabarksatlcs]

I got the list by googling "XYZ fined".   It's a lazy Sunday morning after all...

If you typed "McDonald's fined", you'd get all kinds of fines.  Smaller amounts.  For not giving employees enough bathroom breaks...  Child labor law violations...  COVID violations...  firing employees who spoke out about COVID violation....  

So, remember the fines next time when you're in for a Big Mac....

But this could be more directly affecting you: A driver in the United Kingdom has been fined £100 for eating McDonald's meal while parked in a Starbucks car park.   

Now, that would be the kind of fines that I'd wake up in the middle of the night to worry about.