Intuit Simplifies and Streamlines Tax Prep for Pros; Supercharged Lacerte(R) and ProSeries(R)...

PLANO, Texas -- Despite increasingly complicated tax laws, there may never have been a better time to be a professional or part-time tax preparer. Intuit Inc. (Nasdaq:INTU) today announced its plan to simplify and streamline its best-selling Lacerte(R) and ProSeries(R) tax products. It also officially

"After investing more than 3,000 hours talking to and observing tax preparers, we've found that being more efficient is at the top of their to-do lists," said Karl Grass, general manager and vice president of ProTax for Intuit. "That's why we've been laser focused on making the things everyone uses faster, easier and more efficient."

The professional tax preparer market is very diverse. As a result, Intuit's line of professional tax solutions range from ProSeries Basic for beginning or part-time tax preparers to ProSeries Professional and Lacerte for seasoned tax professional and accounting firms who provide tax and accounting services year round. Intuit also offers ProSeries Express for tax preparers who have a large client base demanding Refund Anticipation Loan and Refund Transfer alternatives.

New and Improved Tax Line-up

Lacerte:

Specially designed to meet the unique needs of the year-round, multiple person accounting firm that offers a full-range of professional services, Intuit's Lacerte software provides the robust features and functionality these firms need to efficiently manage workflow, increase productivity and ensure accuracy. This season, Lacerte is focused on:

--New Asset Transaction Wizard simplifies complex tasks like like-kind exchange dispositions

--New automated W-2 data entry for improved efficiency

--Client Tracker, Missing Data Utility, Audit Checks and Sticky reminder Notes continue to improve workflow efficiencies

--Integration with E-organizer, Tax Analyzer, Tax Planner and Document Management System support other business functions

--Expanded product library now includes 1120, 1120S, 990 and Massachusetts 1041 e-filing modules and Ohio cities for business modules

Lacerte pricing options make it easy to customize modules to suit the unique needs of its customers. The Lacerte base price starts at $2,140.

ProSeries Professional:

Designed to meet the unique needs of the year-round, sole proprietor/small business that provides tax, accounting and other financial services, ProSeries Professional provides its single and small businesses customers with the tools they need most to get the job done -- in less time -- so they can focus more time on their clients. This professional solution helps the user efficiently prepare, review and file tax returns with confidence. Key highlights include:

--Superior tax and depreciation calculations

--Efficient data entry directly onto forms

--Thorough Final Review and Missing Client Information Tracker

--New print preview, customization and form capabilities

--Improved workflow features to help ensure user is working on the most up-to-date version

--Client Analyzer to help find and identify client groups that may require individual counsel based on changing tax laws, deduction opportunities or future tax planning needs

ProSeries Pro offers several different pricing options to enable customers to select the solution that best fit their needs.

ProSeries Basic:

Designed for the seasonal tax preparer who generally completes an average of 100 returns or less, ProSeries Basic provides a step-by-step guide to help preparers easily and accurately complete simple tax returns. Key highlights include:

--Final Review feature helps preparer thoroughly and quickly check for errors

--New Deduction Finder so nothing is overlooked

--Step-by-step navigation to help ensure complete and accurate returns

--One-click access to help find forms and complete the process

ProSeries Basic is available in four bundles. Prices start at $250.

ProSeries Express:

Ideal for high-volume tax preparers whose clients demand a selection of Refund Anticipation Loan and Refund Transfer option, ProSeries Express is an easy-to-use solution that specializes in preparing 1040 returns in a matter of minutes. This end-to-end solution gives users a competitive advantage by including a wide range of bank products, including Federal RALs, Federal RTs, State RTs and RAL/RT Advances (in-season and early) bank processing products. Product highlights include:

--Complete bank product processing capabilities to ensure fast client refunds and volume rebates for the user (in addition to those offered by their bank)

--Refund Monitor

--Improved network performance, EIN and Zip code databases (automatically pre-fills information) and customized printing options

--Reliable e-file processing

ProSeries Express offers two bundles, including a Three-State Bundle at $795 standalone (or $895 network) and an Unlimited Bundle at $1,395 standalone (or $1,495 network).

Free Online Community for Tax Experts

Intuit also unveiled its new TaxAlmanac.org website, which gives tax professionals a radically new way to research tax laws and share knowledge. The site is free and open to the entire accounting community.

Using wiki-based technology, the site draws on the collective knowledge of the accounting community by allowing tax professionals, legal experts and even academia to contribute or edit articles. Intuit has implemented updates to The Internal Revenue Code and Treasury Regulations and has protected it from edits by others. There are currently nearly 8,000 articles, including the code and regulations available to read.

In addition to the articles, the site contains direct links to third-party articles and tax court cases. Global search capabilities also make it easy for users to quickly research a topic. Users can also set up automatic watch-lists to track certain topics or issues.

The 2005 versions of the ProSeries and Lacerte tax products will allow tax professionals to link to TaxAlmanac.org from within the tax programs, which makes it easier than ever to research tax law and find answers when needed.

Pricing and Additional Information

For more information about any of Intuit's tax solutions, visit accountant.intuit.com. For ProSeries product pricing or to make a purchase, call 1-800-934-1040. Lacerte 2005 is available for pre-order at 1-800-765-7777.

About Intuit Inc.

Intuit Inc. is a leading provider of business and financial management solutions for small- and mid-sized businesses, consumers and accounting professionals. Its flagship products and services, including QuickBooks(R), Quicken(R) and TurboTax(R) software, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries(R) and Lacerte(R) are Intuit's leading tax preparation software suites for professional accountants.

Founded in 1983, Intuit had annual revenue of more than $2 billion in its fiscal year 2005. The company has nearly 7,000 employees with major offices in 13 states across the U.S., and offices in Canada and the United Kingdom. More information can be found at www.Intuit.com.

Intuit, the Intuit logo, QuickBooks, Quicken and TurboTax, ProSeries and Lacerte, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of their respective owners and should be treated as such.

Cautions About Forward-Looking Statements

This press release contains forward-looking statements, including forecasts of our expected financial results. Statements about Intuit's "guidance," statements including words such as "expect," "anticipate" or "believe," and statements in the future tense, are forward-looking statements. Actual results may differ materially from our expressed expectations.