Did you use TurboTax in the 2016, 2017 or 2018 tax years? If so, you could be eligible to claim free money.
Intuit, TurboTax's producing software company, agreed to a $141 million settlement on a lawsuit claiming that Intuit promised free tax prep, but actually charged many consumers for the service.
New York Attorney General Letitia James announced the news in a statement on Friday
Here are all the details on the settlement and how you can claim your cash:
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Who can claim money from the TurboTax settlement?
About 4.4 million consumers across the country are eligible for the payment, according to James' statement.
To qualify for a payment, TurboTax customers must have used the product in the 2016, 2017 or 2018 tax years and were also eligible to use an Intuit IRS Free File Product.
Eligible customers must have also begun their tax returns using a TurboTax Free Edition Product, but then have been told that they were ineligible to use that product -- and thus paid for a TurboTax product. Consumers must also have not used the IRS Free File Product in a previous tax year, too.
How do I apply for the TurboTax settlement?
You don't have to.
According to the settlement website, eligible customers will receive an email from the settlement fund administrator. In that email, customers will learn of their payment amount.
If you think you may be eligible, keep an eye on the email you have used for TurboTax.
How much money can I get from the TurboTax settlement?
It could be different for each customer, but it will be based on the number of years you used TurboTax.
According to the settlement website, most eligible users will receive between $29 and $30. Some who filed for all three years (2016, 2017, 2018) could get around $85, per the Attorney General's statement.
The payment is based on the number of years a consumer used the TurboTax product and whether they qualify.
Most consumers will receive between $29 and $30, the site says, although some individuals who filed for all three of the years covered by the settlement could get about $85, the New York Attorney General said.
When will money from the TurboTax settlement be sent out?
Payments will be mailed throughout May, per the settlement website. Customers do not have to pay money or provide any account information to receive their payment.
