Members of Congress call for an investigation into IntuitAfter Sen. Elizabeth Warren (D-Mass.) in an April letter citing OpenSecrets’ reporting on the tax preparation company’s lobbying.
Intuit spent decades lobbying against free government-sponsored tax filing services, and the tax prep company’s lobbying efforts have ramped up significantly in recent years.
Together with its subsidiary Credit Karma, Intuit spent $840,000 during the first quarter of 2022 — more than any prior first quarter.
Even without the $60,000 in spending by Credit Karma, Intuit’s $780,000 in direct first quarter spending is more than the tax prep company has spent in the first quarter of any prior year, up from $650,000 during the same period in 2021 and $750,000 in 2020.
Together with its subsidiary, the company spent almost $3.3 million In 2021. Intuit was the first to surpass $3 million in annual lobbying spending in 2020. $3.4 million.
Following scrutiny of the tax prep company’s lobbying and escalating tensions around its marketing practices, members of Congress are calling for an investigation into what they describe as Intuit’s “revolving door scheme.”
Citing reporting Warren sent an OpenSecrets April email. letter to Intuit CEO Sasan K. Goodarzi in April. Warren accused the company of “extensive lobbying and adroit influence peddling” and requested a response to questions about their activities.
Warren joined the Reps on June 21. Katie Porter (D-Calif. Brad Sherman (D.Calif.) To Send a letter calling on the Acting Treasury Department Inspector General Richard K. Delmar, Treasury Inspector General for Tax Administration J. Russell George and Acting Inspector General at the Federal Trade Commission Andrew Katsaros to mount an in-depth investigation into Intuit’s “use of the revolving door to influence policy decisions” and the “extent to which Intuit — and other Free File Alliance members — have used the revolving door to exert undue influence on department and agency policies, particularly Free File.”
But the lawmakers contend that “Intuit’s response [to the initial letter] was inadequate, failing to dispel any of the concerns about its unethical behavior or to provide information on any employee that had made a trip through the revolving door, despite the extensive reporting on specific egregious cases,” highlighting “troubling reports of Intuit’s abuse of the revolving door and the company’s hiring of former federal regulators and influence-peddlers to defend its shady business practices.”
In the June 21 letter, the lawmakers also asked the inspectors general to “assess whether the codes of conduct and ethics policies of Intuit and other Free File Alliance members are sufficient to prevent conflicts of interest and abuse of the revolving door.”
The tax prep company’s current K Street contingent boasts an impressive slate of “revolving door” lobbyists, with 41 of Intuit’s 55 lobbyists previously holding federal government positions. Intuit spent more than $41 million on lobbying, and enlisted dozens revolving-door lobbyists, including several former members. They also included former Reps. Randy Forbes (R-Va.), Charles Boustany (R-La.), Albert Wynn (D-Md.) Former Sen. Tim Hutchinson (R-Ark.).
Intuit isn’t the only one putting Intuit in hot seats.
In April, the Federal Trade Commission filed a complaint Intuit is accused of misleadingly advertising its paid tax preparation services as a free filing.
On May 4, Intuit announced The company agreed to pay $141 Million in restitution 4.4 million Customers with low income were charged for TurboTax Free Edition.
On June 28, Pomerantz LLP was founded. announced it is investigating Intuit investors’ claims about concerns about Intuit, its officers or directors engaging in “securities fraud or other unlawful business practices.”
