Intuit Profit Down 40 Percent as Tax Season Delayed
Intuit Inc.’s fiscal second-quarter profit fell 40 percent as the financial software provider grappled with a later-than-expected start to the 2013 tax filing season.
The Internal Revenue Service didn’t open this year’s tax-filing season until Jan. 30, about a week later than expected. The delay was because of last-minute system adjustments made necessary after U.S. policymakers struck a deal to avert the so-called fiscal cliff of tax increases and spending cuts.
