To further help customers and communities overcome their most important financial challenges, Intuit (Nasdaq: INTU), a global technology platform powering TurboTax, QuickBooks, and Mint, today updated Intuit Aid Assist (IAA), a free website with two interactive tools to help eligible small business owners and the self-employed assess their eligibility for federal relief and related tax credits from the Coronavirus Response and Relief Supplemental Appropriations Act. IAA reduces the complex legislation into an easy-to-understand online interview to help assess eligibility and delivers a personalized recommendation.
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For qualified small businesses and other eligible applicants, IAA provides an interactive experience to help small businesses and self-employed individuals determine their eligibility as first time or second time borrowers under the Small Business Administration’s (SBA) Paycheck Protection Program (PPP). The Intuit Aid Assist PPP estimator tool also provides links to SBA resources and additional information to help eligible customers take the next step in applying for federal relief.
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Additionally, IAA includes a tax credit estimator tool that can help businesses identify what savings they may qualify for under the federal tax code. The updated tax credit estimator for 2020 helps businesses navigate the Employee Retention Credit, emergency paid sick leave, and the family and medical leave credit. Intuit will update these IAA tools in the coming weeks with additional information to help small businesses and the self-employed understand what they may be eligible to receive through federal relief programs.
“We know how important small businesses are to America, and understanding these tax credits and loans is critical to helping them make the best decisions, said Sasan Goodarzi, CEO of Intuit. “It has been a challenging year for so many; people are facing uncertainty in the job market while struggling to keep their families safe and their children in virtual school, all while juggling the demands of making ends meet. We are using our robust platform to help customers put more money in their pockets when they need it most, and our small businesses keep their employees on payroll serving their communities.”
