Photo by Kimberly White/Getty Images for TurboTax
Intuit’s $7.1 billion purchase of Credit Karma earlier this year is now subjected to review by the US Department of Justice. The department is concerned about possible antitrust issues if Intuit — owner of TurboTax, QuickBooks, and Mint — is allowed to take over a former rival that offered free tax preparation tools that were directly in competition with Intuit’s own offering, according to a report from ProPublica.
In a memo obtained by ProPublica, the DOJ’s lawyers are apparently concerned about “the influence that Intuit’s purchase of Credit Karma will have on consumer tax preparation platforms and [the] software market.” Currently, the DOJ has requested Intuit and Credit Karma provide more information before it rules on whether to...
from TV Aerial Installation Services Warrington https://www.theverge.com/2020/8/3/21353085/turbotax-intuit-credit-karma-purchase-tax-preparation-services-doj-antitrust
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