Statement from Samuel Levine, Director Of FTC Bureau Of Consumer Protection, Regarding The Commission's Order And Opinion In The Intuit TurboTax Case
Portfolio Pulse from Benzinga Newsdesk
The FTC has found Intuit Inc. guilty of deceptive advertising for claiming TurboTax was a 'free' service, despite most tax filers being ineligible for the free version. The Commission's order requires Intuit to cease deceptive ads and accurately disclose eligibility for free products. This decision is seen as a victory for consumers and a warning to other businesses about misleading 'free' claims.
January 22, 2024 | 9:11 pm
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Intuit Inc. has been ordered by the FTC to stop deceptive advertising regarding TurboTax's 'free' service and to make clear who is eligible for free products. This ruling may affect Intuit's brand reputation and could lead to financial penalties or increased regulatory scrutiny.
The FTC's ruling directly targets Intuit's advertising practices, which could lead to a negative perception among consumers and potentially impact sales. The requirement to change advertising strategies could also result in additional costs and affect the company's bottom line in the short term.
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