Helping Consumers and Small Businesses Access and Navigate U.S. Government Aid and Relief Programs
By partnering with the U.S. government and leveraging our platform capabilities, we’ve launched three new offerings – Intuit Aid Assist, TurboTax Stimulus Registration, and QuickBooks Capital for Paycheck Protection Program – to help consumers and small businesses better understand and potentially access billions of dollars through the recently passed federal aid and relief programs.
Make the most of the federal relief you deserve
Intuit Aid Assist offers free, easy-to-use estimators to help you check your eligibility for federal relief programs, as well as estimate the portion of PPP loan forgiveness, and estimate the amount you may be able to get from new tax credits like Employee Retention Credit (ERC) and paid leave.
Intuit QuickBooks Paycheck Protection Program
QuickBooks created an easy way for small business owners, self-employed individuals, and other eligible applicants to apply for a Paycheck Protection Program loan. The program is part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which offers government-backed loans to help you pay employees and cover certain operating expenses.
Intuit TurboTax Stimulus Payment Registration
A free product designed to help the more than 10 million Americans not required to file a tax return get their stimulus money fast. Users simply answer a few questions and then choose to receive their payment via direct deposit or check.
Helping Customers and Our Community
As the COVID-19 pandemic plays out around the world, consumers, small businesses, self-employed workers and accountants face unprecedented challenges, and these challenges only continue to grow. Many people are struggling to make ends meet and provide for their families. They might be facing a loss of income, a lack of adequate savings to weather the storm or poor access to health care. With shelter-in-place mandates proliferating around the world, small businesses have had to close their doors and are running out of cash to pay their employees and their bills.
To help the communities that need it the most, we are donating funds to support the people served by organizations that are providing relief during this uncertain time - the United Nations COVID-19 Solidarity Response Fund for the World Health Organization and the Centers for Disease Control and Prevention. These funds will work to prevent and stop the spread of the virus, offer healthcare services, and provide critical home supplies like food and medical supplies to quarantined and isolated individuals, especially those who don't have access to adequate healthcare or resources.
Helping Small Businesses
A small business owner described the tough reality he’s facing this way: “We’ve lost 97% of our sales and are struggling to pay our people."
At Intuit, we are deeply moved by these struggles. We know our customers’ pain is real and the challenges they are facing can be difficult. We’re working to provide relief to those who need it most through a set of initiatives that have the potential to generate hundreds of millions of dollars in value for our customers and for people in the communities in which we operate. We are putting an investment of more than $8 million to work in donations, a Small Business Relief Initiative and changes to select QuickBooks offerings.
Intuit QuickBooks is teaming up with GoFundMe to create a Small Business Relief Initiative to help small businesses raise money to overcome the challenges caused by COVID-19. Through this initiative, small businesses can create a fundraiser on the GoFundMe platform where they’re able to share their story with the public and request financial support to help cover employee-related and business expenses. All of us - friends, family, neighbors, customers - can find small businesses in need on the GoFundMe website and donate directly to them. Intuit will provide funds to go directly to small businesses as part of the relief initiative. If we work together this initiative can provide millions of dollars in funding to help small businesses stay in business and save jobs.
And finally, we’re helping QuickBooks customers: QuickBooks Capital customers with upcoming payments and access to funds. Customers who, due to hardship from this pandemic, are struggling to make their loan payment, can receive up to an 8-week deferral on loan payments with no interest charged. QuickBooks Payments customers get access to cash more quickly with our QuickBooks Instant Deposit offering which makes cash available on the same day. We’ll soon be launching a free version of the service that will save customers up to $3 million in fees and provide them with access to a total of $300 million of their payments funds instantly.
Ensuring Health and Safety of Intuit Employees
Intuit’s top priority is ensuring the health and safety of our own workforce and their families across our 19 global sites. In early March, Intuit instituted a company-wide, work-from-home guidance to protect our workforce and do our part in slowing the spread of COVID-19 in order to keep our communities safe. Our work-from-home guidance extends to our 1,200 customer success employees across seven countries and 1,900 partner experts across eight countries -- all with minimal impact to our customers.
In addition, Intuit instituted a temporary time-off benefit for all employees that augments regular leave policies should they need additional time to care for family members impacted by school closures or for times they cannot perform their job remotely during the work-from-home period. And we’re continuing to pay front-line hourly service workers, including our security officers, building operations, mail services team, food service team and other onsite service providers.
To help our employees transition to a new way of working and our people managers to a new way of leading, we are regularly providing easy-to-access resources on working from home, leading virtual teams, keeping kids engaged, and staying physically and emotionally healthy.