SAN FRANCISCO, Dec. 7, 2016 /PRNewswire/ -- Credit Karma today introduced Credit Karma Tax™, its new online self-directed tax preparation service. Credit Karma Tax provides always-free federal and state tax preparation, along with free e-filing, for its members. This announcement coincides with a new look and feel for the company.
"Today almost half of all Americans can't afford a $400 financial emergency, yet many spend more than $70 — and in many cases, far more — just to prepare and file their taxes. That shouldn't be the case," said Credit Karma Founder and CEO Kenneth Lin. "Just as we've done by providing free credit scores, credit reports and credit monitoring, Credit Karma Tax will help people make financial progress, without any trial periods, hidden fees or gimmicks."
Nearly every American adult must prepare and file a tax return each year. While many companies currently advertise free tax preparation, consumers often find that they have to pay to finish or to file their state returns online. As with Credit Karma's current features and tools, no credit card is ever required to use Credit Karma Tax.
Credit Karma Tax will launch for the 2017 tax filing season. The service will be available to U.S. consumers.
In 2016 Credit Karma entered the more than $2 billion online tax preparation industry with its acquisition of AFJC Corporation, a provider of online tax preparation, filing solutions and related services for individuals, certified tax preparers, financial institutions and affinity marketers. AFJC Corporation operated the online self-directed tax preparation and filing service, OnePriceTaxes, and Tax Preparer Solutions, a provider of co-branded and private-label online tax preparation and filing services.
The new brand identity was inspired by the personal finance company's goal to make finance simpler, approachable and more human. "We wanted to signal to our members that we plan to do more and more for them in the future," said Lin. "We'll continue to add tools and features that will make Credit Karma more of a personal assistant for finance."
Credit Karma is one of the most trusted financial services companies in the world. Founded in 2007, Credit Karma is best known for providing over one billion free credit scores to its members. The company has since become a financial assistant for consumers, proactively identifying opportunities to help people make the most of their money.
About Credit Karma
Founded in 2007, Credit Karma is a personal finance company that's focused on helping everyone make financial progress. Whether they're interested in getting a better deal on a loan, looking for ways to save, or simply monitoring their credit, we offer a range of tools and personalized recommendations designed to help them make the most of their money. Our business model is unique in that no matter what new products or services we introduce, we're committed to providing a service that's always free. With more than 60 million members, we help people gain insight into their finances and credit information – and ultimately, improve their financial standing.
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SOURCE Credit Karma