After Tim Geithner explained yesterday how his sloppy use of TurboTax was to blame for his improper tax filings, software maker Intuit (INTU) actually felt compelled to come out with a statement in response:
“Each year, millions of Americans use TurboTax to accurately prepare and file their federal and state tax returns. The software helps taxpayers report their income and find the deductions and credits they’re entitled to claim.
“TurboTax, and all software and in-person tax preparation services, base their calculations on the information users provide when completing their returns. TurboTax also has built-in error-checking tools that routinely catch common taxpayer mistakes.
The stock bounced around yesterday, but didn’t seem to be affected much by the testimony one way or another. We’re not surprised they did damage control, given that it’s about to be tax season and millions of Americans are hoping to one day be Treasury Secretaries and they don’t want to be disqualified.
(Via Megan McArdle)