Intuit Inc. said Friday that it expects to delay about $40 million to $60 million of revenue involved in tax return processing delays by the Internal Revenue Service.
The Mountain View, Calif., provider of banking and tax software said, however, it does not expect the revenue shift to its third fiscal quarter, which ends April 30, to affect total revenue for the fiscal year ending July 31. The IRS last month said it may have to delay accepting tax returns for individuals affected by the reinstatement of certain deductions that were made law by Congress.
Intuit makes TurboTax tax-preparation software and sells online banking systems to banks. In November, it said it expected its fiscal second-quarter revenue to range from $920 million to $940 million.
