Mountain View, Calif.-based business and financial software company Intuit Inc. said it is facing a number of lawsuits and regulatory inquiries that were filed against the company in May.
According to the company's Form 10-Q, the inquiries are related to the provision and marketing of its free online tax preparation programs.
An earlier report in May said the New York's Department of Financial Services was probing Intuit, H&R Block Inc. and two other tax preparation companies for allegedly hiding their free offerings. This is in violation of an agreement between the tax software industry and the Internal Revenue Service, which requires such entities to submit free tax preparation and filing services to Americans earning less than $66,000 a year.
Intuit said it disagrees with the allegations contained in the complaints and intends to vigorously defend its position against them.