Intuit settles with 50 state AGs for $141M over free tax prep ads

INTUIT INC.

Intuit agreed to pay $141 million to resolve state inquiry into advertising practices for free tax preparation.
Settlement with 50 state attorneys general and District of Columbia; Intuit admits no wrongdoing.
One-time charge recorded in Q2 FY2022 ending April 30, 2022; not included in prior guidance.
Company expects minimal business impact from advertising practice commitments; already adheres to most.

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