New York, January 27, 2026, 15:34 EST — Regular session ongoing.
Shares of Intuit Inc slipped 2.9% to $545.67 in late afternoon trading on Tuesday, after dipping to an intraday low of $537.35 earlier. Roughly 1.8 million shares changed hands.
The drop coincides with the start of the U.S. tax season, a crucial period for Intuit’s TurboTax and its wider consumer segment. On Monday, the IRS kicked off acceptance and processing of federal individual income tax returns for tax year 2025, anticipating roughly 164 million filings before the April 15 deadline. IRS chief Frank J. Bisignano encouraged taxpayers to “speed the processing” by filing electronically and opting for direct deposit. IRS
Markets are focused on interest rates as the Federal Reserve kicked off its two-day policy meeting Tuesday, wrapping up Wednesday. Most investors anticipate the Fed will keep rates unchanged.
The broader tape showed a mixed picture: the Nasdaq 100-tracking Invesco QQQ climbed roughly 1%, with the S&P 500 ETF SPY inching up slightly. Meanwhile, the Dow-linked DIA dipped. Tax-prep rival H&R Block dropped nearly 2.9%, and payroll giants ADP and Paychex slid between 1% and 1.5%.
Intuit revealed in a Form 8-K filing that its board has approved changes to the compensation program for non-employee directors, effective January 22. At the annual meeting, shareholders re-elected 11 directors, backed an advisory vote on executive compensation, confirmed Ernst & Young as auditor, and turned down a shareholder proposal demanding a report on the ROI of the company’s diversity and inclusion efforts.
The revised plan fixes the annual equity award for a non-employee director at $280,000, delivered as restricted stock units (RSUs) that generally vest over time. It also specifies a $75,000 yearly cash retainer, with extra retainers for the lead independent director and committee positions.
Just a day before, QuickBooks announced a multi-year deal with background-check company Checkr, integrating their screening tools directly into QuickBooks Online Payroll and the Intuit Enterprise Suite. “Growing businesses want tools that work together seamlessly,” said Olivier Bartholot, vice president and segment leader for Intuit Workforce Solutions, according to the release. QuickBooks
For investors, these product updates carry more weight as indicators of customer loyalty than as isolated news. Intuit continues to push its all-in-one solution, covering payroll, hiring, compliance, and, for many users, tax preparation.
Tax filing plays by different rules. How quickly refunds arrive and the ease of the season often sway opinions on consumer tax software, even when the actual numbers come in down the line.
Early-season headlines are a mixed bag. Delays in refunds, policy hurdles, or weaker-than-expected small-business hiring could weigh on confidence in payroll and HR add-on services.
Wednesday’s Fed decision is shaping up as the next major event. The central bank will announce its rate move at 2 p.m. Eastern, with Chair Jerome Powell speaking at 2:30 p.m. Stephen Kates, a financial analyst at Bankrate, told CBS, “It’s appropriate that they take a little bit of a beat to digest the information.” cbsnews.com
