NEW YORK, Jan 15, 2026, 11:00 EST — Regular session
- Intuit shares dropped roughly 0.6% in early trading, following a nearly 6% fall the previous day.
- Intuit launched hundreds of in-person tax help sites nationwide, including a flagship TurboTax store in New York.
- Investors are eyeing initial indicators ahead of the U.S. tax filing season kickoff on Jan. 26.
Intuit shares slipped roughly 0.6% to $563.20 Thursday morning, following a sharp nearly 6% plunge Wednesday—their largest single-day percentage drop since April 2025.
The timing coincides with the upcoming U.S. tax-filing season, a key factor for TurboTax demand and its related services. The IRS announced the 2026 filing season will kick off on Jan. 26. Taxpayers will encounter new rules that might affect credits and deductions.
Wall Street is zeroing in on Intuit’s move into “assisted tax”—where paid help involves a human expert, not just DIY filing—and the gains there aren’t easy to nail down fast. Goldman Sachs analyst Gabriela Borges kicked off coverage with a Neutral rating and set a $720 price target, noting she needs clearer proof of market share growth in assisted tax before getting more bullish. Insider Monkey
Intuit announced Thursday the opening of a TurboTax flagship store in New York’s SoHo and rolled out nearly 600 “Expert Office” locations along with 20 TurboTax stores nationwide. The move aims to blend its online tools with face-to-face support. “We are… redefining what it means to get taxes done,” said Mark Notarainni, executive vice president and general manager of Intuit’s consumer group. Intuit Inc.
Intuit’s move into physical locations puts it in direct competition with traditional tax preparers just as the busiest part of tax season kicks off. Shares of H&R Block slipped 2.3% on Wednesday, while Intuit tumbled 6.4%. The declines came amid widespread selling across U.S. equities, according to MarketWatch data.
Intuit slid alongside a broader selloff in software shares this week. After an AI startup showcased new tools on Tuesday, software stocks took a hit—Salesforce plunged over 7%, Adobe dropped more than 5%, and Intuit ended the day down over 4%, Nasdaq.com reports.
The wider market dragged, with tech stocks leading the slide Wednesday as investors moved into safer sectors. “Investors are looking to rotate out of expensive megacaps,” Michael O’Rourke, chief market strategist at JonesTrading, told Reuters. Reuters
Intuit’s in-person rollout targets customers preferring to drop off paperwork or consult face-to-face with an expert, rather than just navigating forms online. The company is also wagering it can grow services without squeezing margins, even as it ramps up staffing and broadens its physical presence.
However, the trade could swing the other way. Should early demand lean more heavily on free options, filers hold off on submitting, or Intuit’s “assisted” strategy struggle to gain ground against established tax preparers, the stock may continue to face downward pressure as tax season kicks off.
Investors are also tracking a closer deadline: Intuit’s investor relations page shows the annual stockholder meeting set for Jan. 22.
Traders are also eyeing early indicators as tax season kicks off on Jan. 26, along with any new analyst updates that might shift forecasts during TurboTax’s peak period.
