Intuit Inc

Taxpayers who couldn't electronically file last-minute returns using Intuit Inc.'s TurboTax, ProSeries and other software won't be penalized for delays caused by the company's overtaxed servers, the IRS said. A record number of returns from individual taxpayers and accountants choked the Mountain View, Calif.-based company's computers Tuesday, leading to delays in customers receiving confirmation that their returns had been submitted successfully, Intuit spokeswoman Julie Miller said.

Questions about improperly dated stock options widened Friday as Bay Area software makers McAfee Inc. and Intuit Inc. said their option practices were being investigated by the federal government. Media reports about the spreading probe prompted the California Public Employees' Retirement System to demand that 25 companies, including UnitedHealth Group Inc. and Comverse Technology Inc., start investigations into whether they backdated stock options granted to top executives.

Intuit Inc., a maker of financial software, narrowed its fiscal fourth-quarter loss from a year earlier, helped by strong performance from its TurboTax business. Intuit issued a mixed forecast for the new fiscal year, estimating that its profit could be below the current average of analysts' estimates on stronger-than-anticipated revenue. The Mountain View, Calif.-based company said Tuesday that it lost $18.9 million, or 6 cents a share, on revenue of $342.9 million in its quarter ended July 31.

Financial software giant Intuit Inc. will buy online banking provider Digital Insight in a $1.35-billion deal designed to strengthen offerings to small businesses. The acquisition, announced Thursday, combines Intuit's financial management software -- including TurboTax and Quicken -- with Calabasas-based Insight's online banking services. "Online banking is growing rapidly, but today's solutions don't meet the needs of most small businesses," Digital Insight Chairman Jeffrey Stiefler said.

H&R Block Inc. and Intuit Inc. have settled litigation over television ads for tax preparation software. The nature of the settlement, announced this week in papers filed with the federal court in Kansas City, is not being disclosed, an H&R Block spokesman said. A spokesman for Mountain View, Calif.-based Intuit, maker of TurboTax software, didn't immediately return a phone call seeking comment.

Financial software giant Intuit Inc. said Thursday that it would buy Electronic Clearing House Inc., a payment processing company, in a deal worth $142 million. It is the second acquisition in less than three weeks for Mountain View, Calif.-based Intuit, which makes Turbo Tax and QuickBooks software. Electronic Clearing House Inc., based in Camarillo, provides check and bank card processing services for banks, collection agencies and retailers.

A new anti-piracy feature on Intuit Inc.'s popular TurboTax software has triggered a consumer backlash. Intuit says the criticism stems from misconceptions about the product activation code, which customers must obtain to use the tax preparation software. The activation code essentially ties the software to a single computer to prevent buyers from sharing. Customers can use TurboTax on other computers, but printing and electronic filing of tax returns must be done from the original computer.

Intuit Inc. cut its sales and profit forecasts for its fiscal third quarter and the year, saying the slumping economy hurt its main sales season. Revenue this year is expected to rise to $1.65 billion to $1.69 billion, Intuit said. Profit, excluding certain costs, could increase to $1.30 to $1.35 a share. The firm had forecast profit of $1.38 to $1.42 on sales of $1.71 billion to $1.77 billion. Profit per share, excluding some costs, is expected to be $1 to $1.

Financial software maker Intuit Inc. said its fiscal fourth-quarter loss narrowed during a traditionally sluggish sales period but warned that its financial strides during the next few months probably would not be as great as analysts had hoped. The Mountain View, Calif.-based maker of TurboTax and Quicken lost $24.7 million, or 12 cents a share, for the period ended July 31. That represented an improvement over a loss of $31.8 million, or 15 cents, the same time last year.