When I started Credit Karma in 2007, I felt every one of us should be able to access our credit information for free. Credit card, loan and insurance providers all use credit scores to help them determine what products they provide us. But accessing your credit wasn’t really free. You could get your score, but not your report. Or it was available from only one bureau or once per year. Often people were duped into paying for a monthly subscription service while trying to access their “free credit score.” It’s a sad truth, but credit wasn’t really free until we launched Credit Karma and made credit scores and reports free. To the over 60 million Americans who use Credit Karma already, thank you. And I’m happy to say we’re doing it again, this time for your taxes.
Today, we feel that filing tax returns is a lot like accessing credit information was in 2007. We need to file our taxes like we need access to our credit information. We all know on or around April 15 taxes are due and increasingly many of you are using software to avoid filling out forms manually or using a professional. Yet many of those products claim to be free, until you get a bill for $35 or $70 or more.
We are going to change tax filing like we changed credit. Starting in January, you won’t have to pay to file your taxes. Today we are launching Credit Karma Tax, an easy tax solution that most Americans can use to file their federal and state taxes. We don’t have a paid version of our product nor are there confusing packages or versions to trick you into paying. It’s just one simple and truly free solution. And over time, we believe the integrations and insights will make your taxes even easier.
How can we afford to do this? Our mission is to make financial progress possible for everyone. By better understanding your credit and your taxes, Credit Karma can become your financial assistant. We can monitor your credit, advise you on how to make good financial decisions and suggest better cards, loans and insurance products for you. If you like a recommendation and choose a new product on Credit Karma, we usually get paid. There is never an obligation to take our recommendations. We think this is far better for you than having you pay for our software.
Sign up for Credit Karma Tax here. You’ll be one of the first to use Credit Karma Tax when it goes live in January. Consider it a holiday gift from us starting this year and every year.
Founder & CEO, Credit Karma