First Hands-On Tax Simulation for Students Builds Healthy Financial Habits and Eliminates Fear of Taxes

Social impact education innovator, EVERFI, Inc., and Intuit Inc. ((Nasdaq: INTU), a global technology leader and maker of TurboTax, QuickBooks, and Mint, have joined forces to empower future generations by providing critical financial and tax education to students nationwide through a first-of-its-kind digital tax simulation available to high schools at no cost.

Many young adults enter the workplace feeling uncertain and unprepared financially, especially when it comes to their taxes. In an effort to advance equity and access to critical financial education, the new Intuit TurboTax simulation will be integrated into EVERFI’s extensive catalog of high school financial wellness programs with a particular focus on reaching schools and students in low- to moderate-income communities.

“It’s time to reimagine our national system of education and ensure that we are empowering students with the critical skills they need to be successful in life,” said Ray Martinez, president and co-founder of EVERFI, Inc. “There are a number of day-to-day practical skills that students must learn before moving on to college or the workforce. We applaud Intuit for recognizing the importance of ensuring that this education gets into the hands of all high school students, no matter where they live.”

Students using the program will explore tax basics, learn how taxes are calculated, and experience the tax preparation and filing process. The TurboTax simulation will guide students in a fun and engaging way, so they can enter the workforce feeling confident and empowered.

The new TurboTax simulation will be available to high schools beginning in the fall of 2021. EVERFI’s on-the-ground implementation team will work directly with school districts, schools, and teachers to activate this simulation across the country and is expected to reach more than three million students nationwide.

“We know how common it is for Americans to find themselves in a financial hole, that’s why we believe we have an important role to play in elevating society and providing opportunities for all to advance,” said Greg Johnson, general manager and senior vice president at Intuit. “Our work with EVERFI will help the next generation understand their finances, starting with their taxes, and grow accustomed to the tools, products, and resources available to them. We believe that it is important to learn these important financial lessons in schools as it helps build critical foundations for life.”

EVERFI’s financial wellness courses are developed with both students and teachers in mind to deliver effective instruction in both live and virtual learning models. Through story-based narratives and interactive exercises, students learn to make real-life decisions about their personal finances, as well as how to achieve important goals around saving money, higher education and career planning, budgeting, and now tax preparation. EVERFI’s courses are designed using Bloom’s taxonomy framework of hierarchical learning and assessment and are aligned with Jump$tart Coalition’s National Standards for K-12 Personal Finance Education.

EVERFI and Intuit are committed to empowering local economies by preparing students for jobs in the future and providing them with the tools and education necessary to drive ecosystems of change. This strategic partnership aligns with Intuit’s existing Prosperity Hub School District program, which focuses on building critical 21st century skills that students need to prepare for jobs in the future and increasing access to entrepreneurship and personal finance education.