RECENT POSTS
- Mark Mahaney Talks Akamai, Groupon, Yahoo ...
- iPad 3, iTV and iPhone 5 Should Drive Apple to $665: Money Pros
- Options Trader Scores Big on Diamond Foods Selloff
- Top Fashion Stocks for 2012
- Your First Move For Thursday February 9th
- Pros Bullish On Visa, Even After It Hits a New High
- Semantics Suggest Higher Bid Ahead for Illumina: Finerman
- Premium Commanded by Whole Foods Ridiculous, or Surprisingly Modest?
FAST MONEY FEATURES
FAST MONEY POLLGet in the post game. Respond to our "Question of the Day" right now.
FULL SHOWSMissed an episode of Fast Money? Watch the latest show here.
HEDGE FUND TRADE OF THE WEEKWhich names are generating the most chatter across the hedge fund community this week?
CALL TO THE FLOOR | CEO EXTRACheck out our library of CEO interviews; conversations from TV as well as web exclusives.
TRADE SCHOOLGrab a pencil because school is in session and the Fast Money traders are teaching class.
FAST MONEY PODCASTS
Download Fast Money onto your MP3 Player.
FAST MONEY WIDGETGrab this all-in-one application and get recaps of the show sent right to your desktop or blog.
SHOP FOR FAST MONEY MERCHANDISEGet your game on with Fast Money gear.
FAST MONEY SLIDESHOWS!Check out our scrapbook. These "pix" are guaranteed winners.
NEWSLETTERSign up for our daily newsletter!
FAST MONEY MOBILE ALERTSGet advanced information about the next Fast Money.
Text Size 
BEHIND THE MONEY: TurboTax-Maker Intuit Takes Hit on Geithner Admission
Shares of Inuit [INTU
Loading...
()
] fell to their low on the day on strong volume after Treasury Secretary nominee Timothy Geithner reluctantly admitted during testimony before the Senate Finance Committee that he used the company's TurboTax software to prepare his returns.
Here was the interaction between Geithner and Sen. Chuck Grassley:
Sen. Grassley: Did you use software to prepare your 2001 and 2002 tax returns?
Geithner: I did
Sen. Grassley: You Didn't?
Geithner: No, I did
Sen.Grassley: Which brand did you use?
Geithner: I'll answer that question, but I will say these are my responsibilities, not the tax software's responsibilities, but I used TurboTax to prepare my returns.
The chamber crowd laughed out loud to Geithner's response, but it was no laughing matter for Intuit. The Treasury nominee admitted to making "careless mistakes" when preparing his tax return, apparently using the software. Geithner failed to pay $34,000 in Social Security and Medicare taxes earlier in 2001 and 2002.
Intuit shares have since rebounded off their lows, proving that any press may indeed be good press for the company.
John Melloy is the Senior Editorial Producer for Fast Money. Before joining CNBC, he was an editor for Bloomberg News, overseeing the U.S. Stock Market coverage team.______________________________________________________
Got something to say? Send us an e-mail at and your comment might be posted on the Rapid Recap! If you'd prefer to make a comment but not have it published on our website send your message to .
Data is a real-time snapshot *Data is delayed at least 15 minutes
