TurboTax is an American tax preparation software package initially developed by Michael A. Chipman of Chipsoft in the mid-1980s. TurboTax became an Intuit product as a result of the 1993 acquisition of its creator, San Diego-based Chipsoft. Chipsoft, now known as Intuit Consumer Tax Group.
Additional meaning of TurboTax:
TurboTax is one of the most popular income tax preparation software packages in the United States