Credit Karma in Talks to Sell Tax-Preparation Business to Square

Terms of the potential deal couldn’t be learned. A sale of the unit would require approval from the Justice Department, which is concerned that bringing together Credit Karma’s small but growing tax-preparation business with industry-leading TurboTax would leave taxpayers with fewer, and potentially pricier, e-filing options, the people said. Credit Karma, best known for its website and app where more than 100 million users look up their credit scores for free, expanded into tax services via a 2016 acquisition.

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