Intuit CFO warns against isolationism, defends H-1B visas
MOUNTAIN VIEW, CALIFORNIA - NOVEMBER 28: A sign is posted on the exterior of a building at Intuit headquarters on November 28, 2023 in Mountain View, California. Tax-preparation software company Intuit reported first quarter earnings that beat analyst expectations with revenue of $2.98 billion compared to the expected $2.87 billion. (Photo by Justin Sullivan/Getty Images) ·CFO Dive·Justin Sullivan via Getty Images
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Intuit CFO Sandeep Aujla threw his support behind the H-1B visa program and pushed back against a protectionist view of the skilled labor market in a recent wide-ranging interview with CFO Dive.
“What the H-1B visa allows us to do is continue to invest in the resources in the U.S., as we do, but also have access to global talent,” Aujla said on Jan. 7. “It’s to make sure that we don't become isolationist as a country when it comes to access to global talent,” he added, noting that he hopes President-elect Donald Trump’s incoming administration will continue to lean into the program.
The visa program — which allows U.S. employers to employ foreign workers in specialty occupations — has sparked controversy in recent weeks, with critics arguing that it deprioritizes American workers and suppresses wages. Proponents, meanwhile, maintain that the program ensures companies can continue to access a skilled labor pool — wherever the talent is located.
With a view of both talent and software as global, Mountain View, California-based Intuit, a tax preparation and accounting software company, is among the many Silicon Valley companies that use the program to help bring skilled talent to the U.S.
Between Aug. 1, 2023 and July 31, 2024, Intuit filed 716 H-1B petitions, of which nearly all (715) were approved and 1 was denied, the company told CFO Dive. The total includes new H-1Bs counted against the annual cap, along with H-1B transfer and extension petitions. The congressionally mandated H-1B cap, or limit, is 65,000, along with an additional 20,000 visas allocated to individuals who earned a U.S. master’s degree or higher.
Visas spark MAGA backlash
The H-1B visa program recently sparked a heated debate on social media among key backers of President-elect Trump, with the proposed Department of Government Efficiency (DOGE) co-leads Elon Musk and Vivek Ramaswamy voicing support for it. Meanwhile, some conservatives, including former South Carolina governor and former presidential candidate Nikki Haley, rallied against hiring workers from outside the U.S.
“We should be investing and prioritizing in Americans, not foreign workers,” Haley wrote in an X post late last month.
Aujla’s views appear to roughly align with those of Musk, who recently suggested the program is a key tool for hiring critical engineering talent.
“OF COURSE my companies and I would prefer to hire Americans and we DO, as that is MUCH easier than going through the incredibly painful and slow work visa process,” Musk posted on X on Dec. 25. “HOWEVER, there is a dire shortage of extremely talented and motivated engineers in America.”
Prepping for the Trump administration
Asked about the company’s broader approach to preparing for the incoming administration, Aujla said Intuit has long worked with both political parties.
“We have a long history of being bipartisan, and our focus remains on the policies that matter most to our customers, who are consumers and entrepreneurs,” he said.
Contributions by the Intuit Inc. 21st Century Leadership Fund (Intuit’s affiliated PAC) are almost evenly split between Republicans and Democrats, with about 49.6% of all contributions during the period allocated to Democratic recipients, and 50.4% of contributions going to Republicans. Federal and state contributions in 2023 and 2024 were similarly spread out, with 49% going to Democrats and 51% going to Republicans, the company told CFO Dive.
A good shot
Aujla’s comments come as companies are extending overtures to the incoming Trump administration. Intuit is one of many Big Tech firms, such as Amazon and Meta, contributing to Trump’s second inaugural fund, according to The Wall Street Journal. Intuit contributed $1 million to the fund.
“Intuit is committed to ensuring our customers’ voices are heard on important issues, and our expanded participation in the democratic process reflects our growth as a company and the variety of policy issues that impact the approximately 100 million diverse consumers and businesses we serve,” the company said in a statement.
Tech firms are courting the incoming administration because they believe they have an opportunity to influence the course of immigration reform, including the future of the H1-B program, said Chirag Mehta, vice president and principal analyst at Constellation Research.
“They have a very good shot at lobbying [for] H1-B reforms. There are quite a few ideas being pitched,” he said.
Hurdles with the program, from a CFO’s perspective, include the annual limit of 85,000 H1-B visas and the lottery system for selecting successful candidates, he said.
“Even if you can find talent, there are a whole bunch of challenges,” including the risk of paying legal and filing fees with an uncertain likelihood of success, along with the complexity of transitioning H1-B employees to permanent resident status, he added.
Competition from free tax prep
The maker of TurboTax and one of the largest players in the tax preparation software market, Intuit is also facing some changes in the sector.
Amid reports that the incoming Trump administration is considering creating a new free tax filing app, Aujla said he was not concerned about potential competition, pointing out that a new free platform from the government won’t affect demand for Intuit’s TurboTax products. But the government’s efforts would be better directed towards making tax filing easier, he said.
“There are a plethora of free offerings in the marketplace. The government entering this space and coming up with yet another free offering is not going to change the landscape,” he said. “I would say that's not an area where the government needs to expend much energy. Where we would love the government to expend energy is to make the taxes simpler.”
The company has historically butted heads with free tax-filing programs offered by the government, lobbying against Direct File, an in-house free filing tool offered by the IRS, according to a Reuters report.
In a statement shared with CFO Dive Friday, a company spokesperson was critical of the IRS offering. “IRS Direct File is a solution in search of a problem and that solution will unnecessarily cost hard-working Americans billions of dollars for something that already exists,” said Derrick Plummer, director of corporate communications at Intuit.
Direct File began as a pilot in 2024 and will be expanded to 25 states for the 2025 tax season, according to a Jan. 10 IRS release. Intuit was previously a part of Free File, a program that allows taxpayers to file their taxes for free through partner firms, since 2003, but exited the program in July 2021.
Looking ahead, Aujla would prefer to work with the incoming administration on simplifying the tax code to improve the experience of filers, he said.
“Our focus is on, on the consumer side, helping [consumers] get access to their biggest paycheck of the year, which for many, is their tax refund,” Aujla said. “Let's help the consumer get access to the money the fastest way possible.”
