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TaxACT Press Release - October 14, 1999

Prepare Your Taxes for FREE –– With TaxACT ‘99

2nd Story Software announces FREE tax preparation software for 1999 taxes available on the Internet.

Marion, Iowa – 2nd Story Software, Inc. a computer software developer based in Marion, Iowa announces TaxACT ’99 Standard Edition to be made available as a free download on the Internet. The tax software is a full-featured alternative to similar tax packages such as TurboTax by Intuit Inc. (Nasdaq: INTU) and TaxCut by Block Financial (NYSE: HRB) currently available to consumers. The free product contains the most common forms and schedules and calculates returns as data is entered. Users can prepare, print and file paper or e-file returns with TaxACT ‘99.

2nd Story Software’s unique offering, a free tax software program available for download on the Internet, takes advantage of the convenient distribution channel offered by the Internet to market and deliver its product. Consumers can visit the company’s web site, http://www.taxact.com, download TaxACT ’99 directly to their home computer, and have everything they need to complete their 1999 taxes – all at absolutely no charge.

While consumers won’t be able to download the final free product until January 2000, a complimentary Preview Version is available from the web site, allowing users to try the product now. The Preview Version not only gives consumers a feel for how the product works, it can also help them get an early estimate on their 1999 taxes.

“TaxACT gives consumers an affordable alternative to the current selection of higher-priced tax preparation software”, says Lance Dunn, president of 2nd Story Software. We’ve received many letters of thanks for making a FREE tax program available for download. And due to the overwhelming customer response and success of TaxACT, we are continuing to offer our Standard Edition for FREE.”

TaxACT is available for Windows 95 and Windows 98, offering over 80 forms, schedules and worksheets that consumers may need to complete their taxes. The program asks a series of questions necessary to complete the tax forms, then automatically calculates the return based on the users’ answers. Or users may skip the interview and enter directly onto selected forms.

As the return is completed, the program automatically audits the return and alerts the user of missing data. When finished, users can print and mail their own IRS-approved forms and schedules, or they can file their return electronically. Electronic filing cuts down on errors and speeds the processing of returns and refunds. Filing returns electronically will cost users only $7.95 per return.

In addition to the free product, TaxACT is available in a Deluxe Edition, State Editions and a Preparer’s Edition.

TaxACT Deluxe is $9.95 per download. The Deluxe includes the same features as the Standard, plus:

  • TaxACT Accuracy Guarantee. If a user is assessed an IRS penalty due to a calculation error in TaxACT ’99 Deluxe, 2nd Story Software, Inc. will pay the penalty.
  • TaxACT Deluxe allows you to enter an unlimited number of returns.
  • Tax Advisors that pinpoint specific help regarding the tax topic the user is dealing with.
  • Life Events that assist users in determining how major life events impact their taxes, for example getting married, changing jobs or having a child.
  • TaxACT Deluxe imports your data from TaxACT ’98.
  • And more!

TaxACT State Editions are $12.95 per state and are available for all 43 states that hold their hand out for state income tax. Information entered into any of the federal programs automatically transfers into the state forms, so there is no duplication of effort for the user.

TaxACT Preparer’s Edition priced at only $59 is tailored to the needs of professional tax preparers. The Preparer’s Edition includes file management and client management features, such as one location to enter the preparer’s name, client invoicing, mailing labels, and client letters.

More information on 2nd Story Software, Inc. and TaxACT ’99 can be found on the company’s web site, http://www.taxact.com. 2nd Story Software is located at 642 10th Street, Suite 202, Marion, Iowa 52302.