TaxACT 2011 guides users to maximum tax savings faster

Cedar Rapids, IAJanuary 5, 2012 – Final Versions of TaxACT 2011, released today by 2nd Story Software®, give everyone easy yet affordable tax preparation, filing and maximum refund solutions.

"We've made it easier for taxpayers to do their taxes, from start to refund," said 2nd Story Software CEO Lance Dunn. "TaxACT has eliminated the hassle of switching software solutions and high costs of storefront preparation."

In addition to offering download and Web solutions, everyone can now prepare and e-file federal and state 1040 returns on the iPad® with TaxACT Online Free Federal, Deluxe and State Editions. TaxACT is also available in hundreds of retail locations across the country this year.

Regardless of how users did their taxes last year, key data from last year's return can be quickly transferred to this year's return. Deluxe users can import last year's TaxACT return, and new users switching from 11 other solutions can import a PDF of last year's return. All new users who don't import can quickly bring in last year's information with new Quick Convert™ in Free Edition and Deluxe.

TaxACT includes the tools and guidance users need to confidently do their own taxes. The step-by-step interview covers the latest tax law changes with results backed by TaxACT's Maximum Refund Pledge and Accuracy Guarantee. Free personalized help is always just a click away. The Answer Center, with more robust search capabilities, provides immediate answers. All customers can also email tax and technical questions directly to TaxACT's knowledgeable and trained specialists for free. TaxACT has also extended its offer for free phone support with paid products. Customers who register for or order Deluxe, Ultimate Bundle (Deluxe + State), State or Business products will receive unlimited phone help for the entire 2011 tax year upon product payment. Free Edition users can purchase unlimited phone help for the tax year for a low one-time fee of $7.95.

Users who e-file can now check the status of their federal and state returns 24/7 at www.taxact.com, TaxACT's mobile site at m.taxact.com and on their mobile phones with new TaxACT Central™. The free companion application is available for the iPhone®, iPod® Touch and Android™ phone. The free app includes other tools and resources for use before, during and after doing your taxes with TaxACT.

TaxACT customers have several fast and convenient refund options. Free federal e-filing means users can have their refund direct deposited in as fast as 7 days. Refunds can also be issued on a TaxACT Endeavor Card® Prepaid MasterCard© debit card. Plus, customers can deduct TaxACT product fees from their refund and purchase U.S. Savings Bonds in $50 increments.

The lack of restrictions and its coverage of complex returns continue to set TaxACT Free Federal Edition apart. Many free federal solutions and mobile applications only cover simple returns, such as Form 1040EZ. According to the IRS 2009 Estimated Data Line Counts Individual Income Tax Returns, only 11.4% of 2009 e-filed federal returns were 1040EZs. TaxACT is the most complete free solution for both simple and complex returns that also includes personalized tax help for free by email.

"TaxACT Free Federal Edition is the only free federal solution that includes all e-fileable forms, including the required forms and schedules for self-employment, business, investment and rental property income," said Dunn.

Use of all TaxACT products is risk-free, and its affordable paid products include money-back and price guarantees. TaxACT Online's Price Lock Guarantee promises customers the price advertised in the offer through which they registered, even if prices increase. Moreover, TaxACT Online Deluxe and State users aren't required to pay until they print, e-file, view PDFs of tax forms or redeem phone support.

TaxACT products

TaxACT Free Edition allows everyone – regardless of age, income, state of residence, military status – to prepare, print and e-file a federal return free with features included in other paid solutions. Features include:

  • All e-fileable forms, schedules and worksheets required for simple and complex returns
  • New Quick Convert and PDF import options for bringing in data from last year's return
  • Free tax and technical help in the enhanced Answer Center and via email
  • Compatibility with new TaxACT Central, the free companion mobile app for use before, during and after using TaxACT
  • New iPad compatibility for TaxACT Online Free Edition
  • Maximum refund, accuracy and satisfaction guarantees
  • Enhanced Bookmarks for easy navigation with the option to personalize
  • Life Event guidance for one event
  • Stock Assistant for easy entry of investment data
  • Enhanced tax glossary of nearly 300 terms
  • Report with all necessary tax data required for the FAFSA

Free Edition users can add a state return for just $14.95, less than half the price of other state solutions. Online State users receive a free e-file; download users can e-file for just $7.95 per return (fees do not apply to NY returns).

TaxACT Deluxe is recommended for returning customers who want to import last year's TaxACT return, as well as those who want extra tax tools and help. In addition to all features in Free Edition, Deluxe includes:

  • Donation Assistant with audit-backed values for over 1,300 items
  • Life Events and Tips throughout the interview for over 35 life changes
  • New Education and Retirement Guides with money-saving tax information, tips and examples
  • Extended! Free unlimited tax and technical help by phone upon product payment
  • Stock Import for investment data
  • Capital gains and depreciation summaries
  • As-you-go access to PDFs of tax forms upon product payment
  • Tax Calculator shows how changes can impact 2011, 2012 and 2013 returns
  • Report to help married taxpayers determine whether filing separately or jointly is more beneficial
  • TaxWatch to help lower 2012 taxes

Online Deluxe users can add a state return with free e-file for just $8 (the same total price for Online Ultimate Bundle, which includes Deluxe and State for $17.95). Desktop Deluxe users can save over 20% on Deluxe and State by purchasing TaxACT Ultimate Bundle for $21.95. Desktop users can prepare and print unlimited returns and e-file their first federal return free; up to four additional federal returns and state returns can be e-filed for $7.95 each.

About 2nd Story Software and TaxACT

2nd Story Software, the makers of TaxACT, is a privately held company founded in 1998 and critically acclaimed as a leader in developing affordable tax preparation software and Web-based services directly for consumers, business owners and tax professionals.

TaxACT has been the 2nd most visited online destination for tax preparation services for the past six consecutive years*. Since 2000, TaxACT Online has assisted with more than 20 million e-filed federal returns. TaxACT is 100% made and supported in the U.S.

Learn more about TaxACT at www.taxact.com and in the Press Center at www.taxact.com/press.

* According to collective week end reports for taxact.com and taxactonline.com released by Hitwise™ during the 2005, 2006, 2007, 2008, 2009 and 2010 tax seasons.