TaxACT's easy Q&A format and expert tools make tax planning and preparation easy for all taxpayers.
Cedar Rapids, IA - October 2, 2014 - TaxACT®, the critically acclaimed leader of digital and download tax preparation solutions, has released tax year 2014 federal solutions. With all e-fileable forms, TaxACT is the only year-round DIY tax planning and preparation solution that's free for all consumers.
Taxpayers can easily calculate their 2014 tax refund or amount owed for free with TaxACT. The straightforward Q&A format in its Free Federal and Deluxe Editions covers the latest tax law changes plus hundreds of credits and deductions.
"The idea that only tax experts are qualified to do year-end tax planning is a myth," said TaxACT President JoAnn Kintzel. "Even if you know little or nothing about taxes, TaxACT gives you the tools to confidently navigate your taxes. Answer simple questions about your income and expenses for 2014, and TaxACT will calculate your refund as it currently stands and show you where you could potentially increase it."
Preview your refund or liability amount to budget ahead
After importing last year's tax return or quickly entering basic information, TaxACT explains how life changes such as marriage, graduating from college and buying a house may impact your taxes.
From there, the Q&A interview reviews the latest tax law changes, credits and deductions to help maximize your refund or minimize the amount owed.
For taxpayers who want to adjust their withholding for the remainder of 2014, TaxACT's withholding calculator will figure the new amounts and prepare a new Form W-4.
Expert tax guidance for the Affordable Care Act
The 2014 program includes all tax law changes related to the Affordable Care Act. While the insurance mandate means little to no change for most Americans' 2014 tax returns, TaxACT offers easy guidance for those who are impacted.
If you purchased coverage from a government-sponsored marketplace or were uninsured for more than three months in 2014, TaxACT translates the advanced premium tax credit, exemptions and the individual shared responsibility payment into simple questions.
TaxACT also offers guidance to help Americans make health insurance decisions for 2015. The HealthWatch report includes calculations and tax information to help consumers apply for coverage in marketplaces.
Taxpayers who want more information can download a free year-by-year guide to the tax implications of the ACA at HealthcareACT.com, powered by TaxACT.
Centralized accounts and a cleaner design
Starting this year, TaxACT Online customers can manage their returns and information from one secure account, accessible through any Web browser on any device. From My Account, you can access all 2014 and future tax returns, see the status of returns and federal refunds after e-filing, and update your account information.
My Account will also integrate with TaxACT's mobile apps. The Donation Assistant® app for tracking charitable donations will become the first integrated app in the coming weeks.
To make navigation easier and tax preparation faster, all TaxACT 2014 consumer products have been updated with a cleaner, simpler interface.
Other DIY brands require taxpayers with complicated situations to upgrade to higher priced products. TaxACT Free Federal and Deluxe Editions include all e-fileable IRS forms – twice as many forms as other solutions.
It's always free to prepare, print and e-file federal taxes with Free Edition. TaxACT Online Deluxe ($12.99) and State ($14.99 with Free Edition, $5 with Deluxe) lead in value, with low pricing guaranteed, regardless of when users file. Payment isn't required until viewing completed forms, printing, e-filing or redeeming Deluxe phone help.
Consumers can e-file starting in early January when TaxACT is updated with any last-minute tax law changes and final tax forms. TaxACT will submit returns to the IRS and state agencies as soon as possible in mid to late January.
TaxACT's tablet and smartphone apps for filing 1040 tax returns will be released soon.
New DIY solution for Estates & Trusts tax returns
Taxpayers can now file Form 1041 returns easily and affordably with TaxACT Estates & Trusts. The program utilizes the same Q&A format of TaxACT's other solutions to simplify allocating income, deductions, and credits to beneficiaries, and issuing Schedule K-1s necessary for beneficiaries' tax returns.
Introductory pricing for the online and download Estates & Trusts solutions is $29.99 per federal return and $14.99 per state return with free e-file.
TaxACT is the critically acclaimed leader of affordable digital and download tax preparation solutions for consumers, business owners and tax professionals. TaxACT is the second-most visited online tax preparation destination1. In the 2005 tax season, TaxACT became the first to offer free federal tax software and e-file to all U.S. taxpayers. Since 2000, TaxACT has assisted with nearly 53 million e-filed federal returns. TaxACT is a business of Blucora, Inc. (NASDAQ: BCOR). Learn more about TaxACT at www.taxact.com and www.taxact.com/press.
TaxACT Public Relations
1 According to collective week end reports for taxact.com and taxactonline.com released by Hitwise™ during the 2013 tax season.