A large percentage of taxpayers assume that there is no need to perform an early analysis to forecast their tax situation if their tax withholdings and liabilities will closely match those of the prior tax year. But changes in your personal circumstances can make a big difference in your tax liability and should prompt a fresh look at your withholding rate
Cedar Rapids, IA (PRWEB) October 14, 2005
2nd Story Software®, Inc., developers of America’s most trusted value-priced tax preparation software, announces the release of its latest TaxACT® Preview software and, for the second year, TaxACT Online Preview – an intelligent environment designed to help taxpayers simplify the complexities of devising an effective tax-savings strategy.
Available today, consumers can log on to TaxACT.com where they can choose the platform that best suits their needs: TaxACT Online (over-the-Web) or TaxACT software (a download file that installs to their hard drive). Both platforms enable their users to perform an end-of-the-year checkup, thus, helping to minimize the amount paid into taxes and maximize personal savings.
This innovative and powerful tax planning service provides an easy-to-use interview format that helps taxpayers conduct careful analysis of their tax situation. Visitors need only complete the site’s free online registration to gain full access to its host of planning forms, schedules, worksheets, calculators, and various support systems that reflect the most up-to-date laws and calculations.
Once registered, visitors can use TaxACT Online’s Standard or Deluxe Editions at no-cost to generate a forecasted federal income tax refund or liability amount – providing users with valuable insight into their current tax situation. Deluxe Preview users can experience the benefits that TaxACT’s premium service has to offer, including having access to features such as: additional forms and calculators; America’s all-time best selling tax guide, J.K. Lasser’s™ Your Income Tax Guide by John Wiley & Sons, Inc.; and, other context-sensitive, line-by-line help tips that provide insight to complex tax laws, planning opportunities, and potential pitfalls to avoid based on recent tax law changes and pending legislation before Congress. Plus, Deluxe Preview outlines tax saving strategies tailored to each user’s unique tax situation, which they can implement prior to the end of the tax year to save money on their taxes.
“A large percentage of taxpayers assume that there is no need to perform an early analysis to forecast their tax situation if their tax withholdings and liabilities will closely match those of the prior tax year. But changes in your personal circumstances can make a big difference in your tax liability and should prompt a fresh look at your withholding rate,” says Lance Dunn, President of 2nd Story Software.
Dunn continues, “Some of the major areas that can cause significant differences from one tax year to the next include: Life Style Changes (marriage, divorce, birth of a child, buying a house, losing an exemption, or retirement); Modified Wage Earnings (you or your spouse start or stop working, or start or stop a second job); Income Withholding Status Changes (increased or decreased interest income, dividends, capital gains, or self-employment income); and, Deduction Modifications (increased or decreased deductions such as medical expenses, charitable giving, or education credits). By empowering taxpayers to take inventory of their personal tax situation year-round, TaxACT Preview plays a leadership role in the financial planning industry by allowing its users to develop a tax-savings strategy that is not complicated or expensive, and does not require a great deal of personal time.”
TaxACT In-season Platforms and Pricing
To ensure ease-of use, TaxACT’s software and Web-based service options feature an interface that gives users two distinct methods of entering their information: the QnA interview format or the forms-based entry method. TaxACT also contains a highly reliable and robust alerts system to help prevent costly mistakes that are most often caused by omissions or missed opportunities to maximize deductions. Regardless of the TaxACT version and / or platform, all forms are IRS and State approved. Additionally, TaxACT fully supports all states that assess state income tax.
Both platforms, TaxACT Online Standard and Standard Software for Windows, contain the most common forms, schedules, and worksheets and enable users to prepare and print a federal return for FREE – no gimmicks, stipulations, or rebate checks to mail. As an option, electronic filing may be added for just $7.95 per return.
For the do-it-yourself preparer that requires extra advice or has a more complicated tax situation, TaxACT is available in a Deluxe Edition and includes one (1) free federal e-file – a $7.95 value itself. The cost to use Online Deluxe is just $9.95; or, for those who prefer to download or order TaxACT’s Deluxe Edition software on CD-ROM, the cost is just $12.95 and includes the ability to prepare and print an unlimited number of returns, plus, one (1) free federal e-file. For more information and special pricing, visit http://www.TaxACT.com.
Approaching its 8th tax season, TaxACT is America’s #1 value leader in tax preparation software and consumer services. Not only is TaxACT the nation’s pioneer and most trusted leader of completely free and fully functional tax preparation software and online services; TaxACT offers more free forms, worksheets, and schedules than any other tax product on the market. Continuing its mission to play a leadership role in the financial planning and tax software industry by providing consumers with a reliable vehicle to develop tax-savings strategies, TaxACT enables consumers with the ability to prepare and file tax returns with the utmost ease – without having to invest a great deal of time or money.
According to Hitwise’s ™ quarterly survey ending March 2005, which monitored 113 sites within the Web’s Business and Finance – Accountancy category, TaxACT Online earned the privilege of being able to display Hitwise’s Top 10 Award Shield for its achievement of attaining the nation’s No. 3 position by visits in the Business & Finance – Accountancy category against all other U.S. Web sites. Accordingly, beginning February 20 – April 16, 2005, Hitwise’s week ending reports also demonstrated that TaxACT Online commanded the 2nd highest draw in traffic as compared to other Web-based tax preparation services during the 2004 tax season.
About 2nd Story Software, Inc.
Recently completing an $85 million Recapitalization with TA Associates (a leading private equity and buyout firm located in Boston, MA), 2nd Story Software is a privately held company founded in 1998 and is the foremost leader in developing and marketing affordable tax preparation software and Web-based services direct to end consumers. To date, the comprehensive suite of TaxACT’s products have enabled over 18 million consumer returns to be filed and continue to empower its users to make well-informed decisions with ease, while looking out for the cost-conscious.
More information regarding 2nd Story and the TaxACT Product line may be found by visiting http://www.TaxACT.com. Those interested in accessing TaxACT’s online services may visit http://www.TaxACTOnline.com. More information regarding Hitwise™ may be found by visiting http://www.hitwise.com. TA Associates’ homepage is located at http://www.ta.com.
2nd Story Software, Inc., the company and product logos, TaxACT and TaxACT Online, among others, are registered trademarks and / or service marks of 2nd Story Software. Other parties’ trademarks or service marks are the property of their respective owners and should be treated as such.