TaxAct Holdings, Inc. is an American tax preparation software company based in Cedar Rapids, Iowa, USA. The company offers its own software package "TaxAct" to individual tax registers, companies and professional affiliates. The company was founded in 1998 as. Since 2012, TaxAct Holdings, Inc. is a subsidiary of Blucora.
Video TaxAct
History
TaxAct Holdings, Inc. was founded in 1998 as 2nd Story Software by Lance Dunn, the former Vice President of software development at Parsons Technology. Later, Lance Dunn recruited Jerry McConnell and Alan Sperfslage as developers, and Cammie Greif as a marketer.
In 2000, a cloud-based version of TaxACT software was released. In 2004, TA Associates, a private equity firm based in Boston, acquired two-thirds of the company for $89 million.
In October 2010, H&R Block said it would pay $287.5 million in cash to acquire the parent firm of TaxAct. In May 2011 the U.S. Department of Justice attempted to stop the acquisition in an antitrust lawsuit. In November 2011, a federal judge sided with the Justice Department, and both companies mutually terminated the contract.
In January 2012, 2nd Story Software was sold to Seattle-based Blucora (formerly Infospace, Inc.) for more than $287 million. In 2013, the name was officially changed to TaxAct Holdings, Inc. Subsequently, in October of the same year, TaxAct acquired Balance Financial, the company that specializes in personal finance tools and services.
In 2017, Sanjay Baskaran was appointed as the President of the company.
TaxAct is a member of the Free File Alliance, a free federal tax preparation and electronic filing program for eligible individual taxpayers developed through a partnership between the IRS and a group of private sector tax software companies.
Maps TaxAct
Product overview
TaxAct offers two product formats: TaxACT Online which is web-based tax preparation, and TaxACT Desktop. There are also free mobile app called TaxACT Express which was released on January 17, 2014. The app is available for iOS and Android.
There are four online plans: Free, Premium, Freelancer and Pro. TaxAct offers a Free version for basic returns using the 1040EZ and 1040A forms. Self-employed filers should use the Freelancer version which costs $39 for a federal filing and $37 per state filing. TaxAct Premium, which costs $51, includes the features of all the other versions plus audit protection.
On January, 2017 TaxAct partnered with Miami-based startup Taxfyle. The partnership enables individual tax filers, small and medium sized business owners, independent contractors to connect with Certified Public Accountants and Enrolled Agents should they prefer to have their taxes completed by a licensed accounting professional.
On March, 2018 TaxAct Online Freelancer Edition was awarded the title of "The best tax software for independent contractors" by Business Insider.
References
External links
- TaxAct Official site
Source of article : Wikipedia
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