Tax Software

YOUR AFFORDABLE SOLUTION FOR
Tax Software
Table of Contents
Press Release
Table of Contents
TaxACT® 2008 – Taxes Done Right
Press Release
3
Online Products
5
Download/CD Products
8
Business Products
11
The TaxACT® Story
13
Note from the President
18
Contact Us
19
TaxACT Standard & Deluxe, the best value for your
biggest refund.
Cedar Rapids, IA – January 8, 2009 – 2nd Story Software®
Inc., developer of TaxACT, announces the release of TaxACT
Standard & Deluxe for the 2008 tax year. TaxACT pioneered
free Federal tax preparation software to all taxpayers over
a decade ago and continues to be a value leader in tax
preparation software. Taxpayers using TaxACT can prepare,
print and e-file their Federal tax return for free starting today
and if they opt for e-filing with direct deposit can have their
return in as few as 8 days1.
About TaxACT®
“TaxACT was created around the belief that no one should
have to pay to prepare their federal taxes, and that
philosophy is what keeps TaxACT at the forefront of the tax
preparation software industry. Our focus for this season
was to create a better user experience for our customers.
We’ve worked hard to simplify the program’s interface and
navigation,” says Lance Dunn, CPA and President of 2nd
Story Software, Inc.
TaxACT has been a complete web-based tax resource for
more than a decade. Our focus is on making tax preparation
easy, fast, reliable and most importantly, affordable. TaxACT
Standard was the first free federal electronic tax preparation
program and the first to offer free printing and e-filing
services to all American taxpayers. This focus has made
TaxACT the #2 destination for online tax preparation1.
“We’ve also made valuable additions to TaxACT Deluxe,
such as the new Donation Assistant™. This tool helps our
users track their charitable contributions and provides
fair market values for nearly 700 items based on their
condition. Donation Assistant is just one more way that
TaxACT can help its users get their maximum refund. Given
the current state of the economy, we want our customers to
know they’re getting the biggest refund possible, and our
Maximum Refund Pledge2 shows that we fully stand behind
our products.”
About 2nd Story Software,® Inc.
2nd Story Software, a privately held company founded in
1998, is critically acclaimed as being a leader in developing
and marketing affordable tax preparation software and webbased services directly to consumers. The comprehensive
suite of TaxACT products continues to empower its users to
devise well-informed tax strategies with ease.
TaxACT News Room
TaxACT 2008 Standard
TaxACT Standard is a fully featured tax preparation product
that provides support for 1040EZ, 1040A and long form
For the latest TaxACT news, press releases, images,
logos, videos and more please visit our news room at
www.taxact.com/media.
1
In general, the IRS estimates that it will take 8-15 days for taxpayers who efile their return
and direct deposit to receive their federal tax refund from an accepted tax return. IRS
processing delays may occur, delaying receipt of the taxpayers refund. The IRS begins
accepting e-filed returns on Jan. 16th
2 If you get a larger refund or smaller tax due from another tax preparation method with the
same data, we will refund the applicable product price you paid for your TaxACT Deluxe
federal return. TaxACT Standard customers are entitled to a payment of $4.95. Refund claims
must be made in writing within sixty (60) days of your TaxACT filing date.
1 According to collective week end reports for the website www.taxactonline.com, released by
Hitwise™ during the 2005, 2006 and 2007 tax seasons.
2
TaxACT 2008 Press Kit
www.TaxACT.com/media
3
Online Products
1040 returns and supports over 80 tax forms and schedules
(including Schedule C for small business owners). TaxACT
users have the added assurance that TaxPayer Support™
is available via e-mail to all of its users without limits on
the number of sessions or questions. No other leading
tax software package provides unlimited tax help to its
customers at no additional cost.
TaxACT Online products are online applications. There is no
software to download or install on your computer. Simply
create an account and prepare your taxes from any computer
with Internet access.
TaxACT Online Standard�������������������������������� Free
Prepare, print and e-file your Federal return FREE! TaxACT
Online Standard supports 1040, 1040A and 1040EZ returns.
TaxACT 2008 Deluxe
TaxACT Deluxe gives customers access to more one-onone support and several features that provide additional
guidance. Some features available to Deluxe users include:
Key Features:
• New! TaxACT Examiner Series
Boost your tax savings with TaxACT Credit, Deduction, and
Income Examiners.
• NEW! Donation Assistant
Turn your charitable contributions into big tax savings.
Donation Assistant let’s you accurately track your donations
and provides you with certified resale values for nearly 700
commonly donated items, eliminating the guesswork and
putting more cash in your wallet.
• New! TaxACT Maximum Refund Pledge
If you get a larger refund or smaller tax due from another
tax preparation method, TaxACT entitles you to a refund or
payment. Full disclosure available at www.taxact.com/mrp.
• New! Walk-through Videos
Transitional videos explain each step in the TaxACT
preparation process, letting you know what to expect next.
• NEW! Maximum Refund Pledge
If you get a larger refund or smaller tax due from another
tax preparation method using the same data, we will refund
the applicable product price you paid for your TaxACT
Deluxe federal return.
• Enhanced! Help Center
IRS form instructions and answers to the most commonly
asked questions are available in every step.
• Unlimited Phone Support
No matter how complicated your tax question is, our
dedicated TaxPayer Support team will work with you to
get it resolved. No time limits, no fees; just a trained expert
helping you get the information you need.
• Easy Interview Process
TaxACT’s interview asks you simple questions and fills out
the appropriate tax forms for you.
• TaxACT TaxPayer Support
Our highly qualified tax specialists are available via e-mail to
guide you through complex tax situations.
• 100% Accuracy Guaranteed
If you are assessed a penalty due to a calculation error in
TaxACT, we’ll pay the penalty & interest.
• Free Federal E-file
Get your refund in as few as 8 days with e-file & direct
deposit, included with TaxACT Online Standard.
• TaxACT Alerts
TaxACT Alerts warn you of errors, omissions and tax saving
opportunities you may have missed.
4
TaxACT 2008 Press Kit
www.TaxACT.com/media
5
TaxACT Online Deluxe������������������������������������� $9.95
TaxACT Online State��������������������������������������� $13.95
Includes all the great features of TaxACT Standard plus
extensive tax calculators, extra tax help and more.
TaxACT Online State is not a standalone application, TaxACT
Online Standard or Deluxe is required in order to complete
your state return. If purchased with Deluxe the first state
edition is $7.00, each additional state edition is $13.95.
Key Features:
• New! Donation Assistant
Accurately tracks your non-cash donations and provides
certified resale values for commonly donated items. Stated
values are backed by a 100% audit guarantee.
Key Features:
• Enhanced! Part-Year and Non-Resident forms
If you lived in more than one state this year, or worked in
one state but lived in another, you may need to file a partyear or non-resident return. TaxACT now supports all partyear and non-resident states. Each state sold separately.
• TaxACT Data Import
Imports essential tax data from last year’s TaxACT return,
which may be needed to e-file this year’s return.
• Complete your state return in minutes.
All of your federal tax information automatically transfers to
your state return. Just answer a few state specific questions
and you’re ready to file.
• TaxACT Life Events
Determine tax implications for changes that may have
occurred in your life during the past year.
• TaxTutor™ Guidance
Explains complex tax laws, pitfalls to avoid, recent tax law
changes, filing tips and year-end tax strategies.
• Available for:
All states that assess state income taxes. For a list of income
taxing states visit www.taxact.com/state-list.
• TaxACT TaxPayer Support
Tax specialists are available to guide you through complex
tax situations. Unlimited phone and e-mail support.
• Free State E-file
Get your state refund even faster with e-file, included with
TaxACT Online State. E-filing is available for all income taxing
states that support e-filing. For a list of these states please visit
www.taxact.com/state-list.
• Federal Student Aid (FAFSA) Worksheet
Your tax data auto transfers to the FAFSA worksheet to make
completing the FAFSA form easy.
• Joint vs. Separate Report
Determine your tax obligations if you were to file “married
filing jointly” vs. “married filing separately”.
TaxACT Online Ultimate Bundle��������������� $16.95
Complete Federal and State taxes with one value-priced
bundle and save money.
• National Average Comparisons
Compare your taxes to the average U.S. citizen to identify
potential “hot spots” that may make the IRS take notice.
Includes:
• TaxACT Online Deluxe
• TaxACT Online State (your choice of one state)
• One free Federal e-file
• One free State e-file
• Capital Gain Summary
Lists a description of stock & asset sales so you can quickly
compare & reconcile with your brokerage statement.
Additional state editions $13.95 each.
• Depreciation/Disposal Summaries
Provides a set of reports for current and future years that
makes it easy to review all of your assets in one list.
• TaxWatch 2009
Customize a plan to help lower next year’s tax burden.
6
TaxACT 2008 Press Kit
www.TaxACT.com/media
7
Download/CD Products
TaxACT Deluxe��������������������������������������������������� $12.95
TaxACT Download/CD products are software applications
that need to be to installed on Windows 98 or above and
can be purchased at www.taxact.com. A $5.95 shipping and
handling fee applies to all CD orders.
Includes all the great features of TaxACT Standard plus
extensive tax calculators, extra tax help and more.
Key Features:
• New! Donation Assistant
Accurately tracks your non-cash donations and provides
certified resale values for commonly donated items. Stated
values are backed by a 100% audit guarantee.
TaxACT Standard������������������������������������������������ Free
Prepare, print and e-file federal taxes for FREE! TaxACT
Standard supports 1040, 1040A and 1040EZ returns.
Key Features:
• New! TaxACT Examiner Series
Boost your tax savings with TaxACT Credit, Deduction,
and Income Examiners.
• Prepare returns for your family & friends
TaxACT Deluxe allows you to prepare and print multiple
federal income tax returns at no additional cost.
Includes one free federal e-file, additional returns may be
e-filed for $7.95 each. The IRS limits you to five e-filed returns.
• New! TaxACT Maximum Refund Pledge
If you get a larger refund or smaller tax due from another
tax preparation method, TaxACT entitles you to a refund or
payment. Full disclosure available at www.taxact.com.
• TaxACT Data Import
Imports essential tax data from last year’s TaxACT return,
which may be needed to e-file this year’s return.
• New! Walk-through Videos
Transitional videos explain each step in the TaxACT
preparation process, letting you know what to expect next.
• TaxACT Life Events
Determine tax implications for changes that may have
occurred in your life during the past year.
• Free Federal E-file
Get your refund in as few as 8 days with e-file and
direct deposit.
• TaxTutor Guidance
Explains complex tax laws, pitfalls to avoid, recent tax law
changes, filing tips and year-end tax strategies.
• Enter Tax Information With Ease
Enter your tax data directly on the tax forms, or answer the
interview questions & the tax forms will be filled out for you.
• TaxACT TaxPayer Support
Tax specialists are available to guide you through complex
tax situations. Unlimited phone and e-mail support.
• TaxACT TaxPayer Support
Our highly qualified tax specialists are available via e-mail to
guide you through complex tax situations.
• Federal Student Aid (FAFSA) Worksheet
Your tax data auto transfers to the FAFSA worksheet to make
completing the FAFSA form easy.
• 100% Accuracy Guaranteed
If you are assessed a penalty due to a calculation error in
TaxACT, we’ll pay the penalty & interest.
• Income Tax Calculators & Reports
Take control of your taxes with joint vs. separate and
national average comparisons; along with depreciation,
disposal and capital gains summaries.
• Help Center
IRS form instructions and access to our extensive help topic
database are available every step of the way.
• TaxWatch 2009
Customize a plan to help lower next year’s tax burden.
• TaxACT Alerts
TaxACT Alerts warn you of errors, omissions and tax saving
opportunities you may have missed.
8
TaxACT 2008 Press Kit
www.TaxACT.com/media
9
Business Products
TaxACT State������������������������������������������������������ $13.95
TaxACT Business products are software applications that
need to be to installed on Windows 98 or above and can
be downloaded or ordered at www.taxact.com. A $5.95
shipping and handling fee applies to all CD orders.
TaxACT State is not a standalone application, TaxACT
Standard or Deluxe is required in order to complete your
state return. If purchased with Deluxe the first state edition is
$7.00, each additional state edition is $13.95.
Business 1065, 1120 or 1120S������������������� $29.95 ea.
Key Features:
• Enhanced! Part-Year and Non-Resident forms
If you lived in more than one state this year, or worked in
one state but lived in another, you may need to file a partyear or non-resident return. TaxACT now supports all partyear and non-resident states. Each state sold separately.
Uniquely suited to prepare one Federal business return.
Partnership returns use Form 1065, C Corporations use Form
1120, and S Corporations use Form 1120S.
Key Features:
• Easy Interview Process
TaxACT’s interview asks you simple questions and fills out
the appropriate tax forms for you.
• Complete your state return in minutes.
All of your federal tax information automatically transfers to
your state return. Just answer a few state specific questions
and you’re ready to file.
• Automatic Partner/Shareholder Allocations
All 1065 and 1120S Schedule K-1 items are automatically
allocated and updated as business incomes, deductions and
credits change.
• Available for:
All states that assess state income taxes. For a list of income
taxing states visit www.taxact.com/state-list.
• Depreciation/Disposal Summaries
Provides a set of reports for current and future years that
makes it easy to review all of your assets in one list.
• State E-file
E-file one state return for $7.95 and get your state refund
even faster. E-filing is available for all income taxing states
that support e-filing. For a list of these states please visit
www.taxact.com/state-list.
• Loan and Savings Calculators
Calculate loan payments or the future value of savings
deposits, then print amortization & accumulation schedules.
• Password Protection
Keep your data safe from others who may have access to
your computer.
TaxACT All-States 1040��������������������������������� $51.80
Need multiple states? The 1040 All-States package includes
all 43 states that assess state income taxes.
• TaxACT Alerts
TaxACT Alerts warn you of errors, omissions and tax saving
opportunities you may have missed.
TaxACT Ultimate Bundle������������������������������ $19.95
• Multiple occurrences of supporting forms
TaxACT allows you to enter multiple copies of supporting
forms. If you had several rental properties during the year,
it’s no problem for TaxACT!
Purchase your Federal and State software together and
save over 25%.
Includes:
• TaxACT Deluxe
• TaxACT State (your choice of one state)
• One free Federal e-file
Additional state software $13.95 each.
10
TaxACT 2008 Press Kit
www.TaxACT.com/media
11
The TaxACT Story
State 1065, 1120 or 1120S���������������������������$13.95 ea.
What Makes TaxACT Unique?
State Editions are not standalone applications, the
corresponding TaxACT Business Edition is required in order
to complete your state return.
A True David and Goliath Story
TaxACT was created from the ashes of a product called
Personal Tax Edge marketed by Parsons Technology. In 1994,
Intuit, the makers of TurboTax, acquired Parsons Technology
and Personal Tax Edge, their next closest competitor. By
1997, Personal Tax Edge was gone, but the discontinuation of
Personal Tax Edge led the founders of 2nd Story Software (all
of whom had worked on the Personal Tax Edge product) to
create TaxACT. Starting with a simple goal, to provide highquality tax preparation software to taxpayers at an affordable
price, TaxACT launched in 1998 and in less than a decade
claimed its place amongst the Goliaths of the industry,
becoming the #2 destination for online tax preparation3.
Key Features:
• Complete your state return in minutes.
All of your federal tax information automatically transfers to
your state return. Just answer a few state specific questions
and you’re ready to file.
• 1065 and 1120S Editions available for:
Arizona, California, Florida, Georgia, Iowa, Illinois, Indiana,
Minnesota, Missouri, New York, Pennsylvania, South
Carolina, & Wisconsin. Each state sold separately.
• 1120 Editions available for:
California, Florida, New York, Pennsylvania, South Carolina,
& Wisconsin. Each state sold separately.
Leading the Industry
TaxACT spent the last decade becoming a leader in a very
competitive tax preparation market. Most significantly,
TaxACT was the first company in the market to offer its
Standard Federal software to all American taxpayers for free
for the 2005 tax season. Making TaxACT Standard free for
anyone to use was a watershed moment in the industry, and
competitors were quick to follow suit. However, TaxACT’s
dedication to high quality software sets them apart from
even their most notable competition.
All-States 1065, 1120 or 1120S����������������$51.80 ea.
Need more than one state? Purchase one of our All-States
packages and receive all the states supported by that edition.
Home & Business Bundle������������������������������ $44.95
Bundle and save! Purchase your Personal and Business tax
software together to save over $10.
Honesty is the Best Policy
TaxACT Standard is not a gimmick. Quality has always been
the #1 priority at TaxACT, and TaxACT Standard is absolute
proof of this. Unlike competing products, TaxACT Standard
is a complete federal tax preparation solution for the vast
majority of American taxpayers. TaxACT Standard can handle
1040 long-form, 1040A and 1040EZ returns as well as more
than 80 of the most commonly used Forms and Schedules,
including Schedule C for small business owners and
Schedule D for investors. Most importantly, TaxACT Standard
makes free federal tax preparation and e-filing a reality
for the vast majority of American taxpayers. Dedication to
quality is what sets TaxACT apart from the competition.
Includes:
• Your choice of Business 1065, 1120 or 1120S
• TaxACT Deluxe
• TaxACT State 1040
• One free Federal 1040 e-file
Additional state software $13.95 each.
3 According to collective week end reports for the website www.TaxACTOnline.com, released
by Hitwise™ during the 2005, 2006 and 2007 tax seasons.
12
TaxACT 2008 Press Kit
www.TaxACT.com/media
13
TaxACT vs. The Market
Tax Year 2007 – Web Traffic Share
Tax preparation software is an amazingly competitive niche,
with dozens of providers selling products that to the naked
eye may seem identical. In recent years there has been an
explosion of new online tax providers, all with their own
different attempts to garner the attention of an increasingly
knowledgeable customer base. TaxACT has maintained its
status as an industry leader by staying true to the principles
on which the company was founded.
By providing a high quality product at the best possible
prices, TaxACT has proved that it is no fly by night operation.
100% made and supported in Cedar Rapids, IA, TaxACT
continues to be a value leader in the do it yourself tax
preparation industry. However, success brings its own set of
challenges, and TaxACT has answered those challenges with
continuous improvement.
20.18%
26.01%
14.11%
TaxACT
39.70%
TurboTax
TaxCut
All Others
Data source: Hitwise for January 2008 to April 2008
TAX YEAR 2007 – Web traffic share
Security Blanket
The advent of the digital age led to the emergence of a new
breed of criminal, the identity thief. As a trusted provider of
tax services, TaxACT has spared no expense in guaranteeing
that our process is protected by state-of-the-art firewalls
and that all customer information is transferred via security
protocols that meet industry standards. We know that the
information on our servers is immensely critical, and we take
that responsibility very seriously.
JANUARY
FEBRUARY
MARCH
APRIL
COMBINED
4-MONTH AVG
TaxACT
20.71%
23.69%
23.03%
13.30%
20.18%
TurboTax
36.44%
38.09%
39.61%
44.67%
39.70%
TaxCut
18.03%
14.31%
11.31%
12.81%
14.11%
All Others
24.81%
23.91%
26.06%
29.23%
26.01%
Due to statistical variations, percentage sums will not always equal 100%.
No Risk – Guaranteed
All TaxACT Online products are free for anyone to try; there
are no upfront costs or startup fees. TaxACT Online customers
are not required to provide any personal information before
accessing the online applications, guaranteeing that they
know what they’re getting before spending a dime. If they
choose to prepare and file their taxes with TaxACT Online, as
millions have, they are afforded a 100% Accuracy Guarantee.
14
TaxACT 2008 Press Kit
www.TaxACT.com/media
15
Deluxe/Premium Software Comparison Chart
Entry Level/Standard Software Comparison Chart
TaxACT®
Online
Standard
Price:
Federal price: (e-file included)
State price: (e-file included)
TaxACT®
Online
Deluxe
TurboTax®
Online
deluxe
TaxCut®
Online
premium
+ e-file
Federal price: (e-file included)
$9.95
$29.95
$39.95
State price: (e-file included)
$7.00
$34.95
$29.95
Unlimited
support and
guidance
first 20 min
session $29.95,
$19.95 each
additional
session.
first session
free, $19.95 for
each additional
session.
TurboTax®
TaxCut®
Free Online Online Free
Edition
Edition
Price:
FREE
FREE
FREE
$13.95
$25.95
$29.95
Industry Leadership
Industry Leadership:
Pioneer of completely free tax preparation
applications – prepare, print & e-file free
Most economical federal software
product in its class
Has provided free federal tax preparation
software for more than a decade
Most economical state e-file option
Supports the most diverse group of tax
filers – including Schedule C filers
Key Features:
Most economical state and e-file option
Free tax topic guidance/support via
phone, e-mail and over-the-Web
Year round tax software solution
Preview: October – December
Final: January – beyond
Key Features
College student financial aid worksheet to
help complete the FAFSA application
Supports 1040A, 1040EZ and 1040 returns
Life event guidance
Step-by-step interview
Looks for deduction opportunities
as you go/finds overlooked deductions
Checks for errors, flags potential audit risks
Non-cash donation valuation guide
Free technical support via e-mail & web
Audit alerts
Information verified 12/24/2008
Free technical support via phone,
e-mail & web
Information verified 12/24/2008
16
TaxACT 2008 Press Kit
www.TaxACT.com/media
17
Final ACT
Contact Us
A Note from the President…
It’s been just over a decade since TaxACT launched on
January 18, 1998. Since that time TaxACT has been a catalyst
for change in the tax preparation industry. We’re proud
that TaxACT was the first service to offer free preparation of
federal taxes, the first to offer free printing of a federal tax
return and the first to offer free e-filing of federal tax returns.
We’ve made sure that TaxACT has consistently forced the tax
preparation industry to become more competitive, and in
doing so we have forced our competitors to change as well.
The TaxACT team knows that there is always room for
improvement; in this ever changing market the ability
to adapt and improve is essential to grow our business.
However, we have shown time and time again that we’re up
to the challenge, and moreover, that we’re willing to push
the limits to make changes that will benefit our customers.
We also know that as long as we stay true to the principles
TaxACT was created around, our customers will get the
absolute best product we can produce, at the best prices
we can offer.
Now, we can tell you all about the product and list as many
features as we want, but we know those are just words. When
it comes right down to it, our product has to speak for itself,
and we know that it does. Honestly, that’s why we include it
with every one of these press kits, because we want you to
try it for yourself, not just rely on our ability to sell its benefits
and hide its blemishes. So please, pop it into your computer
and give it a try. We know that you’ll see what we see, the
best bargain in the tax preparation industry.
"I have been filing with TaxACT for the past 4 years
and I would highly recommend this program to
anyone that can’t afford to give away so much of
their money filing with other competitors that are
charging so much. It’s quick, easy and accurate!”
Kathy – Hanover, PA
Media
RELATIONS
CONTACT:
Leigh aragon
Public Relations Manager
Phone:
(319) 373-3600
Sales & Support
2ND STORY
Information:
SOFTWARE
Sales Line:
1425
(800) 573-4287
60th Street NE
Fax:
(319) 373-0636
E-mail:
[email protected]
Thank you for your time,
Suite 300
Sales Fax:
(319) 447-4674
Cedar Rapids
IA 52402
Support Line:
(319) 373-4514
Lance Dunn, CPA
President and CEO, 2nd Story Software Inc.
www.taxact.com
Website:
service.taxact.com
18
TaxACT 2008 Press Kit
www.TaxACT.com/media
19
2ND STORY
SOFTWARE
1425
60th Street NE
Suite 300
Cedar Rapids
IA 52402
www.TaxACT.com
Copyright © 2008
2nd Story Software, Inc.
All rights reserved.