In this era of constant corporate buy-outs, it isn't surprising to learn that TaxAct software is the by-product of one of those corporate sales. It began as a program known as Personal Tax Edge (which was a Parsons Technology product), but when Intuit bought out the company in the 1990s, some of the employees formerly with Parsons decided to create their own unique software.
In 1998, they released TaxAct, and it is one of the most commonly used tax preparation softwares. Today, it is also available on iOS and Android apps as well as online. Interestingly enough, H&R Block attempted to buy the firm in 2010, but this fell through. A year later, the company was purchased by Blucora, and in 2012 it was acquired by Infospace. It is also a part of the Free File Alliance partnered with the IRS for online tax submission.
TaxAct is a top competitor in the tax preparing industry. They offer 100% accuracy guarantee as well as options to file taxes online, with a software CD, or on their iOS/Android App. TaxAct's website is secure with Norton Secured, TRUSTe Certified Privacy, Trustwave, and SSL that meet industry standards. This is only the tip of many great things TaxAct offers.
Often described as an ideal tax software for those with very simple tax requirements, there are many good features associated with TaxAct. There are advanced packages, but for this review, we'll consider the most commonly used - Free Federal and Deluxe - by individuals and couples. Though simple, the software does have some advanced functions. For instance, it has a stock assistance tool that lets you enter all of your stock information for the year, and then it incorporates this information properly into the return. There are also many informational and learning resources for those who want to fully understand all aspects of their return.
The tax company promises full accuracy. If TaxAct makes a mistake with the IRS, they agree to reimburse customers for penalties and interest. The only negative thing about this guarantee is that the mistake has to be reported within 30 days.
Like other tax prep software, TaxAct makes it much easier to handle your returns by importing data from a previous tax year. You can do this if you filed with the software in the previous year, but it is also designed to accept imported data from TurboTax and H&R Block as well.
This software uses "mini alerts" that indicate that some of your information is incorrect or in need of changes. These remain active until you deal with them but don't prevent you from moving forward. If customers do want to learn about deductions, TaxAct provides helpful information about the different kinds of deductibles, all on the website. While the information is not laid out upfront on the homepage, people can search through the help section to learn more.
Not only does TaxAct offer free options for many filers, but their state prices fall in line with average costs whereas many companies tend to price high in this area. TaxAct offers the following federal tax products:
You can reach out to TaxAct in the following ways:
There are some negatives associated with the use of TaxAct, but these are less a failure of the program and more related to the fact that it is designed especially for those with uncomplicated tax returns.
Some have complained that it is a bit thin on deduction discovery tools. However, there are more advanced versions of the software available for those who know that they have complex tax return needs. If you are a filer without retirement income, depreciation, and multiple streams of income, you won't need these complex deduction and asset tools.
Deductions are not automatically suggested, but TaxAct provides customers with the ability to learn more about a variety of different kinds of deductions including:
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I love how Fast and simple they make it to file! You can process and file right then and there
I've used TaxAct for years. And every year the price goes up. What started at $15 is now $115. This year I went through the process, grumbling at the price but just wanting to get it over with. However, the instructions were confusing, the system kept glitching, and when I tried to contact the premium support I was supposedly paying for, I got a recording that all lines were busy and to send an email that would be responded to in several days. I had recently helped my teenage son find a free program to file his taxes - FreeTaxUSA. I was impressed with it's clarity so I redid all my taxes (I hadn't completed the filing yet with TaxAct because I was still confused) and paid a total of $15, which included Schedule C and my state tax filing. As an added bonus, since it was far more clear in its instructions than TA, I was able to get an additional $800 refund. I've talked to family/friends about TaxAct and they all agree -- the price goes up very quickly, it's confusing, glitchy, and the support is non-existent. Will never go back.
Very simple service to use. Takes you step by step.
This is a user-friendly program that we’ve been using for years to easily get our taxes done.
I have owned a few different companies and have trusted tax act for the last 8 years! They are great and super easy to file your tax returns giving you the highest tax return!
Been doing my taxes with TaxAct for 8 years in a row now! They are awesome! I love the audit guarantee!
TaxAct was a great way to submit your taxes for little or no cost. We used them for many years before we decided we needed to use an accountant to help us.
Have used online service for many years, but price of state filing jumped this past year. May look elsewhere next year.
Husband uses it a likes it. Likes that it's free!
Well suited to my tax situation. Having all my tax documents together made the process easier.
very good customer service.and courteous demenor
They are trustworthy and thus they have my confidence! I'e used them for over five years and had one my kids start using them as well. They are very thorough in asking questions yet my relatively simple return can be done in a short amount of time. Now I have my return done two months before the deadline instead of two days or two hours.
Have used them for years. Price seems to be climbing every year as well. I have continued mostly because they have all my information and I don’t need to re-enter everything each year. It is simple to use and makes tax filing so much easier. I haven’t had any issues with it that concern me. I’ve been told other software filers are just as good but I must be too loyal to switch.
TaxAct was very helpful when I had to file my taxes as it provided explanations and suggestions throughout the process. Sometimes I did wonder if I was missing more helpful information, but overall was a good tool.
Software easy to navigate. Good value for price. Easy to submit to IRS. Great correspondence
I used TaxAct for a couple of years and it’s more affordable than TurboTax, but not quite as robust. That said, it’s a great choice for typical filers.
We have used this often. Both online and through a software program we uploaded to our computer. It was fast, easy and affordable. The information provided and the help button was able to answer a lot of our questions.
Software is easy to navigate. Step by step guide makes sure you get all your entitled to.
Super easy interface and makes the federal return a cinch
We have used TaxAct several times for our taxes. They have always been correct and filed in a correct manner.
HAS BEEN GOOD FOR YEARS BUT PRICE IS GOING UP.
Very simple to use even for someone like me who has no knowledge of the tax system
Very reliable. Relatively easy to use. Good price.
It is an online service. I have used several years now. I'm very pleased with them.
The last two years, their quality has decreased significantly, and their price has increased.
That program did not give me the correct information about the sale of my home and what was taxed.
As good as TurboTax at a fraction of the cost.
It is all done electronically. I had one issue and they resolved it quickly and to my satisfaction.
It is all done electronically. I had one issue and they resolved it quickly and to my satisfaction.
The questions are good; fills in the forms corrrectly; The COST was way too high!
very easy and very easy to understand and easy to follow along
until last year, their downloadable version was a good buy. Last year the price on that went up, so I didn't use them. I am also disappointed that I can't go into the former versions and just review what they entered at various sections of the previous tax session.
Impossible to contact them. Contact/Support form on their site gives an Internal Service Error!!!
Easy to use. Thorough. You can even do city returns. With e-file and direct deposit, you get your refund much faster.
I have used the free version of TaxAct for many years and have been very pleased with it. However, the latest version (for the tax year 2015) appears to no longer support Schedule C and one is forced to upgrade to a paid version. For that reason, I will no longer be using TaxAct.