TaxAct Helps Americans File for Less and Get More with its 2020 Tax Software

Rhea-AI Summary

TaxAct launched its 2020 digital tax preparation products, providing consumers the ability to maximize tax refunds at up to 30% less cost than competitors like TurboTax and H&R Block. Key features include expanded W-2 auto import, improved pricing transparency, and enhanced tax-saving tools. Notably, TaxAct Free now allows users to report unemployment income, aiding those affected by the 2020 economic challenges. With a $100k Accuracy Guarantee, TaxAct aims to help filers confidently maximize their tax outcomes while minimizing costs.

Positive

• Launched 2020 tax products offering up to 30% lower prices than competitors.
• Expanded W-2 auto import feature for ease of use.
• Improved pricing transparency throughout the filing process.
• New tax-saving tools and recommendations to maximize refunds.
• TaxAct Free allows reporting of unemployment income at no charge.
• $100k Accuracy Guarantee enhances customer trust.

Negative

• None.

CEDAR RAPIDS, Iowa, Jan. 14, 2021 /PRNewswire/ -- TaxAct® today announced the launch of its 2020 digital and download tax preparation products, giving filers the power to maximize their tax refunds for up to 30 percent less¹ than the other providers in the DIY tax space. Designed to be a value-focused solution for Americans of all tax situations, TaxAct helps filers uncover unique tax advantages they may not have considered and discover the financial possibilities their tax returns create for them.

"Our mission is to help our filers, no matter the complexity of their situation, file their taxes with confidence, helping them get the best possible tax outcome and guiding them on specific, personalized actions to improve their outcome in the future," said Curtis Campbell, TaxAct President. "Filers shouldn't be forced to pay a premium price to optimize their tax situation, especially on the heels of everything they have endured in 2020. We provide our customers the opportunity to accurately file, keep more of their hard-earned money, and not get hit with the higher fees they would otherwise pay when using many of our competitors."

File for less and get more

TaxAct has enriched its 2020 product line up with a variety of new features, enhancements and smart tools to help filers efficiently check completing their tax returns off their to-do lists and take control of their tax situation. The improvements, which focus on providing increased value to TaxAct customers, include:

• Expanded W-2 auto import functionality. TaxAct has expanded its partnerships with payroll providers to offer more filers the ability to quickly import W-2 data directly from their employer's provider. This saves filers time spent completing their returns and the chance of mistyping a number when otherwise manually entering the information.
• Improved pricing transparency. All TaxAct Online products now feature a shopping cart that is visible throughout the entire filing process and accurately depicts the cost to complete the return so there are no surprises when it comes time to pay.
• Increased tax savings with core TaxAct product features. This season, filers will discover more opportunities to improve their tax outcome, whether that's to increase their refund or reduce the amount owed by taking advantage of key TaxAct features. For example, filers will see more ProTips pop up while completing their returns to help them uncover opportunities to save they may have otherwise missed. Also, before customers e-file, TaxAct's Double-Check tool will review their return to help find additional tax benefits and alert them of any errors or omissions. Lastly, once a filer e-files their return, they will get access to even more actionable savings recommendations for 2021 and beyond from their customized My TaxPlan, a free benefit that is provided with all of TaxAct's solutions.

Americans can now file unemployment income with TaxAct Free

2020 brought a variety of life changes for many tax filers, some of which directly impact their taxes, such as receiving unemployment income. To help those Americans maximize their refunds³ and file returns at a more affordable price, TaxAct customers can now report their unemployment income using TaxAct Free.

"We are here to help all filers understand how life changes that occurred in 2020 might impact their taxes," said Campbell. "Our team is dedicated to assisting the millions of Americans who found themselves unemployed, by helping them accurately report any associated unemployment benefits on their federal return – and doing so at no charge."

With a goal of providing greater value to all customers, TaxAct is focused on offering affordable tools and products to help filers successfully navigate any change to their tax situation this season. Backed by the company's industry-leading $100k Accuracy Guarantee², TaxAct customers can rest assured they have the guidance needed to accurately file their returns and get their maximum refund.

About TaxAct®

TaxAct is a savvy, tax-filing solution that provides filers with affordable DIY tax software to successfully navigate the U.S. tax code. As a pioneer in the industry, TaxAct's products enable all users – regardless of profession, tax bracket or complexity of their return – to quickly and accurately file their taxes all while discovering new ways to leverage their tax situation and improve their financial well-being. At TaxAct, taxes are our expertise, but we don't see them as the end goal. Rather, we believe taxes are a stepping-stone to possibility. Possibilities that are unique as every filer. Possibilities that help each hardworking American not only claim the money they deserve but also enable them to make smart money decisions. We deliver the power of possibility through straightforward technology to help filers secure their best tax outcome and elevate their financial lives.

To learn more about TaxAct, a business of Blucora, Inc. (NASDAQ: BCOR), visit www.taxact.com or connect with us on Facebook, LinkedIn, and Twitter.

About Blucora®

Blucora, Inc. (NASDAQ: BCOR) is on the forefront of financial technology, pioneering tax-smart financial solutions that empower people's goals. Blucora operates in two segments including wealth management, through its Avantax Wealth Management business, the No. 1 tax-focused broker-dealer, with $76.2 billion in total client assets as of September 30, 2020, and tax preparation, through its TaxAct business, a market leader in tax preparation software with approximately 3 million consumer and professional users. With integrated tax and wealth management, Blucora is uniquely positioned to provide better long-term outcomes for customers with holistic, tax-advantaged solutions. For more information on Blucora, visit www.blucora.com.

Media Contact
Amy Roepke
TaxAct
pr@taxact.com

Disclaimers

¹30% less claim based on comparison with TurboTax and H&R Block federal pricing for Premier consumer online products on 1/11/2021.  Other TaxAct consumer online products also cost less than comparable TurboTax and H&R Block products on same date. Price paid is determined at the time of filing and is subject to change.

²Maximum Refund and $100k Accuracy Guarantee: If customer receives a reduced refund or increased tax liability, or pays penalty or interest because of a TaxAct error, TaxAct will cover such charges and pay the difference in the refund or liability up to $100,000. Guarantee only applies to software errors and does not apply to errors attributable to the user. See TaxAct's $100k Accuracy and Maximum Refund Guarantee Page for more information.

 

View original content to download multimedia:http://www.prnewswire.com/news-releases/taxact-helps-americans-file-for-less-and-get-more-with-its-2020-tax-software-301208337.html

SOURCE TaxAct

FAQ

What new features does TaxAct offer for 2020?

TaxAct's 2020 products include expanded W-2 auto import, improved pricing transparency, and enhanced tax-saving tools.

How much can TaxAct users save compared to competitors?

TaxAct claims to help users save up to 30% less than TurboTax and H&R Block.

Can users file for unemployment income with TaxAct?

Yes, TaxAct Free now allows users to report unemployment income.

What is the Accuracy Guarantee offered by TaxAct?

TaxAct offers a $100k Accuracy Guarantee to cover any errors leading to reduced refunds or increased tax liability.

What is TaxAct's mission for its customers?

TaxAct aims to help filers confidently file their taxes and maximize their tax outcomes without high fees.