TaxAct
Simplify tax season. Maximize your refund. File with confidence.
Executive Summary
TaxAct is a comprehensive finance and accounting platform designed for individuals, self-employed individuals, and businesses to prepare and file federal and state taxes. It provides a user-friendly interface with step-by-step guidance, aiming to simplify the tax filing process while maximizing potential refunds through AI-assisted features and deduction optimization. Known for its affordability, TaxAct offers a range of options, including a free version for simple tax situations, positioning it as a budget-friendly alternative to more expensive platforms.
Use Cases
- Individual Federal and State Tax Filing
- Self-Employed and Small Business Tax Preparation
- Filing for Complex Tax Situations (e.g., investments, rental properties, foreign tax credits)
- Tax Planning and Estimation
- Professional Tax Preparation for Multiple Clients
- Audit Defense and Identity Theft Restoration
Features
Visibility
- Client Manager (Professional): A CRM-like interface for tax professionals to manage client information, track return status, and view productivity.
- Tax Summary Dashboard: Visualizations including numerical summaries and charts of income, deductions, taxes, and refund/amount owed for individual filers.
- Professional Reports: Detailed reports for tax professionals on e-files by status, EFIN, PTIN, and settlement type to monitor practice health.
- Real-time Calculations: Instantaneous calculation of tax implications as data is entered, allowing users to see the impact of their inputs.
Intelligence
- AI-Assisted Guidance: Uses AI to guide users through the tax preparation process, simplifying complex tax situations and identifying relevant tax laws.
- Deduction Maximizer: Helps users identify and claim all eligible deductions and credits to maximize their tax refund.
- Error and Omission Checks: Automatically reviews returns for potential errors and missed deductions before filing, ensuring accuracy.
- Pro Tips: Provides 'snackable' pieces of information to help users understand tax codes and discover tax-saving strategies.
Support
- Xpert Assist: Offers unlimited sessions with a tax professional via call or chat for expert guidance and review before filing (available at an additional cost).
- Customer Support Hotline: Phone support for login, password, and account issues, with a high resolution rate on first call.
- Online Knowledge Base: Extensive library of articles and FAQs covering various tax situations and software usage.
- E-File Concierge: Provides phone support regarding federal e-file status changes.
Technical Specifications
- Architecture
- Cloud-native SaaS
- Deployment
- Cloud/SaaS
- Authentication
- MFA, Strong Password Rules, Device Verification
- API Available
- No
- MCP Server
- No
Infrastructure
- Microsoft Azure
AI/ML Stack
- Machine Learning
Integrations
- Banks
- IRS
Security & Compliance
Certifications: PCI DSS
Encryption: Industry-standard Secure Sockets Layer (SSL) protocol for data in transit; stored data is encrypted on secure servers.
Pricing
- Model
- Tiered subscription (consumer) / Pay-Per-Return or Bundle (professional)
- Starting Price
- Free to $74.99 for consumer products; State filing additional $39.99. Professional pricing varies (e.g., $159.99 for 1040 Pay-Per-Return Edition, $1145.00 for 1040 Bundle).
- Target Customer
- SMB, Individual Taxpayers, Tax Professionals
- Contract Type
- Annual (for tax year), Subscription
- Free Trial
- Yes, 30 days (for some offers) (credit card required)
About taxact
TaxAct is a U.S.-focused online tax preparation company that provides guided tax filing software and services for individuals, families, and small businesses. They offer tiered products including free federal filing and paid options with state returns, support, and add-on services as a SaaS/FinTech solution.