Tax ACT

TaxACT is a tax software that helps you complete and file Federal tax forms 1040, 1040A, 1040EZ with online and desktop software versions. It comes in five versions that cater to your specific tax needs: Free Federal Edition, TaxACT Deluxe, TaxACT Ultimate Bundle, TaxACT State, and TaxACT Home and Business.

TaxACT Free Federal Edition

The Free Federal Edition, as the name suggests, is TaxACT’s income preparation software that has no fees to e-file or print. TaxACT Free Federal Edition comes with:

• Accuracy and maximum refund guarantees
• Audit assistant (online written information)
• Compiles tax information required for student aid application (Free Application for Federal Student Aid)
• Email and online support
• PDF import previous year’s date from other tax preparation software like CompleteTax, H&R Block at Home, IRS Free File Fillable Forms, TaxSlayer, TurboTax and others.
• Schedule C and other complicated tax returns

Other versions which include extra income tax preparation features for personal and business returns are also available.

TaxACT Deluxe

TaxACT Deluxe desktop or online tax preparation software features everything that the Free Federal Edition has, plus the following:

• Donation Assistant to accurately claim tax deductible charitable donations
• GainsKeeper capital gains import
• Improved tax help with explanations of tax tips, year-end tax strategies, and tax law changes
• Import W-2 date from payroll providers
• Import tax date from previous year’s return (prepared with TaxAct)
• Joint vs. Separate return analysis
• TaxACT TaxWatch customized plan which aids in reducing the following year’s taxes owed
• TaxTutor which features expert tax guidance form JK Lasser

Ultimate Bundle

Ultimate Bundle includes federal and state tax return into one package. It provides savings of as much as $8 compared to buying separate TaxACT State and Free Federal Edition software. You can get the Online Ultimate bundle for the same price as TaxACT Deluxe Online state and federal returns.

TaxACT State

If you need to file state returns for at least 4 states, you can avail of this software for about $51.80. The downside is that it only works for Windows and there is no online counterpart. For 3 state returns, TaxACT state can be purchased for $14.95 for windows or $8 per state for the online alternative.

Tax ACT Home and Business

This version combines Deluxe and State with TaxACT 2010 Business 1065, 1120S or 1120. Use this if you are self-employed with a home office and other business-related ax deductions and do not run under a partnership, S-Corporation or C-corporation.

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