TaxAct Features

Tax Preparation & Filing

Direct Deposit Options for direct deposit of tax refunds into bank accounts.
Federal & State Tax Filing Preparation and electronic submission of federal and state tax returns.
Multi-Year Filing Capability to file returns for multiple tax years, including prior periods.
Real-Time Calculations Instant updates on tax liabilities or refunds as data is entered.
Return Preview & Validation Review and validation of tax returns before submission to check for errors or omissions.
Tax Extension Filing Assistance in filing for extensions when additional time is required.
Automated Form Filling Auto-population of tax forms using imported data to minimize manual entry.
e-File Support Direct electronic submission to tax authorities.

Income & Deductions Management

W-2 & 1099 Import Importation of income data from W-2 and 1099 forms.
Self-Employment Support Management of income and expenses for freelancers and independent contractors.
Rental Income Management Handling of income and deductions related to rental properties.
Charitable Contributions Tracking and application of deductions for eligible charitable donations.
Medical & Educational Expenses Management of deductions related to medical costs and educational expenses.
Dependent Credits Calculation of credits and deductions for dependents.
Retirement Income & Contributions Handling of taxation on retirement income and contributions to retirement accounts.
Investment & Capital Gains Reporting Calculation of taxes on investment income, including stocks and bonds.

Compliance & Audit Support

Error Checking Identification of errors with accuracy guarantees.
Audit Assistance Provision of support and guidance in the event of an audit.
ID Validation Verification of taxpayer identification numbers.
Nonprofit Support Features tailored for non-profit organizations.
Tax Law Compliance Ensuring adherence to current federal and state tax regulations.
Automatic Updates Incorporation of the latest tax law changes automatically.
Audit Risk Assessment Evaluation of the likelihood of an audit based on return data.
Self-Employed & Gig Worker Compliance Ensuring proper reporting for self-employed individuals and gig workers.
Franchise Tax Compliance Assistance with state franchise tax requirements.

Business & Enterprise Features

Sales Tax Management Calculation and tracking of sales and use taxes.
Multi-State Support Handling of tax filings for businesses operating in multiple states.
Asset Depreciation Calculation of asset depreciation and tracking of fixed assets.
Business Tax Filing Preparation and filing for various business structures (C-Corp, S-Corp, LLC, Partnerships).
Payroll Tax Management Calculation and reporting of payroll taxes.
International Reporting Management of reporting requirements for international transactions.
Nexus Management Identification of tax obligations based on business presence in various jurisdictions.

Integration & Automation

E-Signature Integration Support for electronic signatures on tax documents.
Accounting Software Integration Seamless integration with accounting platforms like QuickBooks.
Financial Data Import Importation of financial data directly from banks and brokerage firms.
Estimated Tax Automation Calculation and scheduling of estimated tax payments.
API Integration Customization and integration capabilities with other software systems.
Third Party Integration Connections with additional third-party applications for extended functionality.

Security & Data Protection

Data Encryption Protection of sensitive information through encryption.
Two-Factor Authentication (2FA) Enhanced security with an additional verification step.
GDPR and CCPA Compliance Adherence to data protection laws like GDPR and CCPA.
Fraud Protection Implementation of multiple measures to prevent fraudulent activities.
IRS Security Standards Compliance with IRS regulations for secure electronic filing.
Data Backup Automatic backups and data recovery options.
Role-Based Access Control (RBAC) Role-based access to prevent unauthorized modifications.

Analytics & Reporting

Cryptocurrency Reporting Calculation of taxes on cryptocurrency transactions.
Tax Planning & Forecasting Provision of future tax projections to assist in planning.
Customizable Reports Generation and export of detailed tax reports tailored to specific needs.

Others

Document Management Organization and storage of tax-related documents with cloud storage options.
Team Collaboration Support for multiple users, such as accountants and team members, to work on the same tax return.
Paper Filing Option to print and file paper tax returns for users who prefer manual filing.

Brand Name	TaxAct Inc
Information	TaxAct helps everyday Americans get every tax advantage they deserve by finding credits and deductions they never even knew existed. Our tax preparation software offers easy guidance and ensures your maximum tax refund.
Founded Year	1998
Director/Founders	Lance Dunn
Company Size	101-500 Employees

TaxAct