Free tax software

We received this announcement this week:

2nd Story Software® has released TaxACT 2011 Free Federal and Deluxe Editions. TaxACT is the only year-round Web-based federal tax planning and preparation solution, releasing preview versions in October and final versions in early January.

"Preview versions of TaxACT give taxpayers an edge in year-end tax planning and savings," said Lance Dunn, President of 2nd Story Software. "TaxACT calculates 2011 taxes and alerts users of potential savings that require action by December 31."

Tax legislation passed at the end of 2010 makes year-end planning more important this year. "The legislation impacts 2011 returns, but when the laws were passed, taxpayers were naturally focused on changes affecting 2010 returns they were about to file," said Dunn. "TaxACT's federal interview shows users where they can still save money on their 2011 return."

Use of TaxACT 2011 Free Federal Edition and Deluxe preview versions is free. Everyone can prepare, print and e-file their federal taxes free with Free Federal Edition. Deluxe desktop users don't have to pay until final versions are released in early January, and Online Deluxe users don't have to pay until they print or e-file their return.

TaxACT makes tax calculations, year-end planning and early preparation of 2011 returns fast and easy:

• Eliminate errors and save time by importing key data from last year's return with Express Import™ options.
• TaxACT Life Events guide you through the tax implications of more than 35 events, including natural disasters, filing for the first time, college and unemployment. Deluxe Life Event Tips provide key tax information and reminders throughout the interview.
• Tax and technical answers are available every step of the way in the enhanced Answer Center. Access the expanded Tax Glossary through nearly 300 linked terms throughout the interview.
• Enhanced Bookmarks make tax planning and early preparation of returns even easier. Add a personalized Bookmark to any interview question and return to it whenever you want with a single click.
• More money and time-saving tools are included in Deluxe. In addition to importing last year's TaxACT return, Donation Assistant® helps maximize tax savings for non-cash donations with audit-backed values for more than 1,300 household items. Tax Calculator shows how changes to various parts of your tax return can affect 2011, 2012 and 2013 federal taxes without actually changing data in the return.

Everyone who registers for or purchases TaxACT Deluxe or Ultimate Bundle (Deluxe + State) before January 1, 2012 receives free tax and technical phone support for the 2011 tax year upon product payment. Online users also lock in a 20% discount by registering early.

All information entered or imported into preview versions will automatically transfer to final versions releasing in early January. Final versions will include any last-minute tax law changes, final IRS forms, and several new and enhanced features. The IRS will begin processing e-filed returns in mid-January.

State editions will also begin releasing in early January as forms become available. In the meantime, 2nd Story Software will soon announce a mobile application with useful tax tools and information for TaxACT users.