The American Taxpayer Relief Act of 2012, which was made into a law by President Obama on January 2, 2013, focuses on certain expiring provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001, as well as the Jobs and Growth Tax Relief Reconciliation Act of 2003. As a result, the act has required higher tax rates for those portions of society at the higher end of income levels.
In line with this act, TaxACT has revealed that the company has updated its tax forms and products. These updated forms and products help users in various aspects of filling 2012 federal and state tax returns, the company explained. TaxACT also helps improve the Answer Center, which provides step-by-step guidance to its users.
Users can buy TaxACT either as a software or Web-based product, where they can enter the data either in interview format or in forms-based entry method. The product also provides timely alerts to users, which helps them achieve maximum federal refund.
“We're debunking the myth that expensive tax filing solutions result in more accurate returns and bigger refunds," explained TaxACT President JoAnn Kintzelin a statement. "TaxACT has the expert guidance and resource tools consumers need to prepare their own taxes with complete confidence. The fastest path to your IRS refund is to take advantage of TaxACT's free e-file and choose direct deposit. You can also receive your refund on TaxACT's debit card for a fraction of the cost of other solutions.”
Along with taxpayers, the company has been offering various products for students too. Recently, it introduced the Student Loan Relief and Cash Prize Giveaway Sweepstakes, which allows participants to win a Grand Prize of a $5,000 Student Loan Relief Giveaway. It also allows participants to share the sweepstakes on social networking sites such as Facebook (News - Alert) and Twitter to make their friends and family aware of these opportunities as well.
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Edited by Allison Boccamazzo