{{Short description|American tax preparation company}} {{about|the company|information on tax legislation|Tax law}} {{Infobox company | name = TaxAct Holdings, Inc. | former_name = 2nd Story Software <br/>(1998-2013) | logo = 200 px|TaxAct Logo | type = Private | industry = Software | fate = | predecessor = <!-- or: | predecessors = --> | successor = <!-- or: | successors = --> | founded = {{Start date and age|1998}} in Cedar Rapids, Iowa, United States | founders = {{unbulletedlist|Lance Dunn|Cammie Greif|Jerry McConnell|Alan Sperfslage}} | defunct = <!-- {{End date|YYYY|MM|DD}} --> | hq_location_city = | hq_location_country = | area_served = United States, Canada | key_people = Curtis Campbell (President) | products = | num_employees = 300 | num_employees_year = 2021 | owner = Cinven | website = [https://www.taxact.com/ taxact.com] }} '''TaxAct Holdings, Inc.''' is an American tax preparation software company based in Cedar Rapids, Iowa. The company offers its own software package "TaxAct" to individual tax registers, companies and professional affiliates. The company was founded in 1998.
== History == TaxAct Holdings, Inc. was founded in 1998 as ''2nd Story Software'' by Lance Dunn, Jerry McConnell, Cammie Greif, and Alan Sperfslage.<ref>{{cite journal|title=2nd Story's Tax Software: A Class ACT|journal=PC Magazine|date=March 9, 1999|page=42|issn=0888-8507}}</ref><ref name="thegazette">{{cite web|author1=Sarah Binder|title=Cedar Rapids' TaxACT went from David to Goliath|url=http://www.thegazette.com/2014/04/03/story-of-taxact|website=The Gazette (Cedar Rapids)|accessdate=3 April 2018|date=April 3, 2014}}</ref>
In 2000, a cloud-based version of TaxAct software was released.<ref name="thegazette"/> In 2004, TA Associates, a private equity firm based in Boston, acquired two-thirds of the company for $89 million.
In October 2010, H&R Block said it would pay $287.5 million in cash to acquire the parent firm of TaxAct.<ref>{{cite web|author1=Tom Taulli|title=H&R Block Gets Serious About Digital with Purchase of TaxACT|url=https://www.aol.com/2010/10/14/handr-block-gets-serious-about-digital-with-purchase-of-taxact/|website=AOL|accessdate=3 April 2018|date=October 14, 2010}}</ref> In May 2011 the U.S. Department of Justice attempted to stop the acquisition in an antitrust lawsuit.<ref>{{cite web|title=U.S. Seeks Halt To H&R Block Deal for Rival|url=https://www.nytimes.com/2011/05/24/business/24block.html|website=The New York Times|accessdate=3 April 2018|date=May 23, 2011}}</ref><ref>[https://www.justice.gov/opa/pr/2011/May/11-at-661.html Justice Department Files Antitrust Lawsuit to Stop H&R Block Inc. from Buying TaxAct]; Deal Would Substantially Reduce Competition in Sale of Digital Do-It-Yourself Tax Preparation Products and Result in Higher Prices and a Reduction in Innovation and Quality, Department of Justice, Office of Public Affairs, Press Release, May 23, 2011</ref> In November 2011, a federal judge sided with the Justice Department, and both companies mutually terminated the contract.<ref>{{cite web|author1=Eileen Aj Connelly|title=H&R Block drops TaxACT buy after antitrust ruling|url=https://www.seattletimes.com/business/hr-block-drops-taxact-buy-after-antitrust-ruling/|publisher=The Seattle Times|accessdate=3 April 2018|date=November 15, 2011}}</ref><ref>[https://www.justice.gov/atr/cases/handrblock.html United States v. H&R Block, Inc., 2SS Holdings, Inc., and TA IX L.P.], Memorandum Opinion (November 10, 2011)</ref>
In January 2012, 2nd Story Software was sold to Seattle-based Blucora (formerly Infospace, Inc.) for more than $287 million.<ref>{{cite web|title=InfoSpace Buys Online Tax Solutions Company TaxACT For $287.5M In Cash|url=https://techcrunch.com/2012/01/09/infospace-buys-online-tax-solutions-company-taxact-for-287-5m-in-cash/|website=TechCrunch|accessdate=3 April 2018|date=January 9, 2012}}</ref><ref>{{cite web|author1=Dave DeWitte|title=InfoSpace taking new direction with TaxAct acquisition|url=http://www.thegazette.com/2012/01/09/infospace-taking-new-direction-with-taxact-acquisition|website=The Gazette (Cedar Rapids)|accessdate=3 April 2018|date=January 9, 2012}}</ref><ref>{{cite web|title=InfoSpace to buy TaxACT for $287.5 million|url=https://www.seattletimes.com/business/infospace-to-buy-taxact-for-2875-million/|website=The Seattle Times|accessdate=3 April 2018|date=January 9, 2012}}</ref> In 2013, the name was officially changed to TaxAct Holdings, Inc. Subsequently, in October of the same year, TaxAct acquired Balance Financial, the company that specializes in personal finance tools and services.<ref>{{cite web|author1=John Cook|title=TaxAct bolsters personal finance tools with Balance Financial buy|url=https://www.geekwire.com/2013/taxact-buys-balance-financial-bolsters-personal-finance-tools/|website=GeekWire|accessdate=3 April 2018|date=October 4, 2013}}</ref>
In 2018, former Intuit executive Curtis Campbell was appointed as the President of the company. He led the company until 2023.<ref>{{Cite web|url=https://www.fool.com/earnings/call-transcripts/2018/10/31/blucora-inc-bcor-q3-2018-earnings-conference-call.aspx|title=Blucora Inc (BCOR) Q3 2018 Earnings Conference Call Transcript -|last=Transcribers|first=Motley Fool|date=2018-10-31|website=The Motley Fool|language=en|access-date=2018-12-25}}</ref><ref name="HRBIR">{{cite web |author=<!-- not stated --> |date=11 August 2025 |title=H&R Block, Inc. Announces Leadership Succession Plan |url=https://investors.hrblock.com/news-releases/news-release-details/hr-block-inc-announces-leadership-succession-plan |website= |location=Kansas City, Missouri |publisher=HRB Digital LLC |access-date=31 January 2026}}</ref><ref name="SEC">{{cite web |author=<!-- not stated --> |date=7 August 2025 |title=Form 8-K Current Report |url=https://www.sec.gov/Archives/edgar/data/12659/000110465925076182/tm2523074d1_8k.htm |website=SEC |location=Washington, DC |publisher=United States Security and Exchange Commission |access-date=31 January 2026}}</ref><ref name="LinkedIn-Campbell">{{cite web |author=<!-- not stated --> |date= |title=Curtis Campbell profile |url=https://www.linkedin.com/in/curtisacampbell |website= |location= |publisher=LinkedIn |access-date=31 January 2026}}</ref>
TaxAct is a member of the Free File Alliance, a free federal tax preparation and electronic filing program for eligible individual taxpayers developed through a partnership between the IRS and a group of private sector tax software companies.<ref>[https://apps.irs.gov/app/freeFile/jsp/index.jsp?ck Members of Free File Alliance (2011)]</ref>
In November 2022, private equity firm Cinven agreed to acquire TaxAct for about $720 million. Cinven announced it would combine TaxAct's business with Drake Software, which it acquired the previous year, under a single holding company.<ref>{{cite web |last=Lawler |first=Ryan |date=1 November 2022 |url=https://www.axios.com/pro/fintech-deals/2022/11/01/cinven-acquires-taxact |title=Cinven acquires TaxAct for $720M |website=Axios |url-access=subscription}}</ref>
== Product overview == TaxAct offers United States tax preparation software for individuals, small businesses, and tax professionals.
In March 2018 TaxAct Online Freelancer Edition was awarded the title of "The best tax software for independent contractors" by Business Insider.<ref>{{cite web|author1=Kyle Schurman|title=The best tax software you can buy: TurboTax, H&R Block, and TaxAct|url=http://www.businessinsider.com/best-tax-software/#the-best-tax-software-for-investors-and-rental-owners-3|website=Business Insider|accessdate=3 April 2018|date=March 26, 2018}}</ref>
== References == {{Reflist}}
== External links == * [https://www.taxact.com/ Official website] * [https://www.taxact.com/applications/free-file/ TaxAct IRS Free File Program]
Category:Financial services companies established in 1998 Category:Tax software of the United States Category:2012 mergers and acquisitions Category:American corporate subsidiaries Category:2022 mergers and acquisitions