I know this group doesn't generally address software specifics, but I thought this might be of interest.
HR Block has reached an agreement with Second Story to acquire TaxACT for $287.5 million in cash.
While as a TaxAide volunteer I've been using TaxWise for the past five years, I used TaxACT before that and liked it a lot. I hope HRB doesn't ruin it.
-- Rich Carreiro snipped-for-privacy@rlcarr.com
Per HRB's press release, they are going to offer both digital brands (H&R Block At Home, TaxAct) but have the business unit managed by the TaxAct execs.
-Mark Bole
I'm contemplating a change for fear that Block will get hold of my data base using it to enhance its own business at the expense of mine!!! Although TaxAct offers a feature to back up my returns, I have never used that resource for the very same reason.
I am really disappointed and upset to hear this.
Once upon a time there was a company called Parsons that had a nice little tax program they called Personal Tax Edge that must have been threatening Turbo Tax (it was better) so Intuit bought Parsons, kept PTE for one year, then dumped it and sold everything else except a legal program Parsons had called "Its Legal" to Broderbund. Word is the brains behind PTE had a 5 year non-compete clause but after 5 yrs passed they developed TaxAct. I have used TA since year one.
I was using Lacerte REP for most of my clients but used PTE and then TaxAct for my most basic clients. Then Intuit bought Lacerte and as they have been jacking their REP prices up every year, I have been migrating more and more of my clients to TaxAct. Right now I use Lacerte for 1041s and clients who have many complicated partnerships,and lots of rentals and or depreciation.
As the years have passed, I kept hoping that Intuit would not buy out the competition again . . .
~ Barbara
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