TaxAct is an American tax preparation software package. It 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.
In October 2010, H&R Block said it would pay $287.5 million in cash to acquire the parent firm of TaxAct. In May 2011 the U.S. Department of Justice attempted to stop the acquisition in an antitrust lawsuit. In November 2011, a federal judge sided with the Justice Department, and both companies mutually terminated the contract.
- Members of Free File Alliance (2011)
- "U.S. Seeks to Halt H&R Block's Deal for Rival". The New York Times. May 23, 2011.
- 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
- United States v. H&R Block, Inc., 2SS Holdings, Inc., and TA IX L.P., Memorandum Opinion (November 10, 2011)
- M&A: January 9, 2012