NWA-PCUG Newsletter Article, November 2002
The Tax Man Cometh ( Again)...
and now is the time to select your tax program for the year 2002!
by Gilbert Jay
jay3rd@sbcglobal.net
(click to email author)


Last winter I reported on the features of TaxACT 2001. I was pleased with the program in Federal and Arkansas returns and had no entries questioned on either.

This year's program is already available, and you can get started by reviewing and responding to the initial questions. In this you receive detailed explanation of your proper selection of entries based on information which has been coordinated with the J.K. Lasser YOUR INCOME TAX reference.

Entries can be made into the question and answer area, or by direct entry into the TOP BAR icons for forms and/or IRS 1040 Sections directly.

If you used this program last year, your basic data is transferred to the 2002 version; information such as social security numbers, names and id numbers of your employers, loss carryforwards and depreciation expenses.

Entered data is constantly updating into the "bottom line". The program initially asks your approval to automatically back up the data when you go from one section to another. I find this function increasingly appropriate as the night hours get later.

The Federal form data can be easily transferred directly into the Arkansas State forms since income and dividends which are state sheltered are marked when entered.

Since the printed forms must look exactly like the Arkansas State and IRS's, printing is slow because it has to be graphically done.

GOOD: FREE! This comes as TaxACT Standard as a download from http://www.taxact.com.

It will prepare and print ONE hard copy of the IRS approved forms. It does not have all the advice. E-file costs $7.95. Arkansas State must be ordered for a cost of $12.95.

BETTER: TaxACT Deluxe $9.95 with one E-file free, state costs extra.

BEST: You would probably get the best bargain with the purchase of the "Ultimate TaxACT Bundle" for $19.95 which includes the Arkansas State return and allows one E-file each for Federal and State and unlimited printed copies.

My Advice: Download the FREE one now and try entering some data from LAST YEAR'S return. If you like it, go for the BEST [above].

The Internal Revenue Service this year is encouraging taxpayers to file electronically. They say it will greatly speed up refunds. The State of Arkansas will accept electronic filings this year.

Whatever you choose, do it now! The Release Date for the Federal is 15 January. But if you want to get started now, get the freebie and start in. When the real thing comes, it will incorporate all the information you have already done.

TaxACT 2002 is from 2nd Story Software. Contact is Cammie Greif at cammie@taxact.com

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