TaxBrain Online Tax Center Ready To Help More than 8.5 million Late 2003 Tax Filers Avoid Penalties and Comply with August 16th Deadline

TRACY, Calif.--(BUSINESS WIRE)--Aug. 11, 2004--As the August 16th deadline filing for 2003 income taxes is almost here, TaxBrain(TM) Online Tax Center, the largest independent online tax service in the U.S., alerts the more than 8.5 million late-filing taxpayers that they can easily and securely prepare and file via the Internet before the deadline and avoid late filing penalties. According to Leroy E. Petz, Sr. President and CEO of Petz Enterprises, Inc., producers of TaxBrain, "More than 1 million unique visitors came to the TaxBrain site this year, a 40% increase. Nevertheless, there are still millions of taxpayers who have not filed, and time is running out to do so without incurring penalties and interest. If taxpayers are due refunds, waiting to file is actually costing them money."

"Why not e-file? More than 60 million Americans already have," said IRS Commissioner Mark W. Everson. "No matter what time of the year, e-filing is the fastest, safest, easiest way to do taxes. There are fewer errors, and taxpayers get their refunds in less than half the time of paper returns."

Mr. Petz added, "The IRS reminds taxpayers with extensions to file their returns by August 16 to avoid the late filing penalty, which is 5 percent per month of the unpaid tax. Electronic filing, such as offered by TaxBrain, takes minutes compared to the many hours preparing paper returns, and the taxpayer is guided through each step by a qualified tax expert available instantly at the taxpayer's fingertips. In addition to the time savings, e-filing is considerably less costly than walk-in tax services."

Taxpayers with special circumstances, such as hardships that prevent them from preparing and filing their tax returns by August 16, may request an additional two-month extension by completing IRS Form2688, available on the TaxBrain website, giving them until October 15 to file their income tax returns. These taxpayers will be granted an extension of time to file even if they cannot send in payment of outstanding 2003 taxes with the extension request.

About TaxBrain® Online Tax Center
TaxBrain is a full service online tax center providing tax advice, tools, and resources all year to help taxpayers manage their tax burden with greater confidence and ease. TaxBrain is the only web-based tax solution that delivers online preparation, filing, professional assistance and representation for taxpayers in all 50 states. Launched in 2000, TaxBrain delivers the vision of a fully integrated tax center that accommodates the schedule and needs of the busy American lifestyle. In 2002, TaxBrain emerged as one of the most popular services for online tax preparation and filing available on the web. For more information, visit www.taxbrain.com.

About Petz Enterprises, Inc.
Petz Enterprises, Inc. (a closely held California corporation, PEI) is a leading provider of tax preparation and filing solutions for the professional and consumer markets helping to automate and simplify federal, state and local tax compliance. PEI's CrossLink® line of professional tax software products enable tax practitioners and service bureaus to accurately prepare and file large volumes of individual tax returns. Founded in 1974, and based in Tracy, California, PEI is dedicated to serving the needs of professional tax practitioners and individual taxpayers nationwide. For more information, visit www.petzent.com.