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Quick Facts
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Press Room |
TaxBrain Quick Facts
TAXBRAIN ONLINE
- TaxBrain was first launched in 2000 and has become the fastest growing tax center on the web - experiencing a 30% increase in the last year.
- TaxBrain is the largest independently owned and operated online tax preparation service in the U.S.
- TaxBrain is the third largest online tax preparation center following TurboTax for the Web and H&R Block Online Tax.
- TaxBrain delivers preparation and filing services for Federal and State individual income tax returns, tax payment and fast refund processing.
- TaxBrain's parent company, PEI, was awarded the original contract by the State of California to develop the e-filing system for the California Franchise Tax Board.
- Most TaxBrain clients are able to complete and file their federal and state tax returns in about 40 minutes.
- Petz Enterprises projects that online tax preparation will become the dominant method of " do-it-yourself " tax preparation by the end of the decade.
- Online tax preparation and filing first appeared in 2000. In 2003, over 5% of all federal individual income tax returns were prepared and filed online.
- In 2003, 132 million Federal returns were filed - 6.9 million were prepared online.
- In 2003, approximately 10 million units of personal tax software were sold in the US.
- 40% of Americans, or 53 million, prepare their own tax return. We call this the "Do It Yourself" market. Online preparation accounted for 13% of the DIY market.
- TaxBrain projects that Online sales will exceed packaged software unit sales in 2005.
