Block takeover of TaxAct...blocked

[FEDUKE404]

I guess Block cannot take out ALL of the competition??

H&R Block, which has said the deal would improve its products and create low-cost alternatives for customers...

[Federal judge] granted a permanent injunction, saying the "evidence before the court, including documents and factual and expert testimony" showed the proposed purchase violated antitrust law.

http://www.bloomberg.com/news/2011-10-31/h-r-block-purchase-of-taxact-maker-blocked-by-federal-judge.html?cmpid=yhoo

FE

[appelman]

Good news!

I especially liked the fact that TaxAct “'disrupted' the...market with low prices and product innovation."

[erchess]

Interesting Argument

I think it's interesting to ask which view of the total market is correct, if either. The way I read the report, the Justice Department wanted, and the court agreed, to define the market as the population using electronic methods to self prepare their taxes. HRB appears to have argued that the market is at the very least all self preparers and I think also those who turned to professionals. I would imagine that HRB will appeal the decision but the process of working that out could take years.

[taxxcpa]

Tax Act

The Tax Act professional version is a very good program. I used it one year to do something ATX was unable to do properly. I would have switched to Tax Act if they had a Texas Franchise Tax program. Now they have the Texas program. However they charge for e-filing so I am better off using Drake.

When I retire, I may switch to the Tax Act Professional version to prepare my own return and a few that I do at no charge.