SOURCE: Petz Enterprises, Inc.

March 22, 2007 14:15 ET

TaxBrain.com® Sees Significant On-Line Tax Preparation Growth; IRS Already Paid More Than $102 Billion in Refunds to Early Filers

TRACY, CA -- (MARKET WIRE) -- March 22, 2007 -- Tax Day is April 17th this year, but rather than hold off until the last minute to file -- then wait weeks for a check from the IRS -- online-savvy taxpayers are receiving their cash now. In fact, as of March 9th, the IRS reports more than $102 billion has been refunded to taxpayers since it began accepting e-filed refunds on January 16th.

Craig Petz, Vice President of Petz Enterprises (http://www.petzent.com), whose TaxBrain.com (http://www.taxbrain.com) is the fastest growing online tax service, said, "For the first two months of 2007 online tax filings at TaxBrain.com are up 27 percent. Industry leader Intuit (http://www.intuit.com) will be reporting March 22. H&R Block (http://hrblock.com) reports early season gains as it continues to increase walk-in locations across the country."

The IRS also reported that e-filing from home computers is up 7 percent, with 78% of all returns so far being sent in electronically. Taxpayers opting for Direct Deposit, which speeds up receiving refunds, have already received more than $91 billion, up 8% over 2006.

Online Do-it-yourself Tax Preparation Costs less, is Easier than Pencil and Paper

"Taxpayers using an online service pay as little as $19.95 for a 1040EZ return, and less than $70 for the most complex returns. Online tax preparation provides significant savings compared to walk-in services, and compares very favorably with boxed software sold at retail outlets," explained Mr. Petz. "Taxpayers in cities with local taxes, such as New York, Cleveland and others, can also file their city income taxes directly from the TaxBrain.com site at no additional cost," he said.

"As the Internet continues to touch just about everyone's lives, we see only growth ahead for do-it-yourself online tax preparation. Being able to receive your tax refund as early as possible is making the traditional last-minute crunch of rushing to the post office literally a no-brainer," Mr. Petz concluded.

About TaxBrain.com Online Tax Service

TaxBrain.com is the consumer division of Petz Enterprises, Inc. It is the only web-based tax solution delivering online preparation, filing, professional assistance and representation in all 50 states. TaxBrain.com 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. For more information visit http://www.taxbrain.com/press.

About Petz Enterprises, Inc.

Petz Enterprises, Inc. (a closely held California corporation) is a software development company and 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, Tracy, CA-based PEI is dedicated to serving the need of the professional tax community and individual taxpayers worldwide. For more information, visit http://www.petzent.com

Contact Information

  • For further information contact:
    Craig Petz
    Petz Enterprises
    209-835-2720 ext 2007
    Email Contact
    -or-
    Steven Swartz
    978-524-9595
    Email Contact