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TaxAct Tax Season Ends Strong

The last two weeks of the tax season were stronger than expected, Blucora said this week. The company, which owns the TaxAct line, raised its forecast for the second quarter ending June 30 and for 2021.

Blucora had previously said tax software revenue would range from $82.5 million  to $87.5 million for the current quarter. It has increased that to $91.5 million to $93 million. The May 5 forecast for 2021 was $212.5 million to $218 million with the new forecast increased to $223.5 million to $226.5 million. With the tax deadline extended to May 17, revenue that normally was reported in the second quarter was pushed into the third quarter. Blucora did not state how much revenue was expected to be shifted. The company did not extend the forecast for its Avantax Wealth Management business from the original $631.5 million to $649.5 million. It made a slight adjustment to the third quarter estimate, originally $155.5 million to $161.5 million, raising the bottom of the range to $158.5 million

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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