The TaxAct Class Settlement totals $14.95 million and eligible users who filed taxes with TaxAct between 2018 and 2022, can receive around $18.65 per person. The deadline to submit claims is September 11, 2024, with payouts expected to begin after the final approval hearing on November 21, 2024.
TaxAct Class Settlement
The TaxAct Class Settlement refers to a class-action lawsuit against TaxAct, a tax preparation software company. The plaintiffs alleged that TaxAct violated privacy laws, leading to this class action lawsuit. As a result, affected customers may be eligible for a payment from the settlement fund.
This settlement addresses claims made by users who utilised TaxAct’s online federal tax filing service between January 1, 2018, and December 31, 2022. The settlement provides for a total payment of $14.95 million, which will be distributed among eligible class members. The amount each person receives will depend on the number of valid claims submitted.
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TaxAct Class Settlement Eligible Criteria
The eligibility criteria for the TaxAct Class Settlement are specific and cover a defined group of individuals. This includes two main classes of individuals with the same specified period.
- Specified Period: To be eligible for compensation under this settlement, you must have used TaxAct’s online do-it-yourself consumer Form 1040 tax filing product and filed a tax return between January 1, 2018, and December 31, 2022.
- Nationwide Class: This class includes all natural persons who used TaxAct’s online Form 1040 tax filing product and filed a tax return during the specified period, with a postal address listed on their tax return in the United States.
- Nationwide Married Filing Jointly Class: This class includes all natural persons whose spouses used TaxAct’s online Form 1040 tax filing product and filed a joint tax return during the same period, with a postal address listed on the joint tax return in the United States.
- ]California Subclasses for Nationwide and Joint Filers: Additionally, there are subclasses for individuals whose postal address listed on their tax returns was in California. These subclasses are part of both the Nationwide Class and the Nationwide Married Filing Jointly Class.
TaxAct Class Settlement Per Person Payout Amount
TaxAct will establish a Settlement Fund of $14,950,000.00, with up to $2,500,000 for Notice and Administration Costs. The Settlement Fund will cover valid claims, expenses, attorney fees, and costs for Settlement Class Members, up to $5,800,000.00.
TaxAct will also provide Xpert Assist to those who submit valid Claim Forms and prepare 2024 tax returns using any TaxAct online do-it-yourself consumer Form 1040 filing product. You are a Settlement Class Member eligible for cash payment and TaxAct Xpert Assist for your 2024 tax return, but excluded unless you file a timely claim form.
TaxAct Class Settlement Payout Start Date
The payout process for the TaxAct Class Settlement will commence after the final approval hearing, which is scheduled for November 21, 2024. During this hearing, the court will review the settlement terms and decide whether to grant final approval. If the settlement is approved, the distribution of payments to eligible class members will begin shortly thereafter.
It’s important to note that the exact timing of the payouts can vary based on several factors, including the number of claims submitted and any potential appeals or objections that might delay the process. Therefore, while the settlement administrator aims to distribute the payments as promptly as possible, some delays might occur.
To stay informed about the status of the settlement and the payout timeline, class members should regularly check the official settlement website or contact the settlement administrator for updates. This will ensure that you are aware of any changes or important announcements regarding the payout process.
TaxAct Class Settlement Key Dates
The TaxAct Class Settlement has several key dates that are crucial for eligible class members to keep in mind. The deadline to submit a claim form to receive a cash payment and access to TaxAct Xpert Assist for the 2024 tax year is September 11, 2024.
If you wish to exclude yourself from the settlement, you must do so by the same date, September 11, 2024. For those who want to object to the settlement terms, the deadline to file an objection is August 12, 2024.
The final approval hearing, where the court will decide whether to approve the settlement, is scheduled for November 21, 2024. These dates are essential for class members to act upon to ensure they receive the benefits or exercise their rights under the settlement agreement.
TaxAct Class Settlement Filing Claim Process
To file a claim for the TaxAct Class Settlement, follow these detailed steps to ensure your submission is complete and timely:
- Visit the official settlement website at TaxAct Class Settlement. Here, you can find the claim form that needs to be filled out online. The form is also available for download in PDF format.
- Fill out the claim form with accurate information. You will need to provide details such as your name, address, email, and the years you used TaxAct’s services. Ensure all information is correct to avoid any delays or issues with your claim.
- You have two options for submitting your completed claim form:
- Online Submission: You can submit the form directly through the settlement website. It’s the most rapid and streamlined approach.
- Mail Submission: Alternatively, you can mail the completed and signed form to the following address:
- Smith-Washington v. TaxAct Inc. c/o Kroll Settlement Administration LLC PO Box 225391 New York, NY 10150-5391
- After submitting your claim, you should receive a confirmation email or letter. Keep this confirmation for your records. If you do not receive a confirmation, contact the settlement administrator to verify that your claim was received.
What will be the result of resolving TaxAct Class Settlement?
The TaxAct Class Settlement will provide financial compensation to eligible class members who used TaxAct’s online tax filing services between 2018 and 2022, addressing privacy concerns and a total settlement of approximately $14.95 million.
Additionally, the settlement includes non-monetary benefits. Class members will gain access to TaxAct Xpert Assist for their 2024 tax returns at no extra cost. This service offers professional assistance, which can be particularly valuable during the tax filing process, ensuring accuracy and potentially maximizing refunds.
TaxAct’s settlement avoids litigation uncertainties and expenses, restoring customer trust and addressing user concerns, despite acknowledging no wrongdoing, thereby demonstrating a willingness to rectify issues.
Overall, the settlement provides a structured resolution that compensates affected users, offers additional support for future tax filings, and allows TaxAct to focus on its business operations without the distraction of continued legal challenges.
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