For Immediate Release

TaxWise annouces a record tax season

10 million e-filed returns with 100% uptime

ROME , GA — TaxWise had a record tax season in 2006, with continued customer growth, successful new products and nearly 10 million electronically filed returns.

The announcements came as TaxWise concluded its 20th year of operation.

“This was a successful year for TaxWise and our customers,” said TaxWise CEO Bill Anderson. “We launched a number of new products and services that made it easier for the tax professionals using our programs to serve their clients.”

Among this season’s initiatives were:

• New software tools , including seamless K-1 imports from business returns directly into 1040 returns, greatly enhanced fixed asset and depreciation management and improved analysis of married filing jointly vs. married filing separately scenarios. Feedback from tax professionals was uniformly positive.
• A new FeeCollect™ service that enabled tax professionals to deduct their fees directly from client refunds. Thousands of taxpayers used this service to quickly and easily pay their fees.
• An improved CashWise® card that allowed taxpayers to receive their refunds on a stored-value card that could be used at 2.3 million ATM and retail locations. Distribution of the CashWise card increased 25% in 2006.
• A redesigned user interface for TaxWise tax preparation software to make data entry faster and easier and to provide more information, including context-sensitive tax help, to the tax professional.

“The 2006 tax season was another record year,” said Anderson. “We believe that our ongoing technology investment along with innovative new products and enhancements to our current product line will ensure that our customers can continue to grow their revenues and profits along with us.”

*****

About TaxWise : Universal Tax Systems, Inc. (UTS), established in 1986, publishes TaxWise tax preparation and accounting software and provides e-filing and transaction processing services to the tax and accounting industry. The Rome, GA, company's products and transactional services are used by more than 75,000 professionals. TaxWise is also used at more than 8,400 IRS assistance sites to prepare more than 1.6 million tax returns for low income, elderly and limited-English taxpayers.