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Overview
Taxwell combines Drake Software and TaxAct to offer digital tax filing for both tax professionals and DIY filers. It provides downloadable and cloud-based software to prepare federal and state tax returns (forms such as 1040, 1065, 1120, 1120S, 1041, 990, 706) and supports e-filing, multi-state filing, practice management, and customizable client billing for professionals. For DIY users, TaxAct guides the filing process to maximize credits and refunds with straightforward software. Integrated services include Drake Pay for payments and audit defense via Protection Plus. The company serves over 90,000 tax professionals and more than 3 million DIY filers, with Drake Software serving about 70,000 firms that file over 36 million returns annually. Taxwell is owned by private equity firm Cinven and aims to deepen its position in the US tax software market by offering both professional-grade tools and consumer-friendly filing options under two established brands.
About Taxwell
Industries
Consumer Software
Enterprise Software
Fintech
Financial Services
Company Size
51-200
Company Stage
N/A
Total Funding
N/A
Headquarters
Franklin, North Carolina
Founded
N/A
Simplify's Take
What believers are saying
- Professional segment insulated from IRS Direct File by high switching costs.
- Drake's 50-year heritage and award-winning support retain enterprise tax firm loyalty.
- Cloud-based infrastructure enables cross-selling opportunities between professional and DIY segments.
What critics are saying
- IRS Direct File diverts 5-10M DIY filers, reducing TaxAct consumer revenue 20-30%.
- TurboTax's 40% DIY market share and free promotions erode TaxAct's 10-15% position.
- Cinven cost-cutting triggers talent exodus and product stagnation across 1,000-person workforce.
What makes Taxwell unique
- Dual-brand strategy serves 90,000+ professionals and 3M DIY filers simultaneously.
- Drake Software files 36M+ returns annually with 70,000+ firm customer base.
- Integrated suite includes e-filing, practice management, and payment processing capabilities.
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Benefits
Remote Work Options
Taxwell is Hiring for 26 Jobs on Simplify!
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About Taxwell
Industries
Consumer Software
Enterprise Software
Fintech
Financial Services
Company Size
51-200
Company Stage
N/A
Total Funding
N/A
Headquarters
Franklin, North Carolina
Founded
N/A
Taxwell is Hiring for 26 Jobs on Simplify!
Find jobs on Simplify and start your career today