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AI Insights · Timothy · April 2021
Top 5 Tax Prep Apps in the US: Q1 2021 Performance Review
A Sensor Tower analysis reveals the Q1 2021 performance of the top tax preparation and planning applications in the United States. Trends show varying downloads and user engagement across the leading apps.
As the tax season ramps up, Americans are increasingly turning to mobile applications for tax preparation and planning. Sensor Tower has provided a snapshot of the performance of the top five tax-related applications in the United States for the first quarter of 2021.
The IRS2Go app saw a peak in downloads in February, reaching over 600K, before tapering down to around 280K by the end of March. The weekly active users followed a similar trend, peaking at approximately 3.9M in late February and declining to around 3.2M by March's end.
Intuit Inc.'s TurboTax: File Your Tax Return app experienced substantial growth in revenue, which surged from a modest $16K in late December to over $800K weekly in February, before settling to around $520K in the last week of March. Downloads for this app reached their zenith in February with over 500K, subsequently decreasing to just under 133K by the end of the quarter. The weekly active users showed a similar pattern, with a peak of 1.7M in early February, decreasing to 1.2M by the end of March.
MyBlock, offered by HRB Tax Group, Inc., had no reported revenue, but downloads showed an upward trend in early February, reaching over 110K, and then a decrease to approximately 41K by the end of March. Weekly active users peaked at over 200K in the middle of March, subsequently dropping to around 130K.
H&R Block Tax Prep: File Taxes, another HRB Tax Group, Inc. application, showed modest revenue throughout the quarter, with the highest reported revenue being $262 in mid-March. Downloads peaked at nearly 49K in early February and fell to just under 10K by the end of March. Active users saw a rise until mid-February with over 30K, which then declined to around 13.6K by the quarter's end.
Lastly, the TaxCaster: Tax Calculator by Intuit Inc., which also reported no revenue, saw a steady decrease in downloads from approximately 23K in late January to about 3.4K by the end of March. Active users peaked at over 20K in late January and fell to around 13K by March's close.
These figures provide a clear view of the trends among top tax preparation and planning applications in the United States for Q1 2021. For more insights and in-depth analysis, visit Sensor Tower.
