PRENTICE HALL OFFERS 1040 ADVANTAGE INTERACTIVE INDIVIDUAL TAX PREPARATION
SOFTWARE

ATLANTA, May 5 -- Prentice Hall Professional Software, a leader in the
accounting software business for over 25 years and developer of the first
in-house tax package, offers 1040 Advantage, an interactive tax
preparation system based on government forms. Introduced last fall to a
limited number of users for processing their 1992 returns, 1040 Advantage
is the latest addition to The Prentice Hall Tax Advantage System, which
also offers business tax software solutions. 1040 Advantage gives tax
preparers a simple, comprehensive tool for individual tax return
completion.

1040 Advantage loads directly onto the tax preparer's system with minimal
steps and automatically checks disk and memory space. "1040 Advantage,
like all our Tax Advantage products, is designed for today's marketplace
where each preparer has a computer. The interface, with pull-down menus,
hotkeys and pop-up windows, is similar to other popular business software,
as well as our new Advantage line products. This means the software is
immediately familiar and much easier to learn," said Tax Products Manager
Eileen Lichtenfeld, CPA.

Calculation Highlights Highlights of possible calculations with 1040
Advantage include:

* Passive loss limitations, including full and partial
  dispositions, complete AMT recalculation, passive loss
  worksheets, and passive loss summaries for each activity.
* Automatic transfer for dispositions of depreciable assets.
* Alternative minimum tax preferences and adjustments.
* IRA and Keogh contribution calculations and limitations.
* Automobile expense schedule for Schedules C, F, rents, 
  and K-1s. 
* Options for both personal and business ownership percentages
  for rental properties, with non-business portions of applicable
  mortgage interest and taxes transferred to Schedule A. 
* Vacation home limitations.
* Optimization of lump-sum distributions.
* Net investment income and interest expense limitations.
* Section 179 limitations, including the trade or business income
  limits, cost basis, overall expense, and carryover amounts.

Multiple Return Capacity and Electronic Filing Capability

In addition to smaller returns, 1040 Advantage also handles more complex
returns and accommodates multiple schedules for rental properties, K-1s,
and installment sales. The system includes the optional EFile module for
electronic filing of tax returns. The easy-to-use feature offers clients a
reporting alternative and ensures the validity of transmitted returns.

Client Selection and Organizer Screens

Selection screens provide the tax preparer with client name, social
security number, and return status. The screens also offer brief user
comments for maximum control at quick reference. The on-screen organizer
allows clerical staff to key directly from the client-completed organizer,
conserving valuable professional staff entry time. 1040 Advantage also
supports on-line client interviews.

Convenient Review Tools

* Diagnostics compare client returns to IRS statistics and alert the tax
preparer to omitted or overridden items.

* Instant tax summary enables preparer to view overall results from any
form.

* Built-in tax planner and filing status comparison aids in planning
approach and filing option strategy. 

* Two-year comparison helps explain tax increases or decreases.

Other Preparer Tools 

1040 Advantage supports multiple preparers and most states, including many
part-year and nonresident computations. The system produces customized
letters and filing instructions and prepares billing invoices with flat
fee rates or different rates per form. The software provides the tax
preparer with a pop-up calculator, memo pad, and built-in loan
amortization calculator, as well as the ability to import client data
directly from Quicken and Pacioli personal checkbook programs.

System Requirements 

1040 Advantage is designed for LAN environments as well as a single PC,
compatible under DOS 3.1 or higher. The software requires 640K of RAM with
510K free. For a limited time, Prentice Hall is offering the 1992 version
of 1040 Advantage at the trial price of $19.95. The promotion also offers
the 1993 version at the renewal price of $395, a savings of $200 off the
list price.

Prentice Hall Professional Software was the first organization to introduce
accountants to the profitability of automated in-house tax preparation
with its venerable Software 1040 package, a batch entry system designed
for mid-range IBM computers as well as PCs.

The company is the leading supplier of tax, accounting, audit, and real
estate management software. It is a unit of Simon & Schuster's Business,
Technical, and Professional Group. Simon & Schuster is a Paramount
Communications company engaged in professional, consumer, and educational
publishing worldwide. Prentice Hall Professional Software can be contacted
at P.O. Box 723597, Atlanta, GA 31139, or by telephone at (800) 241-3306,
or (404) 432-1996 in Atlanta.

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