Who cares.com: "GILMAN+CIOCIA)(GTAX) Gilman + Ciocia Acquires Tax Preparation Web Site "e1040.com"
Business Editors
GREAT NECK, N.Y.--(BUSINESS WIRE)--Jan. 27, 1999--Gilman + Ciocia Inc. (NASDAQ:
GTAX) announced today an agreement in principle to acquire e1040.com, a tax preparation web site.
e1040.com is based in Tempe, Ariz. Terms of the transaction have not been disclosed.
Commenting on the acquisition, Tom Povinelli, chief operating officer of Gilman + Ciocia Inc., said,
"the company's acquisition of e1040.com is the first step in what we hope will be an aggressive
campaign to substantially increase our on-line presence as we approach the next millenium. In the
future, more and more people will use the Internet to manage their financial affairs and having tax
returns prepared on-line is the natural progression of that trend."
Ben Humphreys, founder of e1040.com, commented, "Gilman + Ciocia's tax and financial planning
infrastructure combined with our knowledge of Internet and e-commerce will offer customers a
compelling alternative to the bricks-and-mortar tax practice."
Gilman + Ciocia's e1040.com will also offer an "Ask the Tax Expert" service where visitors can
obtain fast answers to their tax questions via e-mail as well as a "Quickie Tax Calculator" and "Forms
by Fax" services. In keeping with its long-standing tradition of offering financial advisory services to its
tax clients, Gilman + Ciocia Inc. also plans to offer its e1040.com visitors a free consultation on
financial planning tools and other resources.
Gilman + Ciocia Inc. is the first publicly traded company to combine financial planning and tax
preparation services. Headquartered in Great Neck, Gilman + Ciocia now has over 100,000 clients
with 135 offices in fifteen states.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current
management expectations that involve risks and uncertainties that may result in such expectations not
being realized. Potential risks and uncertainties include, but are not limited to, the risks described in
filings with the Securities and Exchange Commission." |
