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Personal Finance Taxes Tax Software
Written by Tanza Loudenback and Brynne Conroy; edited by Richard Richtmyer
2024-03-06T18:17:57Z
- Who Is TaxSlayer Best For?
- TaxSlayer Details
- How Much Does TaxSlayer Cost?
- How Does TaxSlayer Work?
- TaxSlayer Frequently Asked Questions
- Compare TaxSlayer
- Why You Should Trust Us: How We Rated TaxSlayer
Our experts answer readers' tax questions and write unbiased product reviews (here's how we assess tax products). In some cases, we receive a commission from our partners; however, our opinions are our own.
TaxSlayer
On TaxSlayer's website
Insider’s Rating
4.6/5
Perks
TaxSlayer offers one free federal and one state return with its TaxSlayer Simply Free.
Fees
up to $62.95 for federal tax return and an additional $39.95 for state tax return
Pros
- Strong option for self-employed filers
- Low price — comparable self-employed packages at H&R Block and TurboTax are more than 2x the cost
- All packages include phone and email support
- Self-employed package includes on-demand access to a tax professional
- Simple and clean interface
- Ability to set up reminders to pay estimated quarterly taxes throughout the year
- Filers with any type of tax situation who meet AGI limits can use the IRS Free File program to file a federal return, and maybe a state return, with TaxSlayer at no cost
Cons
- Free version advertised on its website does not include earned income tax credit or child tax credit
- Interface isn't as intuitive as H&R Block or TurboTax
Insider’s Take
TaxSlayer is a good budget option for people who don't need a lot of assistance when filing their taxes and can be a great value for self-employed filers. However, the interface can be a bit clunky, and the free and lower-cost packages might not have all the features you need.
Product Details
- Choose direct deposit for your refund and e-file your return to get your fastest refund possible.
- Everyone gets free, unlimited phone and email support. And if you need more help, we have you covered from Ask a Tax Pro to Audit Defense.
- Download free app for tax filing, resources, news, and tips at your fingertips.
- Guaranteed maximum refund
- 100% accuracy guaranteed
- Zero out-of-pocket fees
Who Is TaxSlayer Best For?
TaxSlayer's biggest draw is price. If you know what you're doing, don't need much assistance, and have all your information ready to go, TaxSlayer is a strong low-cost option for filing taxes.
Anyone who doesn't have either a straightforward, simple tax situation (i.e. someone who earns only W-2 income) or experience filing more complicated taxes (i.e. a longtime self-employed filer) might run into trouble with TaxSlayer.
TaxSlayer customer support is somewhat limited. Yes, you can access customer service through email or phone with the Simply Free and Classic plans. But to receive live chat support, priority support, or Ask a Pro support, you'll have to upgrade to the Premium or Self-Employed plans.
See Personal Finance Insider's picks for the best tax software >>
TaxSlayer Details
- Cost of DIY filing: $0 - $62.95 (+$39.95 per state return)
- Four different plans
- Completely free option for those who qualify, including state returns, for simple tax situations at any income level
- Free version covers: For AGI above $73,000: W-2 income; unemployment income; tuition and fees deduction; student loan interest deduction. For AGI below $73,000: everything
TaxSlayer Pros & Cons
How Much Does TaxSlayer Cost?
TaxSlayer is less expensive than competing tax prep services. It's better for people who either have a simple tax situation or are comfortable with the tax-filing process.
- Simply Free: $0 for qualified customers. For simple returns, including W-2 income, unemployment income, tuition and fees deduction, and the student loan interest deduction. Includes one free state return. You won't be able to import your W-2 digitally. You'll have to either enter the information manually or upgrade to the Classic plan.
- Active duty members of the military can file a free federal and state return in any tax situation with no restrictions.
- Classic: $32.95. TaxSlayer's most popular plan because it can be used for almost any tax situation. If you feel confident filing your taxes with minimal guidance, this is the most cost-efficient package. It includes W-2 import or PDF upload.
- Premium: $52.95. Everything included in the Classic plan, plus access to advanced customer support features, including live chat technical support, front-of-the-line privileges for email and phone support with tax professionals, and three years of IRS audit support. This is great for people with complicated situations who need a little help along the way.
- Self-Employed: $62.95 Self-employed filers can use the Classic or Premium plans to file, but this plan sets up the interface to take you through self-employment taxes specifically. This plan is much cheaper than self-employed products from other large tax prep companies and includes one-on-one help from a tax professional.
TaxSlayer
On TaxSlayer's website
Insider’s Rating
4.6/5
Perks
TaxSlayer offers one free federal and one state return with its TaxSlayer Simply Free.
Fees
up to $62.95 for federal tax return and an additional $39.95 for state tax return
Pros
- Strong option for self-employed filers
- Low price — comparable self-employed packages at H&R Block and TurboTax are more than 2x the cost
- All packages include phone and email support
- Self-employed package includes on-demand access to a tax professional
- Simple and clean interface
- Ability to set up reminders to pay estimated quarterly taxes throughout the year
- Filers with any type of tax situation who meet AGI limits can use the IRS Free File program to file a federal return, and maybe a state return, with TaxSlayer at no cost
Cons
- Free version advertised on its website does not include earned income tax credit or child tax credit
- Interface isn't as intuitive as H&R Block or TurboTax
Insider’s Take
TaxSlayer is a good budget option for people who don't need a lot of assistance when filing their taxes and can be a great value for self-employed filers. However, the interface can be a bit clunky, and the free and lower-cost packages might not have all the features you need.
Product Details
- Choose direct deposit for your refund and e-file your return to get your fastest refund possible.
- Everyone gets free, unlimited phone and email support. And if you need more help, we have you covered from Ask a Tax Pro to Audit Defense.
- Download free app for tax filing, resources, news, and tips at your fingertips.
- Guaranteed maximum refund
- 100% accuracy guaranteed
- Zero out-of-pocket fees
How Does TaxSlayer Work?
TaxSlayer is a subsidiary of Rhodes-Murphy & Co, which is one of the oldest players in computerized tax preparation services.
Signing up for TaxSlayer is easy. After you set up an account with your email address and personal information, you'll be asked a series of questions about your finances for the tax year in question. You'll need things like W-2s, 1099s, 1098-Ts, and any other receipt of income or expenses that may be deductible. TaxSlayer has a document upload feature, but it supports a limited number of forms.
After you've answered all the questions, TaxSlayer will calculate your refund or tax due.
TaxSlayer Frequently Asked Questions
What's the difference between TurboTax and TaxSlayer?
TurboTax is the leading in tax-preparation software but comes with a premium price. TaxSlayer is a smaller tax-prep service that offers a similar product, although with fewer features, at a lower cost.
Is TaxSlayer really free?
Yes, TaxSlayer does have a free tax filing option. You can use the free version only if you meet qualifications such as, your taxable income is less than $100,000, you claim the standard deduction, you don't claim dependents, and the types of income you're filing are wages, salaries, tips, unemployment compensation, and taxable interest of $1,500 or less.
Can TaxSlayer be trusted?
TaxSlayer keeps your information safe with a variety of security measures. It also requires multi-factor authentication every time you log in to verify your identity. It ispossible to enter some expenses more than once, leading to incorrect calculations, so it's important to double check your work to ensure accuracy.
Compare TaxSlayer
TaxSlayer vs. TurboTax
TurboTax is a market leader in tax preparation but can be very expensive, while TaxSlayer is a smaller tax prep service that offers a similar product, althouth with fewer features, at a lower cost. Both products come with free versions for qualified customers who have simple needs (for TurboTax about 37% of taxpayers qualify, Form 1040 + limited credits only). Both offer access to professional assistance with paid packages. Easier navigation, automated importing of data from financial companies, and the ability to upload 1099s and other forms are all great features that set TurboTax apart from TaxSlayer, which has a more basic interface.
TaxSlayer vs. Cash App Taxes
Cash App Taxes, formerly called Credit Karma Tax, is a free tax preparation service that you can use for both federal and state tax returns. The main difference between Cash App Taxes and TaxSlayer is that Cash App Taxes only provides free tax filing options — for both federal and state returns — while TaxSlayer is only free in some circ*mstances for qualified users, and in most cases you'll have to pay extra file a state income tax return. A drawback with Cash App Taxes is that if you need assistance in filing your return, none is available. With TaxSlayer's higher-level paid packages, you can get email and phone support with tax professionals.
Why You Should Trust Us: How We Rated TaxSlayer
We rate tax software on a 1-5 scale. The overall rating is a weighted average that considers five different categories when reviewing each platform, some of which are judged more heavily than others. They are:
- Cost (30%):Is there a free filing package? How does the cost of the paid tax preparation software compare to similar offerings from competitors?
- Value (20%):Does the cost justify what you get? Can you get the same features elsewhere for a lower price?
- User experience (20%):Is the tax prep software easy to use? Can you seamlessly upload or import documents? Is the guidance clear and non-jargony?
- Expert help (20%):Can you chat, email, or call a tax professional when you have questions? Is this feature included with the standard packages or does it cost extra?
- Support (10%):Is there an accuracy guarantee or audit support? Is customer service reachable and helpful?
We also considered the breadth of tax forms included in the various packages offered by each tax software company, with an emphasis on what's available at no cost.
TaxSlayer
On TaxSlayer's website
Insider’s Rating
4.6/5
Perks
TaxSlayer offers one free federal and one state return with its TaxSlayer Simply Free.
Fees
up to $62.95 for federal tax return and an additional $39.95 for state tax return
Pros
- Strong option for self-employed filers
- Low price — comparable self-employed packages at H&R Block and TurboTax are more than 2x the cost
- All packages include phone and email support
- Self-employed package includes on-demand access to a tax professional
- Simple and clean interface
- Ability to set up reminders to pay estimated quarterly taxes throughout the year
- Filers with any type of tax situation who meet AGI limits can use the IRS Free File program to file a federal return, and maybe a state return, with TaxSlayer at no cost
Cons
- Free version advertised on its website does not include earned income tax credit or child tax credit
- Interface isn't as intuitive as H&R Block or TurboTax
Insider’s Take
TaxSlayer is a good budget option for people who don't need a lot of assistance when filing their taxes and can be a great value for self-employed filers. However, the interface can be a bit clunky, and the free and lower-cost packages might not have all the features you need.
Product Details
- Choose direct deposit for your refund and e-file your return to get your fastest refund possible.
- Everyone gets free, unlimited phone and email support. And if you need more help, we have you covered from Ask a Tax Pro to Audit Defense.
- Download free app for tax filing, resources, news, and tips at your fingertips.
- Guaranteed maximum refund
- 100% accuracy guaranteed
- Zero out-of-pocket fees
Tanza is a CFP® professional and former correspondent for Personal Finance Insider. She broke down personal finance news and wrote about taxes, investing, retirement, wealth building, and debt management. She helmed a biweekly newsletter and a column answering reader questions about money. Tanza is the author of two ebooks, A Guide to Financial Planners and "The One-Month Plan to Master your Money." In 2020, Tanza was the editorial lead on Master Your Money, a yearlong original series providing financial tools, advice, and inspiration to millennials. Tanza joined Business Insider in June 2015 and is an alumna of Elon University, where she studied journalism and Italian. She is based in Los Angeles.
Brynne Conroy is the owner and creator ofFemme Frugality — a women's finance blog which has been a Plutus Awards finalist for three years running. She is also the author of "The Feminist Financial Handbook," which has been called "revolutionary" and "a unicorn among finance books." Her freelance writing has been featured in respected print and online publications where she looks beyond the dollars and cents to examine both the systemic and psychological flashpoints that determine the state of Americans' finances.
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