BoomTax Review: Features, Pricing & Alternatives 2023
Tim is a Certified QuickBooks Time (formerly TSheets) Pro, QuickBooks ProAdvisor, and CPA with 25 years of experience. He brings his expertise to Fit Small Business’s accounting content.
Danielle is a writer for the Finance division of Fit Small Business. She has owned a bookkeeping and payroll service that specializes in small business, for over twenty years.
This article is part of a larger series on Accounting Software.
BoomTax is a cloud-based software for businesses that offers a simple solution for filing your information returns. It employs a step-by-step approach that allows you to complete forms 1099-NEC, 1099-MISC, 1099-DIV, 1099-INT, 1094-C, 1095-C, 1094-B, and 1095-B easily. With the help of BoomTax, you won’t have to learn any complicated software or undergo specialized training. Support for Affordable Care Act (ACA) reporting is available for a flat fee of $349 per company for up to 150 employees for the 2022 tax year. Filing for forms 1099 and W-2 start at $39 for 13 forms.
Pros
- 100% money-back guarantee
- Supports ACA reporting
- Filing for W-2s and 1099s available
- Import from QuickBooks Online and popular payroll providers like ADP and Sage
- Choice of delivery methods include mail, email, or a batch PDF download
Cons
- Doesn’t support income tax filing
- No desktop software
- No mobile app
- No free trial
When To Use BoomTax
- Businesses that require assistance with ACA reporting: BoomTax makes the confusing process of ACA filing much more understandable by providing support via the phone and in the form of guides that walk you through the process.
- Small businesses needing to file W-2s and 1099 forms: If you need a way to send out W-2s and/or 1099s, BoomTax provides a quick and easy way to process them at an affordable fee.
- QuickBooks Online users: BoomTax allows you to import data directly from QuickBooks Online so that you don’t have to duplicate your efforts. This streamlines the process of filing ACA, W-2s, and 1099 forms.
When To Use an Alternative
- Businesses using QuickBooks Payroll: If you use QuickBooks Payroll to pay your employees, you can also use it to easily prepare W-2s.
- Businesses that need an income tax return: We recommend you check out TaxAct, which offers various tax filing options for sole proprietors, partnerships, C corporations (C-corps), and S corporations (S-corps).
BoomTax Deciding Factors
Intended Users | Small businesses needing only support for W-2 and 1099 filing and/or ACA reporting |
W-2 and 1099 Filing | ✓ |
ACA Reporting | ✓ |
Income Tax Return Preparation & Filing | N/A |
Free Trial of BoomTax | ✕ |
Mobile App | ✕ |
100% Money-back Guarantee | ✓ |
Cryptocurrency Support | ✕ |
BoomTax Alternatives
 |  |
|---|---|
Best for: Businesses that want to run their own payroll and file 1099s and W-2s | Best for: Businesses needing an income tax return |
Starting at $75 per month (plus $5 per employee) for QuickBooks Payroll Core, which includes a subscription to QuickBooks Online Simple Start | $124.95 for federal filing and $54.95 for state returns |
Are you looking for income tax filing for your business? Check out our suggestions for the best tax software for small businesses.
BoomTax Pricing
BoomTax offers a pay-as-you-go service for the 1099 series and/or W-2 forms. The first 13 forms are $39, and then pricing shifts to per form after that. For example, 15 forms are $2.87 per form, whereas 100 forms are $2.13 per form.
For ACA filing, you can select between two plans, and both offer unlimited corrections and email and phone support:
- Premium: $349 per company for up to 150 employees, email and phone support, and unlimited corrections; state reporting for New Jersey, Rhode Island, and California plus Washington, D.C., is also available.
- Enterprise: Custom quote; includes unlimited companies and employees, priority email and phone support, and unlimited corrections
Optional fees:
- ACA Form Mailing: $1.99 per form
- ACA Form E-Delivery: 30 cents per form
- 1099 Form Mailing: $1.65 per form
- 1099 Form E-Delivery: 25 cents per form
- W-2 Form Mailing: $1.75 per form
- W-2 Form E-Delivery: 25 cents per form
- TIN Verification Service: $125 per batch
If you don’t want to pay extra for form delivery, you can download the forms in a PDF file and arrange the delivery yourself.
BoomTax Features
BoomTax has several useful features for businesses, including a seamless way to e-file, IRS-compliant e-delivery, a tax identification number (TIN) verification service, and support for ACA filing. It also offers a couple of useful add-ons, such as a print and mail service.
Easy E-filing
BoomTax doesn’t require you to have an IRS account, Transmitter Control Code (TCC), or coding skills—select “E-file” when filing and it will handle the e-file process from start to finish. BoomTax will check on the status of your filing and send you updates as the IRS or Social Security Administration processes your forms. If you need to make changes to your forms after filing, BoomTax offers free unlimited corrections.
ACA Filing Support
ACA filing can be confusing, especially for new filers. BoomTax aims to simplify this task by providing resources that can help. These resources include a Form 1095-C Guide and several other articles that break down the intricacies of the latest tax laws.
IRS Compliant E-Delivery
IRS guidelines require that you have a process in place prior to emailing forms to your recipients, and it involves gathering consent. BoomTax will handle this process for you completely, ensuring that you follow the proper protocol.
TIN Verification Service
With TINCorrect, BoomTax makes payee verification easy. No credit card is required to sign up, and you can try 10 searches for free when you register.
There are three ways to verify: on-demand, by bulk, where up to 100,000 TINs can be verified at once, or via modern application programming interface (API), which is compatible with all programming languages. BoomTax charges $125 per batch for this service.
BoomTax’s TIN verification service
Easy Import of Data
BoomTax supports many data formats, including Excel, and popular payroll providers including ADP, Sage, and UltiPro. You can also import data directly from QuickBooks Online, or upload your IRS ACA files into BoomTax. This will make it much easier to file your forms come tax time.
Importing data into BoomTax
Print & Mail Service
BoomTax will print and mail all of your forms from a Health Insurance Portability and Accountability Act (HIPAA)-compliant facility, which includes 2D barcode tracking to ensure every form is mailed properly and on time. The cost for print and mail service depends on the type of form, but it ranges from $1.65 to $1.99 per form. You can also elect to print your forms directly to PDF to distribute on your end.
BoomTax Customer Service & Ease of Use
BoomTax Support can be contacted by phone, email, or chat. Regular business hours are between 10 a.m. and 7 p.m. Eastern time, with extended hours during tax season. There’s also an extensive knowledge base available with articles related to e-filing, making corrections, understanding ACA tax forms, how-tos, and frequently asked questions (FAQs). There are spreadsheet templates available for you to download, and Boom Post, the BoomTax blog, provides tax news and updates.
BoomTax Dashboard
Navigating the BoomTax website is easy—as soon as you set up your free account, you can immediately jump into creating the desired forms. The dashboard is clean and user-friendly, and support is readily available should you run into any issues.
BoomTax Form Filing
BoomTax provides a visual display of each form, with a description of each. Once you select the form, you can import the data or enter it manually. BoomTax allows you to import files from Excel, payroll providers like ADP, or directly from QuickBooks Online.
BoomTax User Reviews
Users said that they appreciate that the software is so easy to use and is affordable. Reviewers also like the fact that they can upload information using the Excel template, and having the option to let BoomTax print and mail the forms saves a lot of time. Its biggest drawbacks are that you can’t file individual or business income tax forms through BoomTax and that payroll services aren’t provided.
User reviews are limited, but BoomTax earned the following average score on this popular review site:
- Trustpilot: 4.3 out of 5 based on about 15 reviews
FAQs
How much does BoomTax charge for ACA filing?
BoomTax charges $349 per company for up to 150 employees, email and phone support, and unlimited corrections. State reporting for New Jersey, Rhode Island, and California, plus Washington, D.C., is also available. For more than 150 employees, you can contact BoomTax for a custom quote.
Does BoomTax have a mobile app?
No, BoomTax doesn’t currently offer a mobile app.
Is BoomTax compatible with QuickBooks Online?
Yes, you can import data from QuickBooks Online directly into BoomTax.
Bottom Line
Although BoomTax doesn’t allow for income tax filing or payroll processing, it’s an affordable and easy way to process W-2s, 1099s, and forms related to ACA filing. The user-friendly cloud-based software will ultimately save you time and money by letting you focus on just the forms you need.
