What We Recommend TaxSlayer For
We recommend TaxSlayer for at-home tax filers seeking to file their returns at a lower price than H&R Block or TurboTax. Generally, it is best for filers with only a few capital gain or loss transactions since these can’t be imported. Despite its low price, it offers a decent list of helpful features that make your tax filing process easier and your refunds faster.
TaxSlayer Is Especially Good For
- Taxpayers looking to file a federal and state tax return for free: TaxSlayer offers a free plan for individuals who are doing taxes on their own. This plan allows you to file an individual return for free. The first state tax return is included, and additional returns are $39.95.
- Self-employed individuals, contractors, and 1099 contractors who need advice from tax professionals: Premium and self-employed users have unlimited access to a team of tax professionals―enrolled agents (EAs) and tax preparers―who specialize in self-employed tax issues. TaxSlayer was featured in best business tax software as inexpensive tax software for freelancers with advice from tax professionals.
- Taxpayers looking to save money on Schedule C filing: At $24.95, TaxSlayer offers an inexpensive fee for filing Schedule C, but this doesn’t include deduction assistance or advice from a tax professional.
TaxSlayer Is Not a Good Fit For
- Professional tax preparers: TaxSlayer is do-it-yourself (DIY) tax preparation software and isn’t meant for professional tax preparers. If you’re an accountant or a tax professional preparing returns for multiple clients, we recommend that you check out our review of the best tax software for tax preparers.
- Businesses organized as C corporations (C-corps), S corporations (S corps), or partnerships: Unfortunately, TaxSlayer has no products that let you file forms 1120, 1120S, or 1065. Instead, we recommend TaxAct, which offers various tax filing options for partnerships, C-corps, and S-corps.
- Taxpayers looking to file multiple returns: TaxSlayer requires you to pay for each return separately, which can be expensive if you need to file multiple returns. Instead, we recommend H&R Block’s desktop software, which lets you prepare as many returns as you like and e-file five of them at no additional cost.
Are you looking for something different? Read our article on the best small business tax software for a variety of tax software solutions. We narrowed down our recommendations based on the price of preparing the typical bundle of returns required by most business owners.
TaxSlayer Pros and Cons
| PROS | CONS |
|---|---|
| Free filing for simple federal tax returns | Offers fewer features than other tax filing software |
| Less expensive than most other tax programs | Cannot import Schedule C income and expenses |
| Includes a mobile app | Doesn’t support business returns (1065, 1120, and 1120S) |
| Access to live support from tax professionals (Premium and Self-Employed users) | Cannot import capital gain transactions |
TaxSlayer Pricing
TaxSlayer offers a free version that lets you file simple returns for no cost, as well as three paid packages that range from $24.95 to $54.95 for federal filing, plus $39.95 for state returns.
The plans vary in terms of the extras included, such as W-2 import, IRS audit assistance, live chat, guidance with 1099 income, and access to a tax pro with self-employed expertise.
Pricing & Features | Simply Free | Classic | Premium | Self-Employed |
|---|---|---|---|---|
Pricing (Federal Tax) | $0 | $24.95 | $44.95 | $54.95 |
Additional Fee for State Filing ($/State) | (Includes one state) +$39.95 per additional state | $39.95 | $39.95 | $39.95 |
Free Phone & Email Support | ✔ | ✔ | ✔ | ✔ |
W-2 & Unemployment Income | ✔ | ✔ | ✔ | ✔ |
Student Loan Interest & Education Expenses | ✔ | ✔ | ✔ | ✔ |
W-2 Import & PDF Upload | N/A | ✔ | ✔ | ✔ |
Schedule C | N/A | ✔ | ✔ | ✔ |
Schedule C Deduction Assistance | N/A | N/A | N/A | ✔ |
Includes all Income, Deductions & Credits | N/A | ✔ | ✔ | ✔ |
IRS Audit Assistance for 3 Years | N/A | N/A | ✔ | ✔ |
Live Chat | N/A | N/A | ✔ | ✔ |
Access to a Tax Pro | N/A | N/A | ✔ | ✔ (Self-employed expertise) |
Guidance With 1099 Income | N/A | N/A | N/A | ✔ |
Simply Free
The free plan is best for simple tax filing, and it includes one free state tax return. This option lets you file a 1040 and a state return for free, but only if your taxable income is less than $100,000, you don’t claim dependents, and you don’t have rental income, investments, or a business. The Simply Free plan supports W-2 income, student loan interest, and education expenses and also includes free phone and email support.
Classic
Suitable for all tax situations, the Classic plan includes all features in Free plus all forms, credits, income, and deduction types, and W-2 import and PDF upload. This is a great option for freelancers, landlords, and those who want to itemize their deductions. The Classic plan includes the Earned Income Tax Credit and Child Tax Credit as well as no form or schedule restrictions for income. The federal part of this package is free for all active military.
Premium
The Premium plan includes everything in Classic as well as IRS audit assistance for three full years, priority tech support via live chat, priority phone and email support, and access to a tax professional.
Self-Employed
As the name suggests, this plan is best for self-employed individuals and independent 1099 contractors. All features in the other packages are available, plus guidance with 1099 income, quarterly estimated tax payment reminders, personalized tax guidance, access to a tax pro with self-employed expertise, year-round tax and income tips, and a deduction maximizer for Schedule C.
TaxSlayer Features
TaxSlayer offers helpful features, a searchable online knowledge base, and extended guidance and support to help you prepare and file federal and state tax returns. Here’s a glimpse of what’s available depending on the package you choose.
Guaranteed Maximum Refund
With the exception of the Simply Free plan, TaxSlayer guarantees that you’ll receive the maximum refund that you’re entitled to, or it’ll refund your purchase. To qualify, you must be able to show that the larger refund or smaller tax due cannot be attributed to data that was entered incorrectly and provided to TaxSlayer for tax preparation.
100% Accuracy Guarantee
All tax calculations are guaranteed to be 100% accurate, or TaxSlayer will refund any federal or state penalties and interests charged to you. If it’s determined that you entered information incorrectly, the guarantee doesn’t apply.
Zero Out-of-Pocket Fees
Using TaxSlayer’s File and Go option, your tax filing fees will be deducted from your refund. This is a simple and convenient choice if you wish to avoid using credit cards to pay your fees.
IRS Audit Assistance
Available in the Premium plan, this feature gives you access to TaxSlayer’s staff of IRS-certified experts and EAs who are qualified to help you get through a possible IRS audit. This service is applicable for three full years after the IRS accepts your file.
Refund Options
TaxSlayer lets you choose how you receive your refund, with three options. If you elect for direct deposit, your refund will be transferred to up to three different accounts. You can also opt for a printed check, which will generally arrive five days after the IRS issues your refund. The last option is to have the funds deposited to a TaxSlayer Visa Debit Card, which allows you to receive your refund through direct deposit even if you don’t have a bank account.
Tax Refund Calculator
TaxSlayer Tax Refund Calculator (Source: TaxSlayer)
TaxSlayer’s refund calculator lets you estimate your refund using your paycheck or W-2 to plan for the next season. All you need to do is provide some basic information to determine your filing status and claim any dependents. The calculator also gives you an idea of your potential taxable income and finds the best credits and deductions you can claim.
PDF File Import
If your returns are stored as PDF documents, you can import them to TaxSlayer from other online tax preparation programs. You can import forms such as 1040, 1040A, and 1040EZ.
Mobile App
TaxSlayer mobile app (Source: TaxSlayer)
Download the TaxSlayer mobile app on Google Play or App Store and file your taxes online right on your mobile device. You can instantly see the status of your return and receive updates with personalized notifications. A refund calculator is also available.
Customer Service and Ease of Use
TaxSlayer has a clean user interface and a website layout that’s easy to navigate. To get started, you need to set up a free account where you’ll be asked to provide your email address and create a password. When you log in, you’ll be greeted by the My Account page with a menu laid out in a sidebar with different sections: My Account, Basic Information, Federal Section, Health Insurance, State Section, Summary/Print, E-file, Mailbox, and Settings:
TaxSlayer’s My Account page (Source: TaxSlayer)
It includes an interview process, but you can skip around some sets of questions as you go:
TaxSlayer interview question (Source: TaxSlayer)
If you get lost, TaxSlayer offers multiple support options, including free phone and email support for all filers, regardless of your plan. It also has an online knowledge base with answers to many common tax questions. If you need access to live help from tax professionals, you’ll need to purchase the Premium or Self-Employed version.
TaxSlayer Alternatives
Best for: Those who want desktop software to file multiple federal and state returns for one price | Best for: Freelancers looking for a free individual tax software | Best for: Taxpayers looking for an online program to prepare both individual and business returns |
Desktop software starting at $19.95 | Free federal filing and $14.99 for state returns | Free federal filing and $39.95 for state returns |
Bottom Line
Overall, TaxSlayer is a cost-friendly choice for many tax filers, especially those with only a few capital gain transactions to input. It may not have the robustness of other tax software, but its biggest strength―low price points―offers a compelling value that rivals expensive programs. We especially recommend TaxSlayer for self-employed individuals who need a budget-friendly program to file Schedule C but still want the ability to speak with a tax professional.
Create your free TaxSlayer account today and see how it works for you.
