TaxAct 2024 Review

TaxAct Overview

See Offers

Vault Verified

Expert Take: We recommend TaxAct for its ease of use and lower-cost plan options. However, you’ll find better benefits—like free state filing and tax prep assistance—with competing tax software companies.

Pros

• Lower-cost plans compared to some competitors
• Several guarantees, including maximum refund guarantee and $100k accuracy guarantee
• Offers a variety of free calculators, such as a Tax Calculator, Tax Bracket Calculator and W-4 Calculator

Cons

• Additional fees from add-on features can add up quickly 
• Higher cost for state returns compared to some competitors
• No in-person tax assistance available 

Vault’s Viewpoint on TaxAct

While it’s not as well known as other popular tax filing software, TaxAct has an easy-to-use interface and offers cheaper plans compared to other options on the market. 

TaxAct features include step-by-step guidance to prepare and e-file your taxes and free tools like tax checklists and calculators. And if you’d like added help from a live tax expert, you can tack on Xpert Assist for an additional $59.99.

Overall, TaxAct is a solid all-around tax filing software for individuals. But if you’d prefer a platform with fancy additions and the chance to save on live assistance or state returns, consider some alternatives to TaxAct (highlighted further down in our review).

TaxAct Highlights

TaxAct Pricing

Here’s a look at four plan options from TaxAct, including standard pricing and the cost for state returns:

• Free (for W-2 filers): $0.00 + $39.99 per state
• Deluxe (for homeowners, families and those carrying student loan debt): $49.99 + $59.99 per state
• Premier (for investors, rental properties, filers with foreign bank accounts): $69.99 + $59.99 per state
• Self-Employed (for freelancers, side gig workers, independent contractors): $99.99 + $59.99 per state

TaxAct Ease of Use

TaxAct’s platform is known to be fairly intuitive and easy to navigate. No matter which version you use, TaxAct uploads the prior year’s returns, you receive a personalized tax plan and can tap into the platform’s tech support at no cost. TaxAct also makes it convenient for you to pay for the filing service by deducting any fees directly from your refund. 

TaxAct Tools

TaxAct features tools such as guided preparation and filing of your returns, income tax and self-employment calculators and tax bracket charts. You can also request a tax extension through the platform if you can’t make the April 15, 2024, deadline.

TaxAct Professional Assistance 

For an additional $59.99, TaxAct’s Xpert Assist grants you access to unlimited counsel and help from the software’s tax experts. With this service, you can reach out to these experts for guidance over the phone as often as you’d like through October 31, 2024.

TaxAct Customer Service

For the 2023 tax season, TaxAct’s customer support team is available by phone at (319) 373-3600 from January 2, 2024, through April 7, 2024. Specifically, you can call Monday through Friday from 8 a.m. to 9 p.m. CT and Saturday and Sunday from 9 a.m. to 6 p.m. CT.

TaxAct Guarantees 

TaxAct features a maximum refund guarantee on individual 1040 products used to file your return. There’s also a $100,000 accuracy guarantee, which means if there’s an error that TaxAct makes in helping you prepare your returns, they’ll pay up to $100,000 for the mistake. You can also take advantage of a 30-day money-back guarantee, which offers a full refund. 

Who Is TaxAct Best For?

Overall, TaxAct is built for those who want step-by-step advice and who might need live help from a tax professional.

TaxAct can help prepare and e-file taxes for a wide variety of individuals and situations, such as those with W-2 income, freelancers, gig workers and the self-employed, but we recommend it for anyone planning to utilize its Free or Deluxe plans. (Its Deluxe plan is one of the cheaper options on the market compared to plans from similar tax software companies.)

Who Should Consider an Alternative to TaxAct?

If you qualify for free filing and would prefer to not pay for your state return, know that some competitors offer free state returns. For example, TaxSlayer Simply Free comes with a free state return ($39.95 for each additional state), and TurboTax doesn’t charge for federal and state returns on do-it-yourself with TurboTax Free Edition. ~37% of taxpayers qualify. Form 1040 + limited credits only.

Lastly, if you want in-person help from a tax professional, TaxAct isn’t a good option. H&R Block offers in-person help from a tax preparer for an added cost, in addition to DIY plans and online support. 

How Does TaxAct Stack Up to Its Competitors?

Let’s take a look at how TaxAct compares to tax software with similar offerings.

TaxAct vs. TurboTax

TurboTax offers a swath of plan options, though navigating these plans might prove more difficult compared to TaxAct’s easy-to-read pricing layout. With TurboTax Online, you can choose between basic, deluxe and premium plan versions, costing prices that are typically more expensive than those from TaxAct. For example, the standard price for TurboTax Premium DIY (includes self-employed, freelancers) is $129 for federal plus $64 per state, but may have a discount for federal. This is in comparison to TaxAct Self-Employed, which is currently $99.99 + $59.99 per state filed. With TurboTax, there are also Live Assisted plans for an additional cost.

While TurboTax is typically more expensive overall, it’s known to have a sleeker, more user-friendly interface. Plus, if you use QuickBooks for your bookkeeping and accounting, TurboTax easily integrates to import from QuickBooks software. The additional cost could be worth it, depending on your needs. 

TaxAct vs. FreeTaxUSA

Looking at cost alone, FreeTaxUSA is clearly the victor: Its pricing is $0 for federal returns and an additional $14.99 per state return, no matter if you have a Basic, Advanced, Premium or Self-Employed plan. While TaxAct is a little more expensive than FreeTaxUSA, it offers a lot more tools and features, such as different calculators to figure out how much of a refund to expect, a W-4 calculator to figure out your tax withholdings and a robust tax resource library. There are also various ways to track your refund status, including on the TaxAct Express app.

TaxAct vs. TaxSlayer

TaxAct and TaxSlayer feature free filing for those with W-2 income and who need to file 1040s. However, TaxSlayer’s free tier includes a no-cost state return, whereas there’s an add-on fee for TaxAct’s free version. 

Outside of the free version, TaxSlayer pricing ranges from $22.95 to $52.95—slightly cheaper than TaxAct. One notable difference between the two tax filing platforms is that, while TaxAct’s expert assistance is available to answer questions for both individuals and businesses, you’ll need to opt for TaxSlayer’s highest tier—Self-Employed—to get tax questions about your business answered. 

Is TaxAct Worth It?

TaxAct’s most popular plan starts at $49.99, plus $59.99 for each state filing, which is overall more affordable than similar plans from other tax software. TaxAct can be worth it if you have a simple tax situation and don’t require expert advice, as its Xpert Assist plans cost an extra $59.99.

Further, if you’d like to save on the cost of your state tax return, know that some competitors don’t charge for state returns (compared to TaxAct’s $39.99 to $59.99 fee) or waive the cost of your first filed state return.