TaxSlayer 2024 Review
Updated May 7, 2024 at 5:22 pm
TaxSlayer can get simple returns filed without much fuss, but other areas are more murky.
Our Methodology Our research is designed to provide you with a comprehensive understanding of personal finance services and products that best suit your needs. To help you in the decision-making process, our expert contributors compare common preferences and potential pain points, such as affordability, accessibility, and credibility.
TaxSlayer Overview
Vault Verified
Expert Take: TaxSlayer gets the job done at a low, upfront cost for filing. Its plans are priced affordably across all tiers, and certain filers can even file their federal and state returns for free. Going through the filing steps is painless, but support outside of the software itself is where improvement can be made.
Pros
- Affordable plan options
- Free federal filing for active duty military
- Unlimited phone and email support.
Cons
- Can’t upload or import tax documents under free plan
- Online knowledgebase navigation isn’t intuitive
- Downgrading plans is cumbersome
Vault’s Viewpoint on TaxSlayer
One of TaxSlayer’s best features might just be its price point. Compared to the cost of filing your returns through a professional tax preparer, TaxSlayer pricing is relatively affordable.
Another standout feature is the ability to access a live person if you need help. Regardless of which plan you sign up for — including its free filing option — you can access unlimited free phone and email support.
Although the price is right for this DIY tax preparation software, other user experience areas need refinement. There are friction points when searching through its online support article database, and you can’t downgrade a plan on your own. Overall, TaxSlayer can be a solid free option for those who have a simple, straightforward tax situation and are confident filing online. An alternative service might be better for those who want to file for free but claim more deductions and credits.
TaxSlayer Highlights
TaxSlayer Pricing
- Simply Free: $0
- Classic: $34.95 + state filing fee, starting at $39.95.
- Premium: $54.95 + state filing fee, starting at $39.95.
- Self-Employed: $64.95 + state filing fee, starting at $39.95.
Active duty military members can file their federal and state tax returns for free. This offer has no restrictions: All forms, deductions and credits are available to eligible military.
TaxSlayer Simply Free
Simply Free offers no-cost federal and state tax return filing. The plan is restricted to individuals whose income is less than $100,000 and other restrictions. It’s ideal for filers whose tax situation only requires a basic 1040 IRS tax return form.
It lets you claim education-related tax benefits, like a student loan interest deduction and education credits. Aside from education tax incentives, no other deductions and credits can be claimed using the Simply Free plan.
TaxSlayer Classic
TaxSlayer Classic includes a comprehensive suite of tax return forms, schedules, deductions and credits that you might want to claim. Its W-2 and 1099 upload feature helps you save time on your tax filing by auto-filling applicable fields for you.
The plan also includes unlimited phone and email support access if you come across any questions while completing your return. This support is available for up to a year after the IRS accepts your return.
TaxSlayer Premium
If you have a complex tax situation, TaxSlayer’s Premium plan provides the same features you’d get in its Classic tier. What you’re paying more for is access to unlimited guidance from a tax professional via live chat, live chat support for technical issues, and “skip-the-line” VIP treatment when contacting support.
The Premium plan also gives you IRS audit support for three years after the IRS accepts your tax return.
TaxSlayer Self-Employed
The Self-Employed plan is designed for tax filers who need to file separate returns for their personal and business tax returns. This plan is for freelancers, small business owners, entrepreneurs and others who have 1099 income and require Schedule C filing.
It provides all of the features included with the Premium plan, plus support from a tax professional who’s knowledgeable about the tax nuances of a self-employed filer. It also provides additional resources year-round, like tax and income tips and quarterly estimated tax payment alerts.
TaxSlayer Ease of Use
Using TaxSlayer is straightforward. You have the option of going through a guided Q&A process to identify the appropriate forms needed, or you can choose your own tax forms. A downside is that there’s no way of tracking your progress as you’re completing the return. It’s unclear what sections are coming up and how much further you have to go.
TaxSlayer Customer Service
Although you get unlimited phone and email support, outside of the software, TaxSlayer’s website lacks useful customer support resources. The information is often broad. Also, navigating its knowledge base isn’t intuitive, and query results aren’t targeted as well as they should be.
For example, if you want to upgrade or downgrade your TaxSlayer plan, searching “how do I change TaxSlayer plans” yields completely irrelevant search results, mostly about 529 plans. This experience can be frustrating for those who expect a smooth, yet hands-off experience.
Who is TaxSlayer Best For?
TaxSlayer is best for tax filers whose tax situations require a basic 1040 form and who want to file their return for free. It can be an ideal online filing option for students, or someone who earns less than $100,000 annually and doesn’t have deductions to itemize, dependents, investments, or business income, and doesn’t need to claim earned income tax credit.
1099-workers or other self-employed filers who’ve filed their own tax returns in the past, and are comfortable with going through the online steps might also like TaxSlayer. The Self-Employed option is cheaper compared to competing DIY tax preparation software. Having limitless access to a tax professional who understands the nuances of business tax filing is also valuable.
Who Should Consider an Alternative to TaxSlayer?
If you want to spend the least amount of time and money on filing your returns but don’t qualify for Simply Free, you’ll have better luck elsewhere. TaxSlayer has an upload and import tax document feature, but it’s only accessible under a paid plan. Simply Free filers need to manually fill out their return which adds extra time to the process.
“TaxSlayer offers fair pricing compared to its competitors, but I wouldn’t recommend it to tax filers who aren’t wholly confident about DIY tax prep abilities.”
— Jennifer Coates Calonia
How Does TaxSlayer Stack Up to Its Competitors?
TaxSlayer is just one tax software for filers who want to prepare and file their annual tax returns. Here’s a general overview of how TaxSlayer compares to other options.
TaxSlayer vs. TaxAct
Both TaxSlayer and TaxAct offer four online plans, from a free plan to a more involved Self-Employment plan. The biggest differences are in their free and low-tiered paid plans. TaxAct’s Free plan only applies to filing your federal tax return, making its “Free” plan name a little misleading. Free plan filers still need to pay $39.99 per state return. TaxSlayer’s Simply Free plan includes a federal tax return and one free state tax return filing.
The upside to TaxAct Free is that credits, like the Child Tax Credit and Earned Income Credit can be claimed. On TaxSlayer, the Classic plan is the lowest tier where these credits are accessible. Students using TaxSlayer Simply Free can claim the student loan interest deduction. To claim this deduction on TaxAct, you’ll need to upgrade to the Deluxe plan at $24.99 and pay the state filing cost which increases for paid plans to $44.99 per state.
Plus, if you want access to all tax forms, schedules, deductions and credits, TaxSlayer Classic fits this criteria. But you’ll need to opt for TaxAct’s Premier plan for more filing options. Overall, TaxAct might be best for filers who can claim dependents but otherwise have a straightforward tax situation.
TaxSlayer vs. TurboTax
TurboTax is one of the most comprehensive online tax software on the market. Its pricing varies, based on whether you prefer tackling your returns on your own, handing them off to a tax expert or a hybrid of both.
If you choose to DIY your tax filing, the cost for filing a federal return on TurboTax is up to $129, plus $64 per state on paid plans. If using TurboTax Live Assisted to have a live tax professional answer questions, fix mistakes and review your returns before filing, it’ll cost up to $219 for a federal return. The state filing cost per a state under the Live Assisted option is higher on paid plans at $69 per state. Additionally, TurboTax offers a TurboTax Live Full Service plan in which has a tax expert do your taxes for you. This highest option starts at $129 plus state additional at $69 per state, though that final price could increase based on the complexity of your return and forms used. On TurboTax Live Full Service: Price includes W-2 and 1040. State additional. Final price may vary based on your actual tax situation and forms used or included with your return.
Save up to an additional 10% off on TurboTax!
Like TaxSlayer, certain tax filers might be eligible for free federal and state tax filing on TurboTax Free Edition. ~37% of taxpayers qualify. Form 1040 + limited credits only. Additionally, akin to TaxSlayer, a few covered situations are included in TurboTax Free Edition, like Earned Income Tax Credit, Child Tax credit, and student loan interest deduction.
TaxSlayer vs. FreeTaxUSA
FreeTaxUSA has a completely different cost structure compared to TaxSlayer pricing. All four of its service tiers — Basic, Advanced, Premium and Self-Employed — offer free federal filing. The cost to file your state return is also a uniform $14.99 per state across the board.
Its Deluxe Edition service provides front-of-the-line priority assistance from a live tax expert via online chat. Instead of having one-on-one support built into certain tiers and priced accordingly, Deluxe Edition is an add-on service for $7.99. It also has a Pro Support add-on for $39.99. It offers personalized tax advice from a tax professional and enhanced features like phone support and live screen sharing while getting assistance.
If you’re looking for hands-free DIY tax software for online filing and want comprehensive access to forms, deductions and credits, FreeTaxUSA can be a competitive option. TaxSlayer requires you to sign up for higher service plans for complex tax situations. With FreeTaxUSA, you aren’t required to pay for the support add-ons if you’re confident with doing your returns yourself — even if you have investments, rental property or are self-employed.
Is TaxSlayer Worth It?
TaxSlayer offers middle-tier pricing on its tax preparation software, across the market. Tax filers who are on a budget will appreciate the modest TaxSlayer pricing options. But the criteria for its Simple Free service can be restrictive for tax filers who want to maximize their deductions and credits while still claiming the standard deduction.
Plus, third-party TaxSlayer review sites, like Trustpilot, show that its customers have had an overall positive experience. As of writing, the software earned an “excellent” rating with 4.3 stars out of five, across more than 24,000 reviews.
Editorial Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post. We may earn a commission from partner links on Newsweek, but commissions do not affect our editors’ opinions or evaluations.
