TaxSlayer is an affordable way to file your tax return, and they offer free tax returns for active-duty military members.
Are you a first-time filer with a complicated tax return? Maybe you want to get your tax refund fast. If you check off either of those boxes, TaxSlayer would be a great tax-filing software for you.
This software is comprehensive but easy to use. You don’t need to have specialized tax knowledge to benefit from it. TaxSlayer also has robust customer support, offering technical advice specific to the application.
The TaxSlayer system is designed to detect errors and incomplete data to ensure the calculations are 100% accurate. In fact, the platform offers a money-back guarantee if you receive an incorrect tax refund. They even offer a special free filing option for military members.
Let’s look at some of TaxSlayer’s standout features and see how it compares to its competitors.
About TaxSlayer Tax Software
TaxSlayer was developed in 1998 by a company that previously offered traditional tax filing services.
Headquartered in Georgia, it is one of the most popular tax management programs, with millions of tax returns prepared on the platform every year.
TaxSlayer is committed to providing customers with reliable tax software and technical support by leveraging innovation and industry experience. Its cost-friendliness makes it an excellent choice for tax preparation.
How TaxSlayer Works
TaxSlayer has a straightforward user interface to help you file your taxes.
Before you start, you’ll need to choose the appropriate version and create an account. You will need to enter your email and create a password.
Afterward, you’ll be directed to the TaxSlayer menu where you can start preparing your tax return. You will first need to read, understand and agree to TaxSlayer’s terms of service in order to know how your personal information is used.
The menu has six sections that you’ll need to fill:
- Basic information: Name, date of birth, Social Security number, occupation and mailing address. It is advisable to start with this section. The section also requires you to provide your filing status and dependents’ information.
- Federal section: Federal tax information, which includes income and deductions.
- State section: After you’ve submitted all the required information for your federal return, you don’t have to repeat the same for the state return. TaxSlayer will transfer the federal return information automatically to complete your state return.
- Health insurance: Whether or not you have health insurance will impact your return, and this section helps determine that.
TaxSlayer allows you to navigate to any section by clicking on the respective sidebar button. However, there will be a pop-up notifying you that you could lose your data.
If you want to move from one section to another without risking losing your data, use the navigation buttons at the bottom of each section.
The major setback about this approach is that it makes it cumbersome to go back and review or change information you have already entered.
Nonetheless, TaxSlayer is user-friendly software and offers many benefits.
Benefits of Tax Slayer
- Guaranteed maximum refund: With TaxSlayer, you are guaranteed to receive the maximum refund you are entitled to. Otherwise, you’ll get reimbursement for what you paid for the software.
- 100% accuracy guarantee: With TaxSlayer, you can rest assured that your calculations will be 100% accurate. Otherwise, you will be reimbursed any penalties and interest charges you incur in the event of a miscalculation.
- No out-of-pocket fees: You don’t have to pay upfront for your TaxSlayer software as the cost can be deducted from your federal tax refund.
- Comprehensive knowledge base: With TaxSlayer, you get access to a comprehensive online knowledge base where you can find answers for various tax issues.
Unlimited phone and email support are included in all products, including Simply Free. Live chat and Ask a Tax Pro are exclusive to Premium and Self-Employed.
Most Remarkable Features
Several valuable features make TaxSlayer stand out from its competitors, including the following:
- Military filing option: If you are active-duty military, TaxSlayer allows you to file your federal return for $0, regardless of your tax situation, using TaxSlayer Classic. You will get access to all forms. State returns are not included in this free offer, but you can file state returns for $39.95 each.
- Paid add-on features: If you find a mistake in your tax return after filing, you can create and email a corrected tax return for $42.
- Return and payment options: You can use a credit or debit card or use your federal tax refund, so you don’t have to pay out-of-pocket. The tax preparation fee will be deducted from the refund before it is deposited into your bank account. While the most efficient way to receive your refund is through direct deposit into your bank account, you can also receive it as a check. However, you will have to wait a little longer.
- Valuable tax tools: TaxSlayer offers a number of online tools geared toward expediting your tax preparation. These tools are user-friendly and help you understand your tax situation better. One of the most remarkable tools is a tax refund calculator, which can estimate your refund once you answer a few short questions.
TaxSlayer Pricing Plans
TaxSlayer offers four pricing plans:
- Free plan: This package is free for both federal and state filing for Form 1040 filers. It also allows for education deductions and credits.
- Classic plan: This plan costs $19.95 for federal filing. It supports all major IRS forms and schedules. It allows you to import W-2 data from payroll providers. It can also extract key information from the past year’s return.
- Premium plan: TaxSlayer Premium costs $39.95 for federal returns. In addition to the features from TaxSlayer Classic, it also includes audit assistance, enhanced customer support options, live chat and access to tax experts.
- Self-Employed plan: This plan costs $49.95, and it includes all the features from the premium plan plus extra guidance for self-employed taxpayers.
For all the paid plans, you’ll need to pay an additional $39.95 to file a state return.
These are very competitive prices when compared with TaxSlayer’s major competitors, such as TurboTax and H&R Block.
Is TaxSlayer Right for You?
If this is your first time filing a tax return, TaxSlayer can be great for you, especially if you have a complicated tax situation.
If you would want support from tax pros or audit assistance guarantee, TaxSlayer Premium or Self-Employed can be cost-friendly options for you.
The Pros and Cons of TaxSlayer
- Free filing for simple returns
- Paid versions allow for W-2 import
- Affordable state returns
- Live chat is limited to upper versions
- Third-party application integration not supported
- No downloadable version
File your return with TaxSlayer>>
Leave A Comment: