TaxSlayer Review: The Ultimate Tax Preparation Solution for Busy People

Filing your taxes can be a daunting task, but with the help of tax preparation software like TaxSlayer, the process can be streamlined and stress-free. TaxSlayer is a popular tax preparation software that offers both free and paid versions for taxpayers of all kinds. In this TaxSlayer review, we’ll take a closer look at the features, benefits, and drawbacks of this software to help you decide if it’s the right option for your tax needs.

TaxSlayer Pros and Cons:

Pros:

• It offers a free version for taxpayers with simple tax situations.
• The software is user-friendly and easy to navigate.
• It provides live customer support via chat, phone, or email.
• The paid versions offer additional features like audit assistance and priority support.
• It offers a variety of filing options, including federal, state, and business taxes.
• The software is competitively priced compared to other tax preparation software.

Cons:

• Its free version is limited in terms of tax situations it can handle.
• The software may not be as robust as other tax preparation software options.
• Some users report issues with accuracy and calculations in the software.
• Its customer support may not be as responsive as other tax preparation software providers.
• The software does not offer in-person support options.

What is TaxSlayer and how does it work?

TaxSlayer is a tax preparation software that allows taxpayers to file their federal and state taxes electronically. The software is designed to simplify the tax filing process by providing a user-friendly interface and step-by-step guidance throughout the tax preparation process. TaxSlayer offers a variety of tax filing options, including basic, deluxe, premium, and self-employed versions, each with different features and pricing.

To use the software, taxpayers must create an account and input their personal and financial information, including income, deductions, and credits. TaxSlayer then uses this information to calculate the taxpayer’s tax liability and prepares the necessary tax forms, such as Form 1040, based on the selected version of the software.

TaxSlayer also provides taxpayers with access to live customer support via chat, phone, or email, as well as additional features like audit assistance and priority support in the paid versions. Once the taxpayer has reviewed and confirmed the accuracy of their tax return, they can file electronically through TaxSlayer or print and mail in their return. Overall, TaxSlayer aims to provide a straightforward and convenient tax preparation solution for taxpayers of all kinds.

How much does TaxSlayer cost?

TaxSlayer offers a range of pricing options depending on the complexity of your tax situation and the features you need. Here are the current prices for the 2022 tax year:

• Simply Free – $0: This version is for taxpayers with simple tax situations who only need to file a federal tax return. State returns can be added for an additional fee.
• Classic – $24.95: This version is for taxpayers with more complex tax situations and includes access to all tax forms and schedules. State returns can be added for an additional fee.
• Premium – $49.95: This version includes all the features of Classic, as well as live phone and email support, access to prior year returns, and audit assistance. State returns are included in the price.
• Self-Employed – $59.95: This version is specifically designed for self-employed taxpayers and includes all the features of Premium, as well as access to forms and schedules specific to self-employment income. State returns are included in the price.

It’s worth noting that these prices may change based on promotions or discounts offered by TaxSlayer. Additionally, taxpayers may be subject to additional fees for certain features, such as state e-filing or direct deposit of refunds. Overall, TaxSlayer offers competitive pricing compared to other tax preparation software providers.

What are the different versions of TaxSlayer?

TaxSlayer offers four different versions of its tax preparation software, each with its own set of features and pricing. Here’s an overview of the different versions:

• Simply Free: This version is for taxpayers with simple tax situations, such as those who only need to file a federal tax return. It is free to use and includes basic forms and schedules.
• Classic: This version is for taxpayers with more complex tax situations, such as those who have dependents, itemized deductions, or other tax credits. It includes access to all tax forms and schedules and costs $24. Additional fees apply for state returns.
• Premium: This version includes all the features of the Classic version, as well as live phone and email support, access to prior year returns, and audit assistance. It costs $44, and state returns are included in the price.
• Self-Employed: This version is specifically designed for self-employed taxpayers and includes all the features of the Premium version, as well as access to forms and schedules specific to self-employment income. It costs $64, and state returns are included in the price.

Overall, TaxSlayer’s different versions are tailored to different tax situations and needs, allowing taxpayers to choose the version that best fits their unique tax situation.

Is TaxSlayer a good option for small business taxes?

TaxSlayer does offer a Self-Employed version of its tax preparation software, which is specifically designed for self-employed taxpayers and includes forms and schedules specific to self-employment income. However, whether TaxSlayer is a good option for small business taxes depends on the specific needs of the business.

For small businesses with straightforward tax situations, TaxSlayer may be a good option. The Self-Employed version includes support for Schedule C, which is used to report business income and expenses and can handle additional forms and schedules related to self-employment income.

However, for more complex small business tax situations, TaxSlayer may not be the best option. TaxSlayer’s Self-Employed version may not provide the level of support or guidance needed for businesses with multiple employees, large amounts of inventory, or other complicated tax issues. In these cases, it may be worth considering more robust tax preparation software or hiring a professional tax preparer.

Overall, TaxSlayer may be a good option for small businesses with straightforward tax situations or self-employed taxpayers, but businesses with more complex tax needs should carefully evaluate whether TaxSlayer’s software can meet their needs.

Can TaxSlayer help me file my state taxes?

Yes, TaxSlayer can help you file your state taxes. TaxSlayer offers support for all 50 states, and taxpayers can choose to file both federal and state tax returns through the software.

The availability of state tax support depends on the version of TaxSlayer you use. The Simply Free version only supports the filing of federal returns, and state returns must be added for an additional fee. The Classic version and Premium version include support for state returns, but state filing fees may apply.

The Self-Employed version of TaxSlayer includes state filing at no extra cost, as it is bundled with the federal filing fee.

Overall, TaxSlayer provides support for filing both federal and state taxes, and the availability of state filing depends on the version of the software you choose.

Does TaxSlayer offer audit assistance?

Yes, TaxSlayer offers audit assistance as part of its Premium and Self-Employed versions of its tax preparation software. The audit assistance is designed to provide extra support and guidance to taxpayers who are facing an audit by the IRS.

If you purchase either the Premium or Self-Employed version of TaxSlayer and are audited, you can contact TaxSlayer’s customer support team for assistance. The audit assistance includes helping with organizing and preparing the necessary documents and responding to the IRS’s requests.

It’s important to note that the audit assistance does not guarantee that the audit will be resolved in your favor or that you will avoid any penalties or fees associated with the audit. However, it can provide additional support and guidance to help you navigate the audit process more easily.

Overall, TaxSlayer’s audit assistance can be a valuable feature for taxpayers who are concerned about the possibility of an audit or who want extra support in the event of an audit.

What are the customer reviews of TaxSlayer?

While TaxSlayer has an A+ rating with the Better Business Bureau (BBB) and has been accredited since 2005, the customer reviews of the software are mixed. According to the BBB website, as of May 2023, TaxSlayer has an average of 29 customer reviews and 97 complaints, resulting in a 1-star rating out of 5 stars based on customer reviews.

Some customers report positive experiences with TaxSlayer, praising the software’s user-friendly interface, affordability, and customer support. Other customers, however, have reported issues with accuracy and calculation errors, difficulty navigating the software, and unresponsive customer support.

It’s important to note that customer reviews can vary based on individual experiences and opinions, and the number of reviews on the BBB website may not be representative of all customers who have used TaxSlayer. Additionally, customers may have different experiences based on the version of the software they use and their individual tax situation.

Overall, while TaxSlayer has an A+ rating with the BBB and has been accredited for many years, it’s important for potential customers to research and evaluate the customer reviews and feedback before deciding if TaxSlayer is the right tax preparation software for their needs.

Here are some reviews:

What are the main features of TaxSlayer?

TaxSlayer offers a range of features to help taxpayers prepare and file their federal and state taxes. Here are some of the main features of TaxSlayer:

• User-Friendly Interface: The software is designed to be user-friendly and easy to navigate, even for those without a lot of tax experience.
• Free Version: It offers a free version for taxpayers with simple tax situations who only need to file a federal tax return.
• Paid Versions: It offers paid versions for taxpayers with more complex tax situations, including the Classic, Premium, and Self-Employed versions, which offer additional features and support.
• Live Customer Support: It provides live customer support via chat, phone, or email, depending on the version of the software.
• Federal and State Filing: It offers support for filing both federal and state tax returns.
• Audit Assistance: Their Premium and Self-Employed versions offer audit assistance to help taxpayers navigate the audit process.
• Prior-Year Return Access: It allows taxpayers to access prior-year returns for reference or editing.
• Refund Options: It allows taxpayers to choose from direct deposit, paper check, or prepaid debit card for receiving their tax refund.
• Accuracy Guarantee: It offers an accuracy guarantee, which means that if there is an error in your tax return, they will reimburse you for any penalties or interest incurred as a result.
• Mobile App: It offers a mobile app for iOS and Android devices, allowing taxpayers to prepare and file their taxes on the go.

Overall, it provides a range of features to help taxpayers prepare and file their taxes, including free and paid versions, live customer support, federal and state filing, and additional features like audit assistance and prior-year return access.

Can I file my taxes with TaxSlayer if I live outside of the United States?

TaxSlayer is designed primarily for taxpayers who live and work in the United States, but it may be possible for non-U.S. residents to use the software to file their U.S. taxes.

Non-U.S. residents who earn income in the United States, such as through rental properties, investments, or business income, may be required to file a U.S. tax return. It can help these taxpayers prepare and file their U.S. tax return, although they may need to consult with a tax professional to ensure that they are following all applicable tax laws and regulations.

It’s worth noting that it does not provide support for foreign tax returns, such as those required by the taxpayer’s country of residence. Additionally, taxpayers who are not U.S. citizens or permanent residents may have additional tax obligations, such as filing a Form 1040-NR or reporting foreign assets and income.

Overall, while the software can be used by non-U.S. residents to file their U.S. taxes, it’s important for these taxpayers to understand their specific tax situation and consult with a tax professional to ensure compliance with all applicable tax laws and regulations.

TaxSlayer FAQs

Is TaxSlayer free to use?

It offers a free version for taxpayers with simple tax situations who only need to file a federal tax return. However, additional fees may apply for certain features, such as state e-filing or direct deposit of refunds. Taxpayers with more complex tax situations may need to purchase one of their paid versions, which range in price from $24 to $64 depending on the features and support needed.

Is my personal information secure when using TaxSlayer?

Yes, the software takes security and privacy very seriously and uses industry-standard security measures to protect customers’ personal and financial information. Their website is encrypted using SSL/TLS, and the company’s servers are located in secure data centers. It also offers multi-factor authentication and other security features to protect customer accounts.

Can I import my previous tax returns into TaxSlayer?

Yes, itr allows taxpayers to import their previous year’s tax returns from other tax preparation software or from a PDF version of their tax return. This can help save time and ensure accuracy when preparing the current year’s tax return.

How long does it take to complete my taxes with TaxSlayer?

The amount of time it takes to complete your taxes with this software depends on your individual tax situation and the version of the software you choose. Its software is designed to be user-friendly and can save time by automatically populating certain information, such as employment and income data. However, taxpayers with more complex tax situations may need to spend more time inputting data and reviewing their returns before filing.

Does TaxSlayer offer any guarantees or warranties?

Yes, it offers an accuracy guarantee, which means that if there is an error in your tax return, TaxSlayer will reimburse you for any penalties or interest incurred as a result. It also offers a satisfaction guarantee, which means that if you are not satisfied with the software, you can receive a refund of your purchase price within 60 days of purchase.

It is an advanced tax software that caters to a range of tax needs, from simple to complicated tax situations. The software offers many features and benefits to its users, including the ability to file both federal and state returns, claim dependents, and use a tax refund calculator to estimate their refund amount.

TaxSlayer also offers support for self-employed filers, including help with self-employment taxes, as well as options to claim education credits, student loan interest, and the earned income tax credit. With TaxSlayer, users can be confident in their ability to file their taxes online, with the guidance of a tax expert if needed. Its guaranteed maximum refund and user-friendly interface make it a great option for taxpayers who want to maximize their deductions and ensure they are following tax law.

Can I file my taxes electronically with TaxSlayer?

Yes, it supports electronic filing (e-filing) for both federal and state tax returns. Taxpayers can choose to file electronically or print and mail in their return.

What is the deadline to file taxes with TaxSlayer?

The deadline to file federal income taxes is generally April 15 of each year, although the deadline may be extended due to certain circumstances, such as natural disasters or military service. State tax deadlines may vary and can be checked on the TaxSlayer website or by consulting with a tax professional.

How do I receive my tax refund when using TaxSlayer?

Taxpayers can choose to receive their tax refund via direct deposit, paper check, or prepaid debit card when using them. It offers an option to track the status of your refund on its website.

Does TaxSlayer offer any discounts or promotions?

It may offer discounts or promotions throughout the tax season, such as discounts for new customers or special pricing for certain versions of the software. These promotions can vary, so it’s worth checking the website or subscribing to their email list to stay up-to-date on the latest offers.

What payment methods does TaxSlayer accept?

The software accepts payment via credit or debit card, including Visa, Mastercard, American Express, and Discover. Taxpayers can also choose to have their payment deducted directly from their refund, although additional fees may apply.

Conclusion

TaxSlayer is a tax preparation software that offers a range of features and pricing options to help taxpayers prepare and file their federal and state taxes. The software is designed to be user-friendly and provides live customer support, as well as additional features like prior-year return access and audit assistance.

While the software has received positive reviews for its affordability and ease of use, some customers have reported issues with accuracy and calculation errors, difficulty navigating the software, and unresponsive customer support. However, the number of reviews on the Better Business Bureau (BBB) website may not be representative of all customers who have used this company.

Overall, TaxSlayer can be a competitive option for taxpayers looking for a convenient and cost-effective way to prepare and file their taxes, but it’s important for potential customers to research and evaluate the customer reviews and feedback before deciding if this company is the right tax preparation software for their needs.