TaxSlayer
$0 - $52.95
Strengths
- One of the cheapest options to file complex tax situations
- Active-duty military can file a federal tax return for free
- One-on-one tax guidance is available
- Can file student loan interest and education credits for free
Weaknesses
- Doesn’t sync with banks and brokerage accounts
- Simply Free tier doesn’t support dependent tax credits
- Can be harder to navigate than pricier services
- Tax expert won’t prepare or review your return
Filing taxes is an annual spring ritual that most of us hope to finish quickly and cheaply.
TaxSlayer offers low cost, online tax prep. Their free version isn’t as comprehensive as other platforms, for example it doesn’t support dependents. However, their paid plans are less expensive than their competitors.
This TaxSlayer review can help you decide if this is the best way to file your taxes.
🔃 This post was updated on 12/26/2023 with the new 2024 pricing.
Table of Contents
Is TaxSlayer Really Free?
TaxSlayer lets you file these simple tax returns for free:
- Taxable income under $100,000
- Standard deduction
- W-2 income
- Unemployment income
- Student loan interest
- Education expenses
- No dependents
- Taxable interest of $1,500 or less
Basically, if you only have W-2 or unemployment income, earn less than $100,000, and don’t have any dependents you can file for free. This includes both federal and one state. There are a few states that are excluded from free filing. Those are Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming.
TaxSlayer Pricing
The TaxSlayer filing fees can be cheaper than most tax software for federal and state returns.
Simply Free
- Federal cost: $0
- State cost: $0
The Simply Free plan offers one free federal and one free state tax return. There are a few states excluded from free returns. Those states are Alaska, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming.
You can use this plan if your taxable income is under $100,000, you claim the standard deduction, and don’t have any dependents. You must also file either single or married filing jointly.
It covers W-2, unemployment, and interest income up to $1,500. If you have any other types of income, such as 1099, business income, rental income, or investment income, you won’t be able to use this plan.
You must take the standard deduction, but you can deduct student loan interest payments and claim education credits.
You can upload last year’s return and get unlimited phone and email technical support, and TaxSlayer will auto-fill your W-2 form to prevent reporting errors.
This free filing option supports fewer tax situations than many other tax software. For example, other platforms let you claim common tax credits for dependents like the Earned Income Tax Credit and Child Tax Credit.
This plan doesn’t include IRS audit assistance like the paid plans. However, these returns are unlikely to cause an audit red flag because of their simplicity.
Get started with the Simply Free Edition
Military
- Federal cost: $0
- State cost: $39.95
Federal returns are free if you’re an active-duty servicemember, but each state return costs the standard $39.95.
All tax situations are included. No restrictions.
You’ll also get up to one year of IRS inquiry assistance.
Get started with the Military Edition
Classic
- Federal cost: $22.95
- State cost: $39.95
The TaxSlayer Classic covers all tax situations with no restrictions. All income types, deductions, and credits are covered in the Classic plan.
You’ll also be able to auto-fill your W-2 and 199 information and e-file. You’ll also get a year of phone and email support after you file in case you have additional questions.
Get started with the Classic Edition
Premium
- Federal cost: $42.95
- State cost: $39.95
With Premium, you’ll get everything from Classic, plus:
- Ask a Tax Pro one-on-one tax guidance
- Live chat technical support
- Priority customer support
- Up to three years of IRS audit assistance
The Ask a Tax Pro feature can be the best reason to upgrade if you need personal tax advice while preparing your return. Your federal filing fees can easily exceed $100 for on-demand tax expert access from other providers.
You also get up to three years of assistance if the IRS audits your federal tax return.
Get started with the Premium Edition
Self-Employed
- Federal cost: $52.95
- State cost: $39.95
Freelancers, side hustlers, and the full-time self-employed can benefit from the Self-Employed plan to file your Schedule C.
The service can also send quarterly reminders for estimated taxes.
Plan benefits include:
- Ask a Tax Pro access
- Unlimited phone, live chat and email technical support
- Estimated quarterly tax payment reminders
- Up to three years of IRS audit defense
- Self-employment income and deduction guidance
Receiving a 1099 form for side hustle income doesn’t necessarily mean you should choose this plan. If you have minimal work expenses, the Classic or Premium option can be sufficient for your tax situation.
If you aren’t sure if you need the Self-Employed plan or if Classic will suffice, start with Classic and upgrade to Self-Employed if you have to.
Get started with the Self Employed Edition
Refund Options
If you’re eligible to receive a federal tax refund, there are several ways to receive it. TaxSlayer e-files your return and helps track your refund status.
Direct Deposit
All online tax software offers direct deposit and a mailed paper check if you pay your tax prep fees upfront. These are the two default delivery options from the IRS.
Direct deposit can be the fastest and easiest way to receive your tax refund. The IRS sends most refunds within 21 days using direct deposit.
Paper Check
The second way the IRS distributes tax refunds is by paper check. There isn’t an extra fee but it can take up to eight weeks (56 days) to receive your payment.
TaxSlayer Visa Debit Card
You may also choose to receive your refund on a TaxSlayer Visa Debit Card Powered by GreenDot.
This is a reloadable prepaid debit card with no monthly service fees.
The card also includes these features you can use after getting your tax refund:
- Free ASAP Direct Deposit
- No overdraft fees
- ATM access
- Mobile app
Extra fees can apply when you reload your card at local stores or for expedited mobile check deposits.
File and Go
You can deduct your TaxSlayer fees from your tax refund with the File and Go option. The IRS deposits your refund into an escrow account run by Civista Bank (FDIC #12982).
TaxSlayer withholds your tax prep fees and the remaining balance deposits into your linked bank account or prepaid debit card.
You might choose this payment option if you don’t have a credit card to pay the filing fees or don’t have the upfront cash.
There isn’t any additional fee for File and Go. Some platforms charge an add-on fee for this convenience.
Customer Support
You might expect minimal customer support from TaxSlayer as it’s a low-cost tax software. Pricier platforms may offer better one-on-one support but the basic support options are similar.
The service offers these standard tools:
- Online knowledge base articles
- Phone and email technical support
These essential tools can be sufficient for most tax situations and help navigating the tax interview. You won’t be able to receive personal tax guidance but you can research your questions online.
Upgrading to the Premium or Self-Employed version lets you ask written questions to a tax expert. This access is cheaper than other platforms but the competition may offer real-time video streaming and screen sharing.
Another reason to upgrade is getting priority technical support. The TaxSlayer support team will respond to you first when you have difficulty navigating the platform.
Key Features
Here are some of the best features that TaxSlayer offers to make filing your return easier.
Auto-Import
You can auto-import last year’s tax return by uploading a PDF document from any tax software. The company compares your credits and deductions for this year and last year to see if you forgot anything.
TaxSlayer can also autofill your W2 tax forms, which reduces the likelihood of overlooking a box or mistyping a number.
Unfortunately, TaxSlayer doesn’t upload investment documents.
Ask a Tax Pro
The Premium and Self-Employed plans come with unlimited “Ask a Tax Pro” access.
You can submit questions online to an IRS-certified tax expert and receive an answer via email or on the TaxSlayer platform.
Pricier services may let you share your screen with a tax expert and schedule a consultation. Other platforms may also offer the expert to review your return or complete it for you.
TaxSlayer doesn’t offer full-service assistance but its lower cost can be sufficient if you only need to ask questions.
IRS Audit Assistance
The TaxSlayer Classic and Military plans offer one year of IRS inquiry assistance. Coverage starts when the IRS accepts your e-file return.
You get three years of IRS audit assistance when you upgrade to Premium or Self-Employed. If the IRS audits your return, TaxSlayer provides audit preparation assistance.
However, a TaxSlayer agent won’t provide in-person representation during the audit process.
Donation Calculator
Itemizers can track cash and non-cash donations using a donation calculator. This tool is similar to other platforms but you can pay less to file an itemized return with TaxSlayer.
Self-Employed Help
Similar to other online programs, choosing the Self-Employed tier provides special tools that cheaper levels do not.
For example, the TaxSlayer tax interview wizard can help you find industry-specific deductions you may overlook by choosing a cheaper plan.
You can also print off forms for estimated taxes and receive quarterly reminders you don’t miss a filing deadline.
TaxSlayer also sends tax tips during the year that can help you maximize your self-employment income.
Guarantees
Two accuracy guarantees can provide peace of mind. These guarantees are similar to other online tax prep services.
100% Accuracy Guarantee
TaxSlayer reimburses any federal or state penalties and interest due to a calculation error.
Maximum Refund Guarantee
You can get a refund of your TaxSlayer fees if another tax software calculates a higher refund or smaller tax liability using the same information.
Is TaxSlayer Easy to Use?
The TaxSlayer platform can be easy to use but you will need to manually enter more tax documents than pricier platforms like TurboTax or H&R Block.
Another platform can be worth the higher fee if you have several brokerage statements to input or have several investment sales to report. The auto-import convenience can save you time and reduce the probability of data input errors.
TaxSlayer Mobile App
The TaxSlayer app is available for Android and Apple devices.
App features include:
- W-2 import
- Tax help articles
- Phone technical support
- Tax refund estimator
Because TaxSlayer doesn’t import tax documents from banks and discount brokers, the app may be best for simple returns that require minimal data entry. You can also start your return using the app and complete the return on a computer that can be easier to use.
Is TaxSlayer Legit?
TaxSlayer is a legit app to file your taxes at a low price. The service has a 4.5 out of 5 Trustpilot score (March 15, 2021), which is higher than most competitors.
One recurring positive TaxSlayer review is the transparent pricing and the step-by-step walkthroughs for simple or complex situations.
Common negative complaints include not being the easiest app to navigate or being the best service if you have investments as you must manually enter all of the investment income. This can be a time-consuming task if you sold multiple stocks or use multiple brokers.
Positives and Negatives
Pros
- One of the cheapest options to file complex tax situations
- Active-duty military can file a federal tax return for free
- One-on-one tax guidance is available
- Can file student loan interest and education credits for free
Cons
- Doesn’t sync with banks and brokerage accounts
- Simply Free tier doesn’t support dependent tax credits
- Can be harder to navigate than pricier services
- Tax expert won’t prepare or review your return
Summary
TaxSlayer is one of the best discount software because of its competitive prices for complex tax situations. The Ask a Tax Pro is an affordable option too.
Another platform may make it easier to file your taxes for free if you have dependents. Investors with many tax documents may prefer spending the extra money and using TurboTax that syncs with most financial institutions to save time.
