Editor's Note: Online e-filing services often change what features and prices they offer throughout the tax season. We will update the Online Tax Software reviews as needed throughout the 2014 tax season as new versions are released.
Through the past few years, TaxSlayer has slowly edged its way up our review list and now it is in the top five. TaxSlayer has a few advantages going for it, such as low-priced state e-filing, simple-to-use online tax software and affordable filing options regardless of the IRS forms you need to include. This service will even e-file federal and state returns for active military members free of charge. This online tax software and e-filing service can help you file federal, state, amended and military returns. You can choose between a classic edition ($12.95) and a premium edition ($34.95).
We tested online tax software for accuracy with two common tax scenarios. With our first test scenario, TaxSlayer was able to create an accurate tax return with ease. We used the classic version, which can manage things such as itemized deductions, mortgage interest, property tax and childcare credits. We also tested a 1040EZ filing and found TaxSlayer to be efficient and simple to use.
To help ensure an accurate return, a guided interview presentation will cover subjects such as dependents, your home and your work to narrow down the exact credits and deductions you have earned. It checks for errors as you go and runs a final error check before you file. If you don't have all the pertinent information on hand, you can add a note or placeholder to remind you to add the information later.
Filing taxes is already exasperating, so filing with an online tax service should not be. We found this service easy to use, and it simplifies most terms so you do not need to understand advanced accounting or tax jargon to prepare your taxes. For example, there is a “life events” section that will ask you questions such as, “Would you like to find out how your housing situation might affect your tax return?” You simply answer yes to learn more or no to move on. Once you go through the questions, TaxSlayer summarizes what you'll need to include with your tax return. We like that it gives you the option to seek guidance or enter the information on your own. For example, if you already know how to enter your income, you can select “enter income myself.” If you want guidance, you can select “guide me through income.”
This tax software is simple to use; however, should you need assistance preparing your return, you can contact TaxSlayer by email. In addition, telephone support is available to filers using the free military edition; premium filers get premium support during the tax season. The latter includes tax advice and audit assistance. TaxSlayer is also active on Twitter and posts regularly to Facebook.
With TaxSlayer, you can create a simple or complex 1040 on your own, stress-free, within minutes. TaxSlayer has low-priced, straightforward pricing and easy-to-use software that can help anyone create an accurate return.
TaxSlayer offers affordable options to most filers and free e-filing for military members.
TaxSlayer does not provide software versions for those who prefer to download software to their computer.
Although its support options for free users are limited, TaxSlayer has straightforward pricing and it's simple to use.