Just like their team driver, Dale Earnhardt Jr., TaxSlayer is rubbing tires with the competition and vying for a trophy spot in the extremely aggressive tax service market. Through the years, they have slowly edged their way up our review list and now are closing in on the three industry leaders. TaxSlayer has a few advantages going for them, such as low-priced state eFiling, simple-to-use online tax software and low-priced filing options regardless of the IRS forms you need to include.
This online tax software and eFiling service can help you file federal, state, amended, prior-year and military returns. They offer a classic edition ($9.95), a premium edition ($19.95) and a free military edition. TaxSlayer is a bit different in that their price is not based on what type of 1040 you file; instead, it's based on the level of support you need. The fee for eFiling a state return ranges from $7.95 to $17.90, depending on which edition you use. Active duty military personnel can file federal and state returns through TaxSlayer free.
This year we tested online tax software with a rather common tax scenario to see how accurate of a return the software could create. With our test scenario, TaxSlayer was able to create an accurate tax return with ease. We used their classic version, which can manage things such as itemized deductions, mortgage interest, property tax, childcare credits, medical deductions and 1099-MISC income.
To help ensure an accurate return it has a guided interview presentation that will cover subjects like dependents, your home, your work and more to narrow down the exact credits and deductions you have earned. It checks for errors and runs a final error check before you file. To help you not forget to add pertinent information you can add a note or placeholder to remind you to add the information later.
TaxSlayer online tax service makes eFiling easy. Getting through the filing process is simple when all you have to do is fill in boxes and click “continue” or “cancel.” Their classic edition for online tax filing is competitively priced and provides most of what we were looking for in an online tax service, including error checking, a refund and audit meter, guided interviews, electronic filing, tax return status checks and direct deposit for refunds. To speed up the process it can import from last year's TaxSlayer eFile; however, we did not see an option for pulling data from other tax services. It also cannot automatically import W-2s and 1099s.
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?” To learn more, you simply answer yes or no. Once you go through the questions, TaxSlayer gives you a summary that will help remind you what you need to include with your tax return. We also 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 or telephone. Although they do not provide telephone support to filers using the free edition, they do provide telephone support to classic filers and priority support to premium filers during the tax season. Priority support for the premium filers also includes tax advice and tax audit assistance. They also are active on Twitter and post to their Facebook account often. Though we found their support adequate, some of our higher-ranked tax services also offer chat support and more extensive tax information online.
With TaxSlayer, you can create a simple or complex 1040 on your own, stress-free, within minutes. You only have to pay more if you need assistance, unlike other services that charge based on the type of 1040 you file (some even charge extra for every form you file). TaxSlayer has low-priced, straightforward pricing and easy-to-use software that can help anyone create an accurate return. Just like their Nascar driver, they are hard to beat.
