The Good: As seen in some of the best tax software we covered, TaxSlayer has a life events guide which makes it easy for people to recount series of major life events which can easily impact tax returns. Tax slayer allows comparison with previous years making it easy for you to pinpoint any anomalies.
The Bad: The software is well behind the curve if you need to do anything beyond the regular tax calculations. The limited support structure is a worry as well as many people need all the help they can get instantly while filing.
The Verdict: If you are an expert in taxation and have only basic tax filing to do, this software should be more than enough. Otherwise, you will be better off using the #1 product on our list of best online tax software.
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What makes TaxSlayer great tax software?
Over the past few years, this software has slowly moved up in the popularity stakes. It is still not the best or the most popular but it has just enough to be on our list of best tax software. Some of the benefits of using this software include the low-priced state e-filing and the affordability of filing irrespective of what forms you need to include. Using this software, active military members can e-file federal or state returns free of charge. The software offers two categories for filing: the classic edition and a premium edition.
The tax filing software does a decent job in terms of accuracy when compared with some of the best tax preparation software we reviewed. The classic version of this software properly manages childcare credits, property tax, mortgage interest and itemized deductions. It is also relatively easy to use in filing 1040EZs.
Using a guided interview presentation, the software ensures accuracy in returns by covering subjects like your work, your home and dependents narrowing it down to the exact credits and any deductions you may have earned. Errors are checked as you progress and before you file, a final error check is conducted. The software allows you to add placeholders or notes to a particular field if you do not have the answers for the field at the time.
Since the tax filing process is tiring, we made sure that all the programs on our list of best tax software are easy to use. TaxSlayer is no exception. It helps you complete your filing process without need to understand any advanced tax jargon. Although it is not as thorough as other programs on our list of best tax preparation software, the life events section does a good job of finding out areas that may influence your tax section with simple questions. The questions often require straightforward answers. At the end of the questions, the software summarizes all the important details you will need to successfully create your tax return. People who are experts in the filing process can choose the “enter income myself” tab but every other person (or those who need guidance) can select the “guide me through income” tab.
The menu and submenu structure of the software makes it easy to know the different tax sections you need to address and what kind of tasks can be found in each of the sections. However, the lack of a meter displaying completion percentage means that the ability of individuals to know how far they have gone with the process is limited.
On the support front, the software manufacturer only offers email, phone and audit support. These are commonly seen amongst some of the best online tax software but the lack of other support structure like live chat and user forums means that clients have to wait a while to get answers to pressing issues. The lack of forums denies users the ability to get answers to pressing issues from experts and newbies alike.
Why choose TaxSlayer as your tax software?
Decent price on state and federal filing
Free filing for military personnel
Easy to use
Ability to enter details manually or with the help of the software