TaxSlayer Review – Helping You Slay at DIY Tax Returns
Joy Wallet is advertiser-supported: we may earn compensation from the products and offers mentioned in this article. However, any expressed opinions are our own and aren't influenced by compensation. To read our full disclosure, click here.
Whether you’ve never filed taxes before or are looking for a better option, TaxSlayer may be right for you.
9/10
Cost
9/10
Services
8/10
Ease of use
8/10
Features
9/10
Tax season is underway, and you may feel bombarded with tax filing options. You likely know of a few household names, but those often come with fees that might make your budget wince. Of course, you can go the free route (minus mailing costs) and use the forms directly from the IRS website. But who’s got time for that?
Enter TaxSlayer, a brand with more than half a century of experience in the tax filing industry and a customer base in the millions. Unless you are staunchly loyal to your preferred tax preparer or software or have a complex filing situation that demands you have a top-tier product, spend the next 10 minutes learning more about TaxSlayer and how it can save you time and money. Some will qualify for the free filing option, but even if you don’t, you could see significant savings on your tax prep fees.
In this article
What is TaxSlayer?
For more than 50 years, TaxSlayer has provided tax filing assistance to Americans.
They aim to provide a simpler, less stressful tax filing experience that’s fast and accurate. To show their confidence in their product, they guarantee both the accuracy of it and that you’ll get the largest refund possible.
TaxSlayer does not operate in-person offices or have physical products to buy. Everything is online, and you can use the web version and the mobile app to work on your taxes.
Make $500+ Your First Month With KashKick!
- Transparent information on each offer for earnings and tasks.
- Money is deposited quickly and securely
- Featured offers maximize earnings
- First-class referral program
How does TaxSlayer work?
Creating an account with TaxSlayer is quick and easy to do, and since you don’t pay until you get to the very end, right before your tax return is submitted to the IRS, you won’t be charged for trying it out to see if it’s right for you.
First up, you’ll need to create your account. It takes less than a minute, and you’ll want to choose a secure password and write it down in a safe place for future reference.
After you put in some basic data like your name, address, phone number, and SSN, you’ll be prompted to choose which version of TaxSlayer you want to use. While the Simply Free version is enticing, with free federal and state tax filing, you may not qualify to use it because it only supports W-2 income, doesn’t support children (or other dependents), and income under $100,000.
I created an account to see just how easy it is to use. I’ve used TurboTax for almost a decade, and I found the interface very similar in its look and ease of use.
You are given the option to import last year's tax form in PDF format, however, this is just one of two times you can import documents. There is a W-2 import option, but TaxSlayer does not support importing 1099 and 1098 forms.
Like other tax preparation software, you'll be given a series of statements and request that you check the ones that apply to you. These include whether or not you have a disability if your spouse or a dependent passed away and if you want your documents sent to you in a language other than English.
When it comes to filling out your federal return, you can choose the tax forms you need or be guided by the tax software. Both have their advantages; if you know exactly what forms you need, this may be less tedious than answering pages of questions that may not be relevant to your tax situation.
On the other hand, first-time filers will find the guided option helpful as you’re walked through many questions to ensure that everything is accounted for and to help you get the maximum tax refund.
Once you’ve put in all the basic info, you’ll get a summary you can easily edit if necessary.
I opted to select the forms I wanted. Here’s what it looks like to fill out your W-2 if you don’t import it. It’s not difficult, but double-check your numbers since there’s room for human error.
Once you’ve entered all your income, go through the deductions and credits, as well as ….. You are shown a summary that looks like this.
You get a concise view of the numbers for each main section (in bold black text), with the option to expand each section to get a more detailed breakdown (in blue text).
After this, a review is done to see whether or not there are errors or red flags. You’ll be alerted to them, if any, and prompted to correct them.
From there, it’s time to choose whether or not you’ll use TaxSlayer for your state tax return.
Right before filing, you’ll pay your fees and select how you want to receive your refund. Choose to pay with your credit or debit card or tax refund. There’s an additional fee for this service, and it may take longer to get the remainder of your refund.
You can have your refund sent directly to your bank via direct deposit, choose to receive a paper check (which could take eight weeks to receive), or have the refund money loaded onto a prepaid debit card from TaxSlayer.
Make $500+ Your First Month With KashKick!
- Transparent information on each offer for earnings and tasks.
- Money is deposited quickly and securely
- Featured offers maximize earnings
- First-class referral program
How much does TaxSlayer cost?
TaxSlayer has four plans. Simply Free, Classic, Premium, and Self-Employed.
Simply Free
- Federal $0
- State $0 (one state)
Simply Free is free to file both state and federal taxes. However, for a large percentage of people, it isn’t sufficient. Reasons you may not qualify for the free version include having dependents, having income other than W-2, or earning more than $100,000. The free version does support student loan interest as well as education expenses.
In addition to preparing and e-filing your return, you can download it to save or print out. Free phone and email support are also available for tech issues at this level.
Classic
- Federal $22.95
- State $39.95
TaxSlayer Classic includes everything in Simply Free. It also includes all deductions and credits like the Child Tax and Earned Income Credit. All forms are included in the Classic level. The only reason to upgrade to Premium or Self-Employed is if you want priority support, Audit Assistance, or need help with the filing process for your small business. This tier includes all the forms you need to file your income taxes, including foreign income tax forms like IRS Form 2555 and 1116.
Premium
- Federal $42.95
- State $39.95
With TaxSlayer Premium, you get the same forms, credits, and deductions as Classic but with added customer support. You’ll have access to a live chat with a tax pro and preferred email and phone support access. While all versions get accuracy guarantees, Premium provides three years of Audit Assistance, so you can rest assured that someone will guide you if you are audited.
Self-Employed
- Federal $52.95
- State $39.95
This is what you want for freelancers, small business owners, and self-employed taxpayers. You’ll have access to everything in the Premium version but receive access to a tax professional and be guided through your Schedule C and 1099 forms. After filing, you’ll receive helpful tax and business tips and reminders to pay your estimated quarterly payments.
TaxSlayer features
A 100% accuracy guarantee.
TaxSlayer guarantees that their software is current and can accurately perform calculations. They guarantee that you’ll be reimbursed for the fees and any interest charges if any inaccuracies are found.
Guaranteed maximum refund.
TaxSlayer is so sure they’ll get you the biggest refund possible that they will refund your purchase price if you get a larger refund with a competitor.
Embedded links to detailed explanations.
As you work through your tax return, some links will open a pop-up box with additional information. These are helpful for questions you’re not sure about but without having to upgrade to Premium or search their database of questions and answers.
A mobile version for convenient access to your forms.
Work on your tax forms when and where convenient with the mobile app you can put on your smartphone or tablet. You can seamlessly switch between the app and your online account for times when you ’d rather work on it from your computer.
A support page with articles and a Q&A database.
You can turn to a support page to find answers to questions or read up about tax law changes. The questions are categorized by topic, and the blog has articles that relate to various income and tax-filing topics.
Make $500+ Your First Month With KashKick!
- Transparent information on each offer for earnings and tasks.
- Money is deposited quickly and securely
- Featured offers maximize earnings
- First-class referral program
Who is TaxSlayer best for?
TaxSlayer Simply Free is great for anyone who meets the qualifications. This includes a lot of first-time tax filers (especially teens with part-time jobs), college students, new grads, and anyone with a really simple financial situation.
The Classic, Premium, and Self-Employed versions are good for people who want a lower-cost alternative to more expensive options and don’t mind the lack of advanced features that the competition has (screen sharing and importing documents from banks).
Who shouldn’t use TaxSlayer?
Even with its limitations, most taxpayers would be well-served by TaxSlayer. The people who would benefit most from passing it up for a more expensive, more robust platform are the ones with complicated tax situations. This might be a couple with kids from a previous relationship plus their own, one has a W-2 job while the other is self-employed, and they have a small portfolio of rental properties.
Those who want more one-on-one help from a tax pro or would like to hand it off to a professional will have to look elsewhere. TaxSlayer provides some assistance at the Premium and Self-Employed tiers, but other places offer more options for getting expert assistance.
Related: Money Moves to Make Before April 15
Pros & cons
Pros
- Totally free tax filing for people who qualify. Almost all other programs offer free federal filing but charge a fee to file state tax forms.
- Discount for active military members. Active military members can have access to Classic (a $22.95) value for free. The drawback is that they still need to pay $39.95 for state filing. Those who qualify for Simply Free are better off using that version.
- College students can use Simply Free. Free options from competitors usually exclude the forms for student loan interest and education-related deductions. TaxSlayer makes it possible for single students with no dependents to file their taxes for free and take advantage of applicable deductions.
- Affordable tax software for almost everyone. TaxSlayer is a solid product that guarantees an accurate tax return and maximum refund without charging nearly as much as some competitors. Unless you have a complex tax situation, a lot of 1099 forms, or want more email and phone support from tax pros, TaxSlayer is worth serious consideration.
Cons
- Limited ability to import documents. The option to import your W-2 is only available for those who purchase access to the Classic version.
- No option to have a professional handle the entire process. Some expert assistance is available with the Premium and Self-Employed versions. However, there isn’t an option for live screen sharing, video chats, or the ability to hand everything off to a tax pro and let them prepare your income tax return.
- Doesn’t sync with banks and brokerage firms. The fact that TaxSlayer isn't set up to import forms from your brokerage and bank accounts may be a deal-breaker for people with multiple bank or investment accounts.
TaxSlayer vs. competitors
Company | Federal | State |
TaxSlayer | $0 to $52.95 | $0 to $35.95 |
TurboTax | $0 to $169 | $0 to $49 |
TaxAct | $0 to $64.99 | $39.99 to $44.99 |
H&R Block | $0 to $85 | $0 to $39.95 |
TurboTax
TurboTax offers a variety of features and add-on options to make tax season easier. You can DIY your taxes or hand them off to a TurboTax pro who will handle everything for you. The free version is limited in scope and best for people with uncomplicated finances.
TaxAct
The TaxAct free version is only free for federal filing, though state filing is cheaper than with other versions. The Free version doesn’t offer forms for a student loan or mortgage interest, which makes it less attractive than TaxSlayer. You can complete your forms on your computer or with their mobile app.
TaxAct supports auto-uploading documents and can import forms from multiple banking institutions. One way TaxAct stands out is that all customers get one-on-one assistance from the Xpert Assist tax experts.
H&R Block
The H&R Block free version supports more complex situations than TurboTax, TaxAct, and TaxSlayer, which one is best for you will vary depending on your filing situation. H&R Block supports earned income credit, student loan interest, and unemployment.
The Deluxe, Premium, and Self-Employed versions all offer higher levels of support, and each one offers more forms than the previous level. You can add Online Assist for more thorough help from a tax expert.
Earn Real Money Fast by Filling Out Surveys!
- Sign up for FREE & complete your profile
- Earn points for taking surveys
- Redeem your points for cash or gift cards
- $55k+ Paid to Survey Junkie members daily
- Complete 3+ surveys a day, earn up to $100/mo.
FAQs
Can I import my W-2 and other documents?
With the Classic and Self-Employed versions, you can upload your W-2, but with Simply Free, you will need to enter the information manually. You cannot automatically import 1098, 1099, or other forms with TaxSlayer.
Is Simply Free really free?
Yes, it’s totally free. The only caveat is that your situation falls within what is supported by the free version. You can only have W-2 income, no dependents, and must earn less than $100,000.
How easy is it to switch from another tax prep program?
TaxSlayer makes it easy to switch. After you create an account, upload a PDF of your tax return from last year.
The bottom line
Whether you’ve never filed taxes before or are looking for a better option, TaxSlayer may be right for you. For people who can use Simply Free, it’s a no-brainer since it will cost you $0. Even if you don’t qualify, Classic is much cheaper than several competitors, and you get access to all the tax forms you’ll need for just $22.95.
People with more complex tax situations may want the bells and whistles that others provide, but that comes with a price tag about three times higher. If you are comfortable doing your taxes with software assistance and you don’t have too much data to enter manually, then TaxSlayer is worthy of consideration.
Joy Wallet is an independent publisher and comparison service, not an investment advisor, financial advisor, loan broker, insurance producer, or insurance broker. Its articles, interactive tools and other content are provided to you for free, as self-help tools and for informational purposes only. They are not intended to provide investment advice. Joy Wallet does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances. We encourage you to seek personalized advice from qualified professionals regarding specific investment issues. Featured estimates are based on past market performance, and past performance is not a guarantee of future performance.
Our site doesn’t feature every company or financial product available on the market. We are compensated by our partners, which may influence which products we review and write about (and where those products appear on our site), but it in no way affects our recommendations or advice. Our editorials are grounded on independent research. Our partners cannot pay us to guarantee favorable reviews of their products or services.
We value your privacy. We work with trusted partners to provide relevant advertising based on information about your use of Joy Wallet’s and third-party websites and applications. This includes, but is not limited to, sharing information about your web browsing activities with Meta (Facebook) and Google. All of the web browsing information that is shared is anonymized. To learn more, click on our Privacy Policy link.
Images appearing across JoyWallet are courtesy of shutterstock.com.
Writer
Charlotte Edwards is an educator-turned-freelance writer based in Beijing, China. She writes personal finance and parenting content for both digital and print publications around the world.
Share this article
