Best Reviews TopConsumerReviews.com Best Tax Software Best Reviews
Best Reviews
      July 4, 2020

Home  >  Tax Software  >  Tax Slayer vs Tax Act

Best

Tax Software

  1. TurboTax
  2. E-file
  3. Tax Slayer
  4. eSmart Tax
  5. Liberty Tax
  6. Tax Act

Your Information Is Secure
Frivolous Tax Arguments Newsletter

Compare Products

  • Select any 2 companies in our reviews to compare them head-to-head!

Latest Reviews

Credit Counseling

Feather Pillows

GMAT Test Prep

GRE Test Prep

Homeschool Supplies

Investment Newsletters

LSAT Test Prep

MCAT Test Prep

Senior Care

Thyroid Health

 

Individual Reviews

H&R Block

TurboTax

E-File

Tax Slayer

eSmart Tax

Liberty Tax

Tax Act

 

Our professional reviewers evaluate products and services independently, but Top Consumer Reviews may earn money when you click on the links on our pages. Learn more.

Better Business Bureau Reliability Seal

Tax Slayer vs Tax Act

Best Tax Software

To help you find the Best Tax Software, TopConsumerReviews.com provides you with an in-depth comparison of Tax Slayer and Tax Act.

To see ALL of our reviews for the Best Tax Software, please Click Here

What's the best tax software for preparing your federal and state returns? In the past, many taxpayers either tried to slog through the paperwork on their own or spent huge amounts of money to hire a professional tax preparer. Of course, in today's digital age, it should come as no surprise that more than 53 million people use tax software to prepare and file their returns online.

One of the most compelling reasons to use a reputable tax software package is because of the constant changes to tax law. Figuring out what exemptions you qualify for, what income requires you to pay additional taxes, and how to claim any deductions can be challenging and also have a major impact on whether you get a big refund - or owe big time!

Continue reading below reviews

Best Reviews

2020

Tax Software Reviews

3 stars
Tax Slayer

TAX SLAYER

Visit Site

Cost:

Simply Free Federal + State - $0

Classic Federal - $24

Premium Federal - $37

Self-Employed Federal - $47

Ultimate Federal - $57

State Filing - $29 per state

TaxSlayer is the best choice for people who are comfortable with preparing their taxes and who want to save money. It's one of the only tax software products in our review that offers a completely free option for both Federal and State filing.

Why should you be comfortable with tax prep to choose this program? Two reasons: getting responses from TaxSlayer representatives can take up to 48 hours via email, and even though the company advertises support via phone and chat, those channels aren't easy to find. And, if you need audit assistance, you only qualify for help from TaxSlayer if you've used their Premium software package. No returns with Schedule C, K-1, or form 2555 will be covered, either.

On the other hand, TaxSlayer has some features that make it worth considering. First and foremost is the fact that they're less expensive than most of their competitors. Take a look at what you get with each of the provider's tax prep packages:

  • Simply Free - if you're single or married-filing-joint, you can prepare and file your Federal AND State tax returns for free. This package includes any education deductions and credits you may qualify for.
  • Classic - if you have dependents, this could be the right package for you. You'll pay $24 for your Federal prep and file, and $29 for each State return needed. You can easily import your W-2, and all deductions and credits are included. Classic is offered at no charge to active duty military; you'll find that option under Products & Pricing at the top of the site.
  • Premium - get all the features of the Classic package plus 3 full years of IRS audit assistance, priority support, and access to tax pros if you have questions. This package costs $37 for Federal and $29 for each State return.
  • Self-Employed - you keep all the features of Premium, plus extras specific to self-employment (1099 and Schedule C support, access to a tax professional with expertise in self-employment, personalized guide to self-employed taxes). You'll pay $47 for Federal and $29 per State return.
  • Ultimate - for $57 (Federal; State returns are still $29), you'll add identity protection/restoration services and preferred support access, plus one-on-one help from a tax pro on any questions you may have.

After we browsed the site for a while, we got a pop-up offering us a discount of 20% on our Federal e-file.

Another nice perk is the possibility of paying nothing out of pocket when using TaxSlayer. If you qualify for a Federal refund and opt to have it delivered via direct deposit, you can choose to have your TaxSlayer fees deducted from that refund.

TaxSlayer guarantees to give you the maximum refund you're entitled to receive; if you enter the same data in any other tax software and come up with a bigger refund, TaxSlayer will give you back any fees you paid them. The site also has a helpful Tax Refund calculator, which you'll find under the Support & Tax Tools link at the top of the page. Of course, this tool only gives you a rough estimate and is not meant to give you detailed information, especially if your tax situation is complex.

While TaxSlayer has a generally good reputation, with an average of 8 stars out of 10 across 4000+ customer reviews, some customers had issues when trying to use this tax software close to the filing deadline. The site crashed, data was lost, and people were scrambling to use other online tax prep services - which they were able to do without a problem. We appreciate that TaxSlayer responded to those customer complaints with a commitment to improve their service, but this might not be the ideal software to choose if you've put off doing your taxes until the last possible minute.

TaxSlayer is a great choice if you've got a simple return and want to file both Federal and State tax returns at no cost. Or, if your return is a little more complicated and you're familiar with the process of preparing your taxes, this tax software might save you a little money over the competition. But, if you want a well-rounded tax prep program that will walk you through all of the steps and that offers abundant customer support, TaxSlayer won't be your best fit.

Visit Site
2 stars
Tax Act

TAX ACT

Visit Site

Cost:

Simple Federal - FREE

Basic Federal - $14.95

Deluxe+ Federal - $47.95

Premier+ Federal - $57.95

Self-Employed Federal - $77.95

State Filing - $19.95 to $39.95 per state filed

Desktop software also available for purchase

At first glance, TaxAct looks like a reasonable option for tax software. While they don't offer the in-person help options that some of their competitors have, TaxAct does have a wide variety of tax prep programs that includes online and downloadable software.

Since most people opt for the online plans, here's what you can expect from TaxAct's packages:

  • Free - includes simple Federal e-filing, even if you have retirement income. Ideal for single or married people who only have W2 income. This does not allow you to import prior years' tax returns.
  • Basic+ - for $14.95, you can access the tax prep software best for filers with college expenses, child tax credits, and education expenses. You have the ability to import the prior year's return (as a PDF), and you get unlimited tax specialist support and Federal e-filing.
  • Deluxe+ - with all the features of Free and Basic, plus itemized deductions and credits like HSAs, mortgage/student loan interest, and adoption credits, Deluxe+ costs $47.95.
  • Premier+ - if you have investments, rental properties, and/or foreign bank accounts, you'll need this plan for $57.95. You get everything included in the first three packages, along with prioritized customer support that includes the ability to use screen sharing to resolve problems.
  • Self-Employed+ - if you are self-employed, an independent contractor or sole proprietor, this package helps you make sure to get the maximum tax benefit for your situation. All of the features through Premier+ are included, and TaxAct's Deduction Maximizer is a tool that can ensure that you get every deduction to which you may be entitled. This package costs $77.95

If you need to file State tax returns as well, you'll pay anywhere from $19.95 to $39.95 per state, depending on which Federal package you select.

One of the features of TaxAct that we like is the ability to use the software interface to work on any section of your return that you prefer. For example, if you want to enter details in the Life Events (Marriage/Divorce, Health Insurance, etc.) section first, then switch over to Dependents, you can. As you work through the various questions that apply to your situation, TaxAct has pop-ups that will explain to you exactly what forms you may need in order to claim deductions and receive credits, prove your income, and so forth.

TaxAct checks all of your work and lets you know if there are any potential problems with information you've entered. Red Alerts indicate that you have incomplete or inconsistent details that might prevent you from filing or trigger inquiries from the IRS. Yellow Alerts happen for potential problems or for items that you may need to take extra steps to complete your return. Finally, Green Alerts let you know where you may have opportunities for tax savings, but aren't items that would prevent you from submitting your tax return.

When it comes to refunds, TaxAct lets you choose between a check, direct deposit, or an American Express Serve Debit Account. You can also get up to a $100 bonus if you opt to get part of your refund on a gift card from popular retailers like Nike, AMC Theaters, and Groupon.

So, after all of these positive aspects of TaxAct, why would we rank them so low when compared with other tax software programs? It's all because of recent customer experiences. At the time of this review, we found dozens of complaints from the preceding month that described horrible experiences when trying to get help from TaxAct's customer support. People said that unless they tried to place their call within the first few minutes of the business day, they got messages saying that the phone lines were "full" for the rest of the day. Similar frustrations were reported with trying to get help via TaxAct's email support; some people said they waited 8 days to get a response via phone and email together, and got nothing.

It was also disappointing to see that customers who used TaxAct for nearly a decade felt that they had to abandon the platform because of all of the problems they encountered in the most recent tax year. Why would a new customer want to sign up for this service if long-term customers are switching to a different tax prep service?

We hope to see more positive comments in the future, but for now we recommend that you look to one of the better-rated tax programs in our evaluation - especially if you are new to doing your own taxes, so that you'll have access to the customer support you may need.

Visit Site

Continued from above

Tax software can save you a lot of time and stress by staying up-to-date on each change made by the IRS, so that your return is accurate to the penny. But with all of the different options out there, how can you decide which tax software is right for you?

Here are several factors to keep in mind:

  • Complexity of Your Return. If you're a small business owner who owns a home and has numerous investments, your return will be much more complicated than a single person with no dependents and renting an apartment. Make sure the tax software you choose fits your situation.
  • Format. Do you need or prefer to have a tax prep program that can be downloaded to a laptop rather than used 100% online? If your internet connection is limited, you may want a program that lets you work offline all or most of the time, with options to file your return on paper as well as via e-file.
  • Live Help. If you're unsure of yourself when putting together your return, you may feel more reassured if you choose a company that offers help in real time from tax professionals. Some services give you that assistance via phone and/or live chat, while others maintain brick-and-mortar offices throughout the US that you can visit in person. Be sure to check if these services are included with the purchase of the tax software or if you'll have to pay extra for them.
  • Cost. What will you spend to prepare and file your tax return? Is it comparable to what you'd pay for tax software on a competitor site? Most services don't include state preparation and filing in their federal tax prep packages, so look for those additional fees if that applies to your situation.

TopConsumerReviews.com has reviewed and ranked the best Tax Software available today. We hope this information helps you choose the right package for your needs, so that you can file your returns accurately and easily!

The best tax software of 2020

With many online tax programs available, there are plenty of options to do your taxes at home in a relatively easy manner. But which one should you use? There are pros and cons to all of them, so to ...

Published:  Thu, 02 Jul 2020 10:18:00 GMT



Tax software provider Vertex files for a $100 million IPO

The article Tax software provider Vertex files for a $100 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com. Investment Disclosure: The ...

Published:  Thu, 02 Jul 2020 13:26:00 GMT



EzPayCheck 2020 Payroll Software Has Been Updated With Flexibility For Health Care Facilities

Paycheck payroll software from Halfpricesoft.com has released the 2020 paycheck software for healthcare office accommodation. ezPaycheck allows for employee payroll, vendor payments for supplies, W2, ...

Published:  Fri, 03 Jul 2020 01:42:00 GMT



GoldenSpy backdoor installed by tax software gets remotely removed

As soon as security researchers uncovered the activity of GoldenSpy backdoor, the actor behind it fell back and delivered an uninstall tool to remove all traces of the malware.

Published:  Thu, 02 Jul 2020 06:44:00 GMT



Tax software company Vertex files for initial public offering

Vertex Inc. said late Thursday it plans to go public after 40 years as a private company. The King of Prussia, Penn.-based tax software company said it plans to raise up to $100 million in the ...

Published:  Thu, 02 Jul 2020 14:00:53 GMT



Spyware hidden in Chinese tax software was probably planted by a nation-state, say experts

The malware's sophistication, and the lack of an obvious quick payoff, seems to show it was planted by a nation-state, says cybersecurity firm Trustwave.

Published:  Thu, 25 Jun 2020 06:12:00 GMT



Share Us!   

Home      About Us      Terms & Conditions      Privacy Policy      Contact Us      Disclosure