TaxSlayer Review: Pros, Cons, And Alternatives

TaxSlayer delivers a high-quality tax filing product, and the updated version for 2024 is no exception. TaxSlayer’s platform and affordable prices make it a top choice, particularly for tax filers looking to save money compared to the biggest tax software providers in the industry.

TaxSlayer does a good job of keeping costs low while offering helpful features. While it falls slightly short in ease of use in a couple of areas compared to the top industry leaders, the much lower price will make up the difference for many users.

Let's dive into our TaxSlayer review and see what makes TaxSlayer one of the best tax software choices of the 2024 tax season.

TaxSlayer - Is It Really Free?

TaxSlayer has a pricing tier called Simply Free for those with simple filing needs. Simply Free works if you earned less than $100,000 per year and had no dependents who claim the standard deduction. Both state and federal tax filing are free in this tier, which isn’t the case with most competing “free” versions.

However, Simply Free is extremely restrictive. For starters, the Child Tax Credit and the Earned Income Tax Credit (EITC) aren’t available. Filers who have HSAs or qualify for dependents will also have to pay for an upgrade to TaxSlayer Classic to complete their return. Classic costs $26.36 for federal and $39.95 per state and covers all tax situations aside from self-employment, which is still cheaper than TurboTax and H&R Block.

For Military Members: TaxSlayer has consistently supported military members. They offer a free Federal return for military members using TaxSlayer Classic, though state filing requires payment. Learn more about TaxSlayer Military here >>

Note: TaxSlayer is also an IRS Free File provider, but the product offered via the IRS website differs in limits and options compared to going direct through TaxSlayer. And if you start on IRS Free File with TaxSlayer, you cannot switch back to the regular version without re-inputting all your information.

What's New In 2024?

Over the past several years, TaxSlayer has made strides in moving from the bargain tier to premium tax filing software without the premium price tag. TaxSlayer succeeds, offering an overall excellent experience at a reasonable cost. Pricing puts it at the bottom of the premium tier, with features far better than most bargain-priced options.

Updates for the 2023 taxes (filed in early 2024) are primarily focused on tax code updates, such as adjustments to tax brackets, the standard deduction, and other credits and deductions.

For 2023, TaxSlayer was our top pick as the Best Tax Software for Student Loan Borrowers, the Best Tax Software for Landlords, and the Best Tax Software for Small Business Owners. Check out our annual Best Tax Software awards.

Does TaxSlayer Make Tax Filing Easy In 2024?

Overall, TaxSlayer simplifies tax filing for many people. It's a great software for landlords and self-employed individuals who need calculators to figure out their net income for tax purposes. TaxSlayer is designed to help you identify and properly claim overlooked expenses and deductions. Self-employed business owners, side hustlers, and landlords can benefit from the TaxSlayer approach.

The big drawback is that you can’t directly connect to your bank account or employer to download your tax information. Instead, you must type it in manually or download and upload files with transaction information where supported.

The two places you can upload and import data are a PDF version of your prior year's taxes to pre-fill some areas of your tax return and copying your investment data into a spreadsheet in a format provided by TaxSlayer for your 1099-B forms.

TaxSlayer Features

TaxSlayer provides premium tax filing software at discount prices. Here's a closer look at what it has to offer: 

Guided Navigation

TaxSlayer offers guided navigation through every section of its software. The experience includes support for recent tax law changes and IRS limit adjustments. Navigation updates bring TaxSlayer closer to the experiences offered by higher-cost TurboTax, H&R Block, and TaxAct.

Specific Examples Of Legitimate Deductible Expenses

TaxSlayer includes “How this works” articles highlighting deductible expenses. These articles make it far easier for people to understand the deductions they can take. Combined with other premium options (like “Ask a Pro”), filers can confidently decide whether they can take a credit or deduction.

While most companies have “knowledge articles” built into their software, TaxSlayer is noteworthy for the quality and applicability of these articles.

All Forms Supported At Classic Level

TaxSlayer Classic supports all major schedules and forms. That means filers with self-employment or rental income can use the Classic option. For premium software, this is a real bargain. Others charge around 5x as much for the same tax filing abilities.

Pro Support Included With Premium

TaxSlayer Premium includes unlimited one-on-one guidance from a tax professional. You can access this support over the phone or via live chat. The total cost for Premium, including support, is less than you would pay for software alone at top competitors.

IRS Inquiry And Audit Support

The Classic level of TaxSlayer includes IRS inquiry support for one year. TaxSlayer Premium includes IRS audit assistance from certified tax professionals for up to 3 years. Lastly, Self-Employed includes complete defense and legal representation from a tax pro in the case of an IRS audit for up to 3 years after the return is accepted. Again, this would be a pricey add-on with most competitors.

TaxSlayer Drawbacks

While TaxSlayer offers an excellent product, there are a few drawbacks that should be pointed out.

No Direct Financial Data Downloads

You can upload a CSV of your stock transactions, but other banking and investing data must be entered manually. While that’s easy enough with a savings account or two, active stock investors and cryptocurrency traders may find this cumbersome. The ability to upload CSV files was added a couple years back, and hopefully, a future update will allow direct downloads of bank and investment account tax data.

No PDF Tax Form Uploads

Some competitors offer the ability to upload a PDF file of your bank or investment 1099 forms, and the software will figure out which numbers go where. That’s not an option at TaxSlayer. You can import a PDF of your return from last year to pre-fill some sections, but you can’t import PDF forms for the current year.

Simply Free Doesn’t Support Credits or Deductions

TaxSlayer has a free pricing tier, but it's only applicable to select filers. To qualify, you must:

• Have less than $100,000 of income
• No dependents
• Only wage or salary income
• Taxable interest up to $1,500
• Unemployment income.

This version doesn’t cover itemized deductions, credits, and other deductions. For example, filers who want to claim the Child Tax Credit or the Earned Income Tax Credit must upgrade.

TaxSlayer Pricing And Plans

TaxSlayer has a unique pricing strategy. Its “Classic” pricing supports all schedules and forms but excludes Audit Support and professional tax advice.

The higher-priced plans allow users to upgrade for those options - including self-employed, which provides help specifically for those with small businesses.

Promo: 20% off Classic: Was $37.95 Now $30.36. Includes all forms + free phone & email support. 

Note: TaxSlayer does raise their prices as you get closer to the tax deadline.

How Does TaxSlayer Compare?

TaxSlayer is an incredibly robust and easy-to-use software, but it doesn’t directly integrate with any brokerage or bank accounts. Because it doesn’t have those integrations, we’re comparing it to some bargain software (FreeTaxUSA and Cash App Taxes) and high-end software (H&R Block and TurboTax).

This year, we recommended TaxSlayer as the best tax software for Side Hustlers and Self-Employed households.

Is It Safe And Secure?

TaxSlayer employs industry-standard security. Logging in requires multi-factor authentication, and servers encrypt all data. But the company’s security policies haven’t always been this good. In 2015, TaxSlayer had a data breach in which 8,800 customers had their data stolen. This breach resulted in enhancements to security, including the requirement to use multi-factor authentication.

Most users can trust TaxSlayer to be safe and secure. But as with all online products, there are still minor risks when using online products for your finances. Use a unique password on every website and follow other cybersecurity best practices to keep your information as safe as possible.

How Do I Contact TaxSlayer Support?

TaxSlayer has a variety of support options. The most robust support help comes for users on the Premium and Self-Employed tiers. However, any customer can use their support email form, live chat, or call their support phone number at 706-922-6741.

TaxSlayer has a solid customer service reputation online. The company is rated 4.3/5 on Trustpilot, with over 24,000 customer reviews. Complaints focus on issues caused by mistakes during filing, indicating confusion during the filing process for some users.

Where To Buy

Unlike other software providers like TurboTax or H&R Block, TaxSlayer doesn't offer a desktop version of its software. So the only way to buy TaxSlayer's cloud-based software is to visit its website or download its mobile app.

TaxSlayer offers an ideal blend of ease of use, quality, and cost. It’s the ideal tax software for self-employed business owners, side hustlers, and landlords who want a useful and intuitive interface and don’t want to spend an arm and a leg on their taxes.

Anyone with simple filing situations may find that Cash App Taxes or H&R Block Free make more sense. But TaxSlayer offers premium software at a highly competitive price for many others.

Get started with TaxSlayer for free and try it out >>

Why Should You Trust Us?

Our team has over a decade of experience reviewing and testing tax software and using different options to do our own taxes. We aim to provide the same advice we would give our families and friends. Our goal is to provide objective and helpful information to guide you to the best tax software for your unique needs.

I personally have been the lead tax software reviewer since 2022, and have compared most of the major companies in the marketplace.

How Was This Product Tested?

In our original tests, we went through TaxSlayer and completed a real-life tax return that included W2 income, self-employment income, rental property income, and investment income. We tried to enter every piece of data and use every feature available. We then compared the result to all the other products we've tested, as well as a tax return prepared by a tax professional.

This year, we went back through and re-checked all the features we originally tested, as well as any new features. We also validated the pricing options.

TaxSlayer FAQs

Here are some common questions we get about TaxSlayer every year.

Can TaxSlayer help me file my crypto investments?

Yes, users can upload a CSV of their crypto transactions this year. However, you can’t download crypto data directly from exchanges like Coinbase.

Can TaxSlayer help me with state filing in multiple states?

Yes, TaxSlayer supports multi-state filing. But filers must pay $44.95 per state.

Do I have to use the self-employed tier for my side hustle?

Technically, filers can use the Classic tier for self-employment and side hustling. Filers who want pro support from self-employment experts can upgrade to the most expensive Self-Employed tier.

Does TaxSlayer offer refund advance loans?

In 2024, TaxSlayer is not advertising refund advance loans. It does have a relationship with Green Dot Bank and allows unbanked people to receive their funds on a TaxSlayer debit card issued through Green Dot. But this option does not entitle people to receive funds any earlier than normal.

Does TaxSlayer offer any deals on refunds?

TaxSlayer offers a “file and go” option where fees are deducted from a filer’s refund. However, this comes with an additional cost.

Is TaxSlayer better than TurboTax?

It depends. We found TaxSlayer to be better for price and pretty good for usability. TurboTax does offer one of the easiest-to-use interfaces, though, and it can make tax filing faster and simpler. However, TurboTax requires a much higher cost.

What are the alternatives to TaxSlayer?

TurboTax is the biggest competitor to TaxSlayer. You can also look at FreeTaxUSA, H&R Block, and TaxAct. Check out our list of TaxSlayer Alternatives here.

TaxSlayer Features