An affordable tax filing solution suitable for nearly all circumstances, as per TaxSlayer review.

If you're searching for a budget-friendly tax software, TaxSlayer could be a suitable choice. Their basic paid plan covers all tax scenarios, while higher levels provide additional support and access to tax experts. Additionally, certain filers may be eligible to submit their federal and state returns at no cost.

TaxSlayer is evaluated and compared to other options by CNBC Select in terms of its plans.

TaxSlayer overview

TaxSlayer's pricing system is its main draw, with the lowest-priced plan, TaxSlayer Classic, available for any tax situation. While the level of support from TaxSlayer's professionals varies between tiers, this is different from some competitors who restrict certain tax situations, such as self-employment or rental income, behind more expensive tiers.

TaxSlayer can assist you in filing your taxes by asking you basic questions. Additionally, if you used a different provider last year, you can import your previous year's return as a PDF file. You can also import specific tax documents, such as your W-2 and 1099 forms, and the software will automatically fill in your income information.

TaxSlayer promises a maximum refund and 100% accuracy of your tax return. If the IRS imposes penalties or interest due to a calculation error, TaxSlayer will compensate you. Additionally, if you receive a larger refund or pay a lower tax amount with a different tax preparation software, TaxSlayer will reimburse the cost of using its software.

TaxSlayer, like TurboTax, enables you to deduct the cost of filing from your federal tax refund rather than paying at the time of filing.

Filing state returns with TaxSlayer costs $39.95 per return when using any of its paid tiers. However, if you qualify for and select the Simply Free option, your state returns will be free.

TaxSlayer Simply Free review

Filing both federal and state returns for free and receiving unlimited phone and email tech support is an excellent option for those with a simple tax situation.

To be eligible for free tax filing, your tax situation must meet specific criteria.

• Your taxable income is less than $100,000
• You claim the standard deduction
• You don't claim dependents
• Your sources of income include wages, salaries, tips, unemployment benefits, and/or taxable interest of $1,500 or less.
• Your filing status is single or married filing jointly

If you're unable to find free tax software or other methods to file your taxes, you may need to consider alternative options.

Compare offers to find the best savings account

TaxSlayer Classic review

If you don't qualify for Simply Free, the most affordable plan TaxSlayer offers is Classic, which costs $22.95 and allows you to file a federal tax return with no restrictions on deductions and credits. Additional fees may apply for state returns.

The Simply Free tier offers unlimited phone and email support, as well as assistance with IRS inquiries for one year after your return is accepted. If you receive a letter from the IRS, TaxSlayer's tax support team will help you understand the reason and its implications.

Filing taxes confidently? TaxSlayer Classic is a great option with free tech support and lower pricing than competitors' lower-tier plans.

TaxSlayer Military review

The Classic tier is available for free for active military duty members, but you'll need to pay for state returns.

If you're a military member and don't need to connect with a tax pro, using MiliTax can be a cost-effective option. The software is tailored to the needs of military members, veterans, and their families, and offers support from volunteer tax consultants.

TaxSlayer Premium review

If you require assistance from a tax professional, the Premium tier offers unlimited one-on-one help from a tax expert for $43.42 (state return fees apply). This feature, called "Ask a Tax Pro," allows you to submit your tax questions virtually and receive guidance from an IRS-certified tax professional.

TaxSlayer offers additional support in case the IRS audits you for up to three years after accepting your return. If audited, TaxSlayer's team will review your correspondence, explain your rights, and assist you in preparing a response.

The Premium tier offers priority phone and email support, live chat, and quicker wait times for technical issues with TaxSlayer's software.

This plan is an excellent option for those with complex tax returns, as TaxSlayer premium is competitively priced and can help you save money. Although some competitors may offer additional features such as video chat and screen-sharing, you will pay a significantly higher price to access these features.

TaxSlayer Self-Employed review

For self-employed individuals with a side hustle or small business, the Self-Employed tier of TaxSlayer provides all the features of Premium, along with specialized support for self-employed taxes. This includes access to a tax professional with expertise in this area, as well as IRS Enrolled Agent oversight if you are audited.

TaxSlayer will assist you in maximizing your deductions when you input your business expense income, and you will receive quarterly estimated tax payment reminders.

The Self-Employed plan, priced at $51.62, is significantly cheaper than the competition, with additional state return fees added.

TaxSlayer versus the competition

TaxSlayer's affordability is its main draw, with TurboTax charging up to $89 for self-filing and up to $169 for expert assistance, plus additional state fees. However, TurboTax provides more comprehensive live support, including phone, live chat, and video call options, as well as the ability to share your screen with a tax pro.

To save money on filing taxes, you can use certain tax preparation services that offer free filing, such as Cash App Taxes, which allows you to file both federal and state taxes for free, including for small businesses and self-employed income. However, you won't receive the tax advice that competitors like TaxSlayer and TurboTax provide.

TaxSlayer provides a great balance of affordability and expert tax assistance.

Why trust CNBC Select?

Our goal at CNBC Select is to deliver top-notch service journalism and in-depth consumer advice to our readers, enabling them to make well-informed decisions when it comes to their finances. Each tax software review we publish is the result of thorough reporting by our team of expert writers and editors, who possess extensive knowledge of the tax software market. At CNBC Select, we are committed to maintaining our journalistic standards and ethics, even when we earn a commission from our affiliate partners on many offers and links.

Stay up to date with CNBC Select's comprehensive coverage of credit cards, banking, and money by following us on TikTok, Facebook, Instagram, and Twitter.