TaxAct

Category Accounting
Reviewed by Maria
Updated Dec 8th, ’21

Tekpon Score

8.9

Users Score

7.5

TaxAct Review

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If you seek a budget-friendly option to file your tax without hassle, TaxAct is the right way. TaxAct is a tax software that simplifies the process of filing your tax return yourself. The tax company helps you file both your state and federal taxes. Whether you are an individual looking for deductions or filing a federal return, the software provides step-by-step guidelines with a question-and-answer format.

Like most online tax software, the software offers different packages with specific tax forms. The more the service you want, the more you’ll pay. Tax filers who have experience with taxes and are looking for a seamless experience at reduced cost will find TaxAct enjoyable.

UI/UX

8.9

Ease of use

9.0

Value for Money

9.2

Features

8.9

Customer Support

8.5
Pricing Details

Starting from: $47.95

Pricing Model: Subscription

No free trial

Yes, has free version

PROs
  • Several helpful tools
  • Value for money
  • Affordability
  • Guaranteed accuracy
CONs
  • Poor customer service
  • Additional fees for state returns
  • Fewer bells and whistles
Best for
  • Small business
  • Medium business
Deployment
  • Cloud, SaaS, Web-Based
  • Mobile - Android
  • Mobile - iPhone

TaxAct – Free Tax Software for the U.S

TaxAct online tax company is free for users in the United States. With TaxAct free filing, you can e-file your state and federal tax returns with no income or age restrictions. The tax preparation software offers detailed and straightforward guides to ensure your maximum tax refund. The tax software is free to prepare and print. Also, you get the fastest tax refund possible with a free e-file.

TaxAct free app handles simple and complex tax returns for users on both web and mobile. It supports 1040, 1040A, & 1040EZ and includes all e-fileable IRS forms to handle all filing statuses & life situations. It goes further to help you find all credits & deductions for the biggest refund you deserve. The product can boost your tax savings with deduction, credit, and Income Examiners. Meanwhile, your biggest refund is guaranteed with TaxAct’s Maximum Refund Pledge. After answering TaxAct’s simplified questions, you will see how changes affect your refund.

Suppose you are stuck on any tax question, don’t fret. The TaxAct answer center gives you personalized and professional support to help you sail through the questions. All you need is to search for the tutorial videos and answers on the software. Another way of finding answers to your question is to contact the technical and TaxPayer Support specialists by email with paying. Also, you can receive premium one-to-one help through the phone for a one-time fee for the entire 2013 tax year. When you connect with TaxAct CPAs and tax experts, they help you navigate your tax situation in minutes.

TaxAct Filling

The process of filing your tax on TaxAct free software is streamlined for all levels of users, and the prompts are easy to follow, especially with investments and rental property. In addition, it has several educational tools and provides audit protection. After filling in the necessary information, TaxAct Review helps you go through the information you supply to sort out the following:

  • Inconsistent information
  • Incomplete information
  • Potential inaccuracies
  • Potential tax savings

TaxAct reviews ensure you have a perfect tax filing before submitting. If you have any issues at the review point, you can check the tutorial videos or call for technical software support. TaxAct free software is both web and mobile-based. The mobile form of the software is called TaxAct Express, and the app is free for Android and iPhone users. Some of the best features of the mobile app include Face ID support for a safe and secure login, IRS refund tracking, free federal extension filing, W-2 capture for your earnings, and maximum support through live chat.

Switching from the mobile app to desktop is easy without disrupting your progress when preparing your return, and the app supports all TaxAct’s digital products. Also, when you prepare and file returns through the app, it comes with the $100K Accuracy Guarantee. In addition, you can get customized product recommendations and notifications when the state and IRS process your returns.

What is TaxAct?

If you seek an efficient and intuitive interface to file your taxes, TaxAct can be of help. TaxAct is a tax software designed to help consumers looking to file a basic federal return for free, business owners, freelancers, and contractors who want to maximize every deduction they can get. The tax software boasts of providing a $100,000 accuracy guarantee and a full refund guarantee. In addition, after the filing date, users have access to their returns for seven years.

TaxAct helps users navigate the usual complexities of tax and finance with ease and at affordable rates compared to other tax software. The tax software is filled with a comprehensive list of digital, downloadable, and mobile solutions to fast, easy, and affordable tax filing. It asks you a series of simple questions, covering tax law changes and increasing your credits and deductions. After e-filing, you will get a notification that the IRS has accepted your return. Then, TaxAct helps you check the status of your federal refund.

Professional Tax

Aside from individual filers, TaxAct considers free file considers several professional tax return preparers as customers. It helps tax professionals become more efficient by simplifying their workflows to complete more client returns in no time. This process helps Tax professionals save time and decrease errors with TaxAct’s import options. Also, tax professionals save money by paying the features they need through the flexible price options available from TaxAct.

TaxAct’s library of tax preparation products offers a streamlined and detailed step-by-step process to help tax filers complete their taxes quickly without paying an exorbitant price. In addition, TaxAct software understands the complexities involved in taxes. The platform provides a personalized experience and products to grow with tax filers as their tax situation changes.

Whether you are a new filer or well-experienced and don’t need much expert support, TaxAct software provides adequate tools and resources to prepare and file simple and complicated returns. In addition, the app offers $100,000 accuracy and maximum refund guarantees.

How to use TaxAct?

To start using TaxAct, you can download the TaxAct app or use the web-based platform. The TaxAct login will ask you to provide your unique username, password, email, and phone number for security and password recovery. Once you do this, you can begin filing your tax return right away.

Meanwhile, you’re not required to pay until you’ve completed the return and are ready to file. TaxAct software uses a question-and-answer format to put you through the process of return preparation. The questions usually cover tax law changes and are aimed at maximizing your credit and deductions.

Whether you are doing your tax filing online or through the TaxAct app, there is technical support throughout the entire process. TaxAct helps to reduce your risk of being audited by reviewing your file for omissions, incorrect information, and errors. In addition, the TaxAct refund status shows you real-time refund progress so you can track your work. To use TaxAct, go through the following step-by-step guidelines:

Tax Filling

Before starting your tax filing, you need to gather and organize all your tax documents, including a copy of the previous year’s return, in one centralized place. This step is essential because it helps to minimize errors that may occur while filling the forms.

Do a comparison of DIY tax solutions as some require you to upgrade if your return needs additional tax forms. You can avoid this issue with TaxAct Free Federal. It features all e-fileable forms for any level of returns. E-file your return and select the direct deposit for the fastest refund. E-filling is easy because it tells you when the IRS processes your return. That’s something paper returns can’t give you.

Personal Accountant

TaxAct filling program is designed to act like your personal accountant. The interview takes you through the tax law changes, credits, and deductions. You will be asked if you run a business, have children, own a home, have student loans, etc. These questions make it easy TaxAct to recommend the most suitable package for your tax situation. The interface and features of each package are different. TaxAct provides those with self-employment income and simple tax returns with different experiences. The TaxAct calculate you calculate your credits and deductions based on your tax situation.

For instance, when it comes to the Child and Dependent Care Credit, the highest amount for the credit is $3,000 if you have a child or $6,000 if you have two or more children. Meanwhile, the children or dependents should be younger than 13 years. In addition, childcare is a must because parents work or attend school. Similarly, the American Opportunity Credit is another key tax break available on returns. The program is worth close to $2,500 per student for the first four years of college costs for any study program. The costs may include fees, tuition, and study materials. Also, you may be eligible to get up $1,000 refund.

Is TaxAct accurate?

As TaxAct guides you through the tax filing process, it ensures you don’t make any mistakes. It pays attention to areas where people tend to commit errors, such as inconsistent answers and double answering. TaxAct catches these errors on time and notifies you immediately. For instance, the red alerts indicate incomplete or inconsistent information, the yellow alert is for inadequacies, and the green alert is for potential tax savings. After correcting the errors, you will sign and date your return. You can then view a personalized financial savings report showing you future savings opportunities. You may also compare your federal returns year after year.

TaxAct Features

 TaxAct Calculator

The TaxAct calculator gives you comprehensive and customized tax planning information and report. This tool works for individual filers and business owners. The calculator can help you simplify your deductions, complex tax laws, changes, strategies, and tips in 1065, 1040, the 1120S, and 1120. It can also help determine the difference in married clients’ tax obligations if they file a joint or separate file separately.

With the TaxAct calculator, you can instantly see valuable federal & state deductions and print a list of your customers the current year, following year, and accumulated depreciable and disposal assets. Besides, if your clients need a custom report, this feature can help you achieve it without hassles.

Support

TaxAct is always happy to offer enhanced customer support via email or phone to answer questions or guide you through any issues. Besides, it has a full archive of videos and recorded webinars, educational materials, resources for users to use when filing their reports. For instance, their educational materials include articles on topics such as software, tax law news, IRS requirements, security of your information, tips to help you become a filer, and hacks for maximizing your efficiency and revenue.

Deduction maximizer

If you ever feel like the whole tax program seems fishy, this tool is for you. Deduction maximizer helps the taxpayer discover some qualifying deductions and credits many filers don’t know about. The tool takes you through the process of completing your return filing to see many additional tax advantages. With more tax advantages, the lower your IRS bill. Self-employed individuals can also see common deductions specific to their industry. For instance, as a blogger, you get a deduction for writing supplies and expenses to research a topic for a book or article.

Refund Transfer

This tool allows filing fees to be deducted directly from your refund amount without opening your wallet. That makes it easy for you to focus on other things.

Personal Tax plan

The personalized tax plan offers users a customized roadmap some hidden opportunities to reduce their tax bills and increase their refund.

TaxAct Pricing

TaxAct offers about four pricing plans, including TaxAct free and other paid plans. Moreover, TaxAct prices vary depending on what you need.

  • Free

The TaxAct free plan is the most straightforward. The plan is best suited for simple tax filers, dependents, unemployment expenses, college expenses, and retirement income. You only pay when you are about to file.

  • Deluxe+

TaxActsays the Deluxe+ is the most popular, and the price goes for $47.95. This plan is recommended for homeowners with deductions, credits, and adjustments. Customers get all the features in the free plan, including mortgage interest, itemized deductions, real estate taxes, and so on.

  • Premier+

The premium+ is a TaxAct business plan, and it goes for $71.95. The plan is suitable for real estate investors or individuals in the business of rental property. It offers prioritized support for users. The plan has the same benefits and features as the Deluxe+ plan, including selling homes, other investments, investment income expenses, rental property income, and stocks.

  • Self-Employed

This TaxAct plan is for self-employed taxpayers, such as freelancers, contractors, and small business owners looking to maximize their deductions. Users get all the features in the other plans and year-round tax resources, business and farm income, extra help with freelance, personalized business deductions, and more.

TaxAct Alternatives

If TaxAct doesn’t meet your expectation or your business needs, there are other alternatives on the internet. You can compare TaxAct with these alternatives and make informed decisions for your business or organization. They include:

  • TurboTax
  • H & R Block
  • CSS IMPACT
  • Vertex
  • FreeTaxUSA
  • TaxHawk
  • TaxSlayer

TaxAct vs. TurboTax

TaxAct and Turbo Tax are both tax software that helps users with preparation and filing their taxes. While Turbo Tax can help you find all your deductions, even if it’s complex, TaxAct is the best choice if you have enough experience to file your tax yourself without any fuss or hassle. The two apps have the following features:

  • Interview questions and prompts to help you file your tax
  • A calculation of your tax due displayed at the top of your page
  • A free option for basic returns
  • Professional assistance for an extra fee
  • Options for uploading tax documents and prior year returns, plus
  • Importation of data from other tax software

In summary, TurboTax is good if you qualify for free filing, are looking to maximize your deductions, have plans to itemize, and need one-to-one help from tax experts. Also, Turbo Tax is good for importing data from Square, Lyft, Uber, or QuickBooks. On the other hand, TaxAct will be your best bet if you value an intuitive interface and have confidence in filing your tax yourself. Also, TaxAct is quite affordable, and you can always rely on their customer support.

TaxAct Review Conclusions

If you seek an easy and affordable tax filling option, TaxAct is the right option for you. The budget-friendly tax software offers both mobile app and web-based platforms for users to use. Aside from the Live Chat, the TaxAct free tax platform offers step-by-step guidelines, educational tools and resources, videos and webinars, tips, and tricks to file your tax under minutes.

Like other tax software, TaxAct software uses a question format to guide users through the tax filing process. However, TaxAct’s simplicity is what makes many users adopt it for their business. Most of the users of TaxAct include freelancers, business owners, and professional tax filers.

TaxAct free plan allows users, including individuals with dependents, college, and retirement income, to file their taxes, while the premium plans offer more extensive plans. People who want polished software with as many features without regard to price won’t find TaxAct the best solution. However, users who appreciate a simple interface and streamlined tax filling will benefit from TaxAct.