• Coupons
  • Health & Body Care
  • Travel
  • Home & Family
  • Gift Guides
  • Home & Garden
  • Pets
  • Contact Us
  • IMPRESSUM
© 2017-2022 Media122 (Top5.com and TopFive.com) - All Rights Reserved.

Other marks contained on this website are the property of their respective owners. Top5 is an independent comparison and review website may contain references to products from one or more of Top5 advertisers. Top5 is a free to use website is supported through compensation when you click on links to products. Please read our Privacy Policy and Terms of Use.


DISCLAIMER

This website is not intended to provide medical advice or to take the place of medical advice and treatment from your personal physician. Visitors are advised to consult their own doctors or other qualified health professional regarding the treatment of medical conditions. The author shall not be held liable or responsible for any misunderstanding or misuse of the information contained on this site or for any loss, damage, or injury caused, or alleged to be caused, directly or indirectly by any treatment, action, or application of any food or food source discussed in this website. The U.S. Food and Drug Administration have not evaluated the statements on this website. The information is not intended to diagnose, treat, cure, or prevent any disease.

Top5 - Consumer Product Recommendations from Experts
  • Coupons
  • Just For Fun
  • Health & Body Care
  • Home & Family
  • Pets
  • Product Reviews
  • Travel
  • Wellness

Best Tax Software Options

Top5 » Tax Software
Last updated May 26, 2023

Kick off the new year with tax preparations. Many Americans feel overwhelmed with this task, understanding the stakes of precision. Incorrect details could mean lost funds or increased taxes. But, fear not, top-notch tax software can simplify the process.

Tax software boosts user-friendliness with up-to-date data. It helps you capitalize on every possible tax deduction and credit, reducing your tax bill. Eligible for the earned income tax credit or a renewable energy investment tax credit? The software will inform you.

Related Article: Top 5 Frequent Tax Filing Mistakes

Discover the best tax software options on Top5 and learn vital details before you begin your tax journey.

Advertising Disclosure
Top5.com has an advertising relationship with some of the offers included on this page. However, the rankings and listings of our reviews, tools and all other content are based on objective analysis. Top5.com does not always include all service companies or products available in the marketplace. Top5.com strives to keep its information accurate and up to date. The information in our reviews could be different from what you find when visiting a service provider or a specific product's website.
Editors' Choice
tax act logo
Our Rating5/5 Rating

TaxAct

TaxAct streamlines tax filing with its robust features and user-friendly design, proving itself an asset for diverse tax scenarios.

Key Benefits:

  • Versatile Packages: Caters to both personal and business tax needs.
  • Affordable: Provides premium tax services at competitive prices.
  • User-Friendly: Boasts an intuitive interface for effortless navigation.
  • Comprehensive: Offers rich resources and tools for a complete tax solution.
Read More
Read Reviews
More Details:
TaxAct
File today!
Editors' Choice
taxslayer logo
Our Rating5/5 Rating

TaxSlayer

TaxSlayer simplifies tax filing with its adaptable packages and user-friendly platform, offering an efficient tax solution for various needs.

  • Key Benefits:
  • Versatile Packages: Designed to serve diverse tax situations, perfect for freelancers to the self-employed.
  • Cost-Effective: Competitive pricing makes it a go-to for budget-conscious taxpayers.
  • User-Friendly: Simplifies tax filing with its easy-to-navigate interface.
  • Comprehensive: Provides robust tools for efficient and accurate tax preparation.
Read More
Read Reviews
More Details:
TaxSlayer
File Fearlessly
Editors' Choice
e-file logo
Our Rating4.5/5 Rating

E-File

e-File is the newest entrant into the tax software preparation space. The cost is half the price of many comparable programs, but it has limited explanations and help if you have questions. Features include:

  • Editor’s Choice:  Best Value
  • Free tax filing if you meet certain criteria
  • Inexpensive resource for simple returns or experienced filers looking for a bargain
  • Simpler design and functionality
Read More
Read Reviews
More Details:
E-File
Start for FREE*
Editors' Choice
H&R Block Logo
Our Rating4.5/5 Rating

H&R Block

H&R Block, a seasoned tax software provider, offers versatile packages and extensive support, simplifying tax filing for various scenarios.

Key Benefits:

  • Diverse Packages: Accommodates both simple and complex tax needs.
  • User-Friendly: Features an intuitive interface that simplifies tax filing.
  • Comprehensive Support: Offers extensive customer support, enhancing user experience.
  • Reputation: Renowned for its robust features and reliable service.
Read More
Read Reviews
More Details:
H&R Block
Easy to file

Best Value: e-File

e-file logo

e-File , a rising star in the tax software arena since its 2014 debut, has captivated over a million taxpayers with its user-friendly and economical features. Its pricing, significantly lower than competitors, has established e-File as a go-to for affordable tax solutions.

This platform shines with its free basic federal e-file offer, charging only $25 for state returns. However, there’s a catch. To qualify, you must earn less than $100,000, be below 65, and either single or filing jointly sans dependents.

  • e-File Pros:

    1. Ideal for Simple Tax Cases: A great choice for users with straightforward tax matters.
    2. Affordable: A top-tier service priced at $49.99, undercutting the most expensive TurboTax version.
    3. Potential Free Access: Fulfills cost-effective needs if you meet the stipulated criteria.

    e-File Cons:

    1. Limited for Complex Tax Scenarios: Simplicity might restrict users with complex tax affairs.
    2. Absence of Phone Support: You can seek help, but don’t expect a direct phone call.
Visit e-File

Best for Ease of Use: TaxSlayer

taxslayer logo

Taxslayer

TaxSlayer, a potent player in the tax software market, has been simplifying tax filing since its inception. With its powerful features and competitive pricing, it’s grown into a favorite choice for savvy taxpayers seeking efficiency and value.

This tool stands out by offering varying packages to cater to diverse tax needs. Whether you’re a freelancer, self-employed, or have investments, TaxSlayer ensures your tax matters are handled professionally and accurately.

TaxSlayer Pros

  • Versatile Packages: Serves diverse tax situations, from freelancers to the self-employed.
  • Cost-Effective: Competitive pricing makes it an attractive choice for budget-conscious taxpayers.
  • User-Friendly: Easy to navigate and use, simplifying the tax filing process.

TaxSlayer Cons

  • Limited Customer Support: While help is available, it’s not as extensive as some competitors.
  • No Free State Filing: State filing comes with an additional cost, unlike some other platforms.
More Details @ TaxSlayer

Best Customer Support: TaxAct

tax act logo

TaxAct

TaxAct, a prominent tax software solution, streamlines the taxing process with its user-friendly interface and competitive pricing. Acclaimed for its robust tools and resources, it offers a seamless experience for individuals and businesses alike.

Whether you’re a novice taxpayer or a seasoned professional, TaxAct ensures an effortless tax preparation and filing process. It offers a range of packages tailored to meet various tax situations, including personal and business taxes.

TaxAct Pros

  • Comprehensive Packages: Offers solutions tailored to different tax situations, catering to both individuals and businesses.
  • Value for Money: With its competitive pricing, it provides an affordable choice for all taxpayers.
  • User-Friendly: Features a simple, intuitive interface that makes tax filing a breeze.

TaxAct Cons

  • Additional Cost for State Filing: Unlike some competitors, state filing isn’t included in the base price.
  • Limited Customer Support: Although assistance is available, it’s not as comprehensive as some other platforms.
More

Best for Complicated Returns: H&R Block

H&R Block Logo

H&R BlockH&R Block, a stalwart in the tax software industry, provides a seamless tax filing experience. Its broad array of features and user-friendly interface have established it as a preferred choice for taxpayers of all types.

H&R Block caters to diverse tax scenarios with its flexible packages. Whether you’re filing simple taxes or managing intricate financial situations, this software ensures accurate and efficient tax filing.

H&R Block Pros

  • Versatile Packages: It accommodates a range of tax needs, suitable for both simple and complex filings.
  • User-Friendly: With an intuitive interface, it simplifies the tax filing process.
  • Comprehensive Support: Its extensive customer support sets it apart from many competitors.

H&R Block Cons

  • Higher Pricing: Although it offers robust features, its pricing is higher than some alternatives.
  • Additional Charge for State Filing: State filing requires an extra fee, unlike some other platforms.
More Details @ H&R Block

What is Tax Software? A Comprehensive Guide

person typing on computer

Tax season can often bring on a wave of stress and confusion. Dealing with intricate tax laws and complex financial details can seem overwhelming. That’s where tax software comes into play, turning an otherwise complicated task into a manageable one. But what exactly is tax software? Let’s explore.

Defining Tax Software

man and woman working together

Tax software is a digital tool designed to assist users in preparing and filing their taxes. It simplifies the tax-filing process by automating calculations, identifying potential deductions, and ensuring compliance with tax laws. From freelancers to large corporations, anyone can use tax software to streamline their tax obligations.

How Does Tax Software Work?

tax books and forms

Tax software operates by guiding users through a series of questions about their financial situation. These inquiries typically cover income, expenses, investments, and potential deductions. The software then automatically calculates your tax liability or refund based on the information provided.

Advanced tax software goes a step further by offering features like error checks, tax law updates, and advice on reducing tax liability. Some platforms even include audit protection, providing guidance in case of a tax audit.

Why Use Tax Software?

Related Article: 8 Tips to Maximize Tax Refund for the Self Employed

Why Use Tax Software?

tax forms

There are numerous benefits to using tax software, and here are a few key ones:

1. Ease of Use: Tax software often comes with a user-friendly interface that makes the tax preparation process simpler and more efficient.

2. Accuracy: With automated calculations and built-in error checks, tax software reduces the risk of mistakes that can lead to penalties.

3. Cost-Effective: Hiring a tax professional can be expensive. In comparison, tax software offers a more affordable way to prepare and file taxes.

4. Time-Saving: With tax software, you can complete your tax filing at your own pace, saving valuable time compared to traditional methods.

Related Article:  The 5 Smartest Ways to Spend Your Tax Refund Money

Choosing the Right Tax Software

There’s an array of tax software options available, each with its unique features and pricing. When choosing the right software, consider your tax situation, budget, and the software’s usability. Popular choices include H&R Block, TurboTax, and TaxAct, among others.

In conclusion, tax software has revolutionized the way we handle tax preparation and filing, making the process easier, more accurate, and time-efficient. By understanding what tax software is and how it works, you’re better equipped to navigate tax season with less stress and more confidence.

Read More
Advertising Disclosure
Top5.com has an advertising relationship with some of the offers included on this page. However, the rankings and listings of our reviews, tools and all other content are based on objective analysis. Top5.com does not always include all service companies or products available in the marketplace. Top5.com strives to keep its information accurate and up to date. The information in our reviews could be different from what you find when visiting a service provider or a specific product's website.
Share on Facebook Share on Twitter Pin on Pinterest Bookmark this Page Share On Email
By Riley Adams
Sr. Pricing Analytics Analyst | Finance Blogger | Licensed CPA
Top 5 Most Common Tax Filing Mistakes
8 Tips to Maximize Tax Refund for the Self Employed
Top 5 Ways to Protect Yourself from Inflation
Tax Credit vs. Tax Deduction: Everything You Need to Know
The 5 Smartest Ways to Spend Your Tax Refund Money

Price Comparison

TaxAct

Read Reviews TaxAct

TaxSlayer

Read Reviews TaxSlayer

E-File

Read Reviews E-File

H&R Block

Read Reviews H&R Block
Top5 - Consumer Product Recommendations from Experts
  • Coupons
  • Health & Body Care
  • Travel
  • Home & Family
  • Gift Guides
  • Home & Garden
  • Pets
  • Contact Us
  • IMPRESSUM
© 2017-2022 Media122 (Top5.com and TopFive.com) - All Rights Reserved.

Other marks contained on this website are the property of their respective owners. Top5 is an independent comparison and review website may contain references to products from one or more of Top5 advertisers. Top5 is a free to use website is supported through compensation when you click on links to products. Please read our Privacy Policy and Terms of Use.


DISCLAIMER

This website is not intended to provide medical advice or to take the place of medical advice and treatment from your personal physician. Visitors are advised to consult their own doctors or other qualified health professional regarding the treatment of medical conditions. The author shall not be held liable or responsible for any misunderstanding or misuse of the information contained on this site or for any loss, damage, or injury caused, or alleged to be caused, directly or indirectly by any treatment, action, or application of any food or food source discussed in this website. The U.S. Food and Drug Administration have not evaluated the statements on this website. The information is not intended to diagnose, treat, cure, or prevent any disease.