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Best tax software 2020: TurboTax, H&R Block, TaxAct, and TaxSlayer compared

Best tax software 2020: TurboTax, H&R Block, TaxAct, and TaxSlayer compared

The tax man cometh! In just a few short weeks it will be time to meet your maker… er… your tax collector and deliver the debt that’s due. If you’re an incorporated business owner, your taxes are due March 15. Otherwise sole proprietors and all the rest of us non-business owners need to file taxes by April 15.

Filing your taxes doesn’t need to be a fraught experience and each of the apps reviewed here promises to make the process of filing your taxes simple and pain-free.

Which software app should you use?

When it comes to the basics of filing your personal taxes, there is very little that differentiates these apps from each other, so, to some extent, you should go with whichever of the companies you’re comfortable with or that you’ve used in the past. The truth is, if you have the proper paperwork, filing your taxes is nothing more than correctly entering data from forms you’ve been given by your employer and your banking institutions. But, if you’re unsure about which app you should choose, or you have specific needs, use the following information and our reviews as your guide:

If you’re filing personal taxes and you made $69,000 or less last year

Have a look at our guide to the IRS’ free file options. TurboTax, H&R Block, TaxAct, and

lookup tool IRS

An IRS Lookup Tool helps you find the free-filing option for your specific circumstances.

TaxSlayer, as well as some other companies, have offerings for anyone meeting the IRS standard for free filing.

If you’re an active member of the military

TaxSlayer is, hands down, your best choice. It offers free filing, no matter your filing status, for anyone who is an active member of the military.

If you own a business that’s incorporated

TaxAct is the only choice for you. Of all the tax software available, TaxAct is the only online offering that lets you file your business taxes and then import important information, such as K-1s, directly into your personal 1040 filing.

If you’re self-employed

TurboTax is the choice for you, largely because anyone using TurboTax Self-Employed also gets a one-year subscription to QuickBooks Self-Employed at no additional cost. Conversely, if you’re already paying for QuickBooks Self-Employed you can easily import your financial data into TurboTax Online and file your taxes for free.

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