Today, everyone wants ready data that makes their task easier and less time consuming. Work in different organizations is done using different capable software. Even CPAs are working with tax-related software instead of manually.
Most CPAs prefer to use different software for their work. It saves them time and manual efforts are greatly reduced. You can accurately calculate income tax, advance tax, TDS, wealth tax, etc. The chances of human error are minimized and accurate results are guaranteed. Customer records are saved in the software. You don’t need to add the details every time and you can access the records at any time for any requirement.
A CA or tax professional company requires good GST software, income tax software, tds software, and also good practice management software. Check out TaxAdda’s office management software known as TaxAdda PMS and see how it can help you manage your practice and your staff efficiently.
Below is a hand-picked list of the best income tax programs in India, with their popular features and website links. This list of income tax software contains both open source (free) and commercial (paid) software.
Best Tax Software Programs for 2022
- Best Overall: TurboTax
- Runner-Up, Best Overall: H&R Block
- Best Value: TaxSlayer
- Best Free Tax Software: Credit Karma
- Best Support: Jackson Hewitt
- Best Accuracy Guarantee: TaxAct
- Best E Filing : EZ Tax
- PRICE:$90 + $50 per state (Premier Plan)
- SUPPORT:Phone, chat, video, full tax preparation
- ACCURACY GUARANTEE: Money-back
Why we choose it
We chose TurboTax as the best overall because it is easy to use, offers different price points for different needs, and offers the ability to upgrade for live support.
Pros & Cons
- Easy to use tax wizard
- Evolution of tax assistance
- DIY plans and live support
- Limited tax support unless you pay
- High administration fees
- The most expensive package overall
TurboTax makes it easy for novice and inexperienced taxpayers to get started. Users are first asked to choose their situation, for example, “I want to maximize deductions and credits,” “I have a job (I received the W-2),” and so on. This helps TurboTax determine which pricing plan is right for the user. The software then uses plain language questions to guide users through each part of the tax filing process and includes quick explanations of confusing terms or processes.
TurboTax also offers many other conveniences, including importing a PDF file from a previous return to start a new return, importing W-2 and 1099 forms upon selection, and the ability to file taxes using the TurboTax mobile app. . Users also have the option to have their return reviewed by a CPA or agent before filing the return, as well as unlimited live tax advice for an additional fee.
TurboTax offers a variety of pricing plans. Users can choose from one of four TurboTax DIY plans or four TurboTax Live plans. Prices for all plans are only due at the time of presentation.
|FREE PLAN||DELUXE PLAN||PREMIER PLAN||SELF-EMPLOYED PLAN|
|FREE||$60 + $50 per state filed||$90 + $50 per state filed||$120 + $50 per state filed|
|Free filing of simple federal and state tax returns||All Free Plan features||All Deluxe Plan features||All Premier Plan features|
|Covers W-2 income, Earned Income Tax Credit (EIC), and child tax credits||Searches 350+ tax deductions and credits||Covers stocks, bonds, ESPPs, and other investments||Help for contractors, freelancers, and small business owners|
|Import PDF return from other tax software||Maximizes mortgage and property tax deductions||Auto import investment income||Industry-specific deductions|
|Audit Support Guarantee||Homeowner tax breaks (Schedule A)||Rental property income and tax deductions||One-on-one help from self-employment specialists|
|24/7 access to an online community||One-on-one on-demand help||Expense, mileage, and job tracking|
|Import 1099-MISC from a photo|
|TURBOTAX LIVE PLANS|
|BASIC PLAN||DELUXE PLAN||PREMIER PLAN||SELF-EMPLOYED PLAN|
|$80 + $45 per state filed||$120 + $55 per state filed||$170 + $55 per state filed||$200 + $55 per state filed|
|Prep, print, and e-file with help from a tax expert||All Basic Plan features||All Deluxe Plan features||All Premier Plan features|
|Import W-2 from a photo||Talk with a tax expert about 350+ deductions and credits||Covers stocks, bonds, ESPPs, and other investments||Tax advice for self-employment income and expenses|
|Final review and/or filing from a CPA or EA||Review mortgage tax deductions with a CPA or EA||Auto import investment income||Industry-specific deductions|
|Donation deduction support||Covers rental property income and tax deductions||Personalized audit assessment|
|Account for gains and losses from cryptocurrency transactions||Expense, mileage, and job tracking|
2. H&R Block
- PRICE: $69.99 + $44.99 per state (Premium Online Plan)
- SUPPORT: Phone, chat, video, in-person, full tax preparation
- ACCURACY GUARANTEE:$10,000
Why we choose it
We chose H&R Block because it offers competitive prices and the features most commonly needed to make tax preparation easier, but it’s not as user-friendly as TurboTax.
Pros & Cons
- Walk-in assistance at 11,000 locations
- Scalable tax assistance options
- DIY plans and live assistance
- Limited tax support unless you pay
- More expensive than some competitors
H&R Block offers just about everything TurboTax does for a little less. Users benefit from a similar interface that guides them through the tax return preparation process, contextual explanations, and the option to have an accountant review a return for an additional fee. However, unlike TurboTax, users can also go to a physical H&R Block office to speak to an expert in person.
Like TurboTax, H&R Block allows users to get started quickly by importing taxes from a previous year and uploading a photo of their W-2 form. It also offers a free plan for simple tax returns like TurboTax, but with the added benefit of being able to file Schedule 1-3 forms that allow users to report business income, child support, payments. deductible student loan interest, etc.
Like TurboTax, H&R Block divides its offering between the DIY File Online and Online Assist plans. All plans include on-demand chat, screen sharing, and an online help center.
|H&R BLOCK FILE ONLINE PLANS|
|FREE ONLINE PLAN||DELUXE ONLINE PLAN||PREMIER ONLINE PLAN||SELF-EMPLOYED ONLINE PLAN|
|FREE||$49.99 + $44.99 per state filed||$69.99 + $44.99 per state filed||$109.99 + $44.99 per state filed|
|Snap-a-pic W-2 import||All Free Online Plan features||All Deluxe Online Plan features||All Premium Online Plan features|
|Self-help via a help center||Six years’ access to tax returns||Import expenses from popular expense tracking apps||Expense import from popular expense tracking apps|
|Technical support (by chat)||DeductionPro® to optimize donations||Cost basis calculation||Import Uber driver tax information|
|Earned Income Tax Credit||Technical support (by chat or phone)||Freelance/Contractor income with expenses less than $5,000||Small business expenses (home office, depreciation, vehicle, etc.)|
|Child care expenses||Health Savings Account (HSA)||Stock sales income|
|Student loan interest||Real estate taxes||Rental property income|
|Retirement plan income||Mortgage interest|
|Social Security income|
|Child tax credit|
|H&R BLOCK ONLINE ASSIST PLANS|
|BASIC ONLINE ASSIST PLAN||DELUXE ONLINE ASSIST PLAN||PREMIER ONLINE ASSIST PLAN||SELF-EMPLOYED ONLINE ASSIST PLAN|
|$69.99 + $39.99 per state filed||$109.99 + $49.99 per state filed||$159.99 + $49.99 per state filed||$194.99 + $49.99 per state filed|
|Unlimited expert help||All Basic Online Assist Plan features||All Deluxe Online Assist Plan features||All Premium Online Assist Plan features|
|Snap-a-pic W-2 import||Unlimited expert help||Cost basis calculation||Expense import from popular expense tracking apps|
|Technical support (by chat)||Six years’ access to tax returns||Freelance/Contractor income with expenses less than $5,000||Import Uber driver tax information|
|Earned Income Tax Credit||DeductionPro® to optimize donations||Stock sales income||Small business expenses (home office, depreciation, vehicle, etc.)|
|Child care expenses||Transparent pricing with Price Preview||Rental property income|
|Student loan interest||Guidance for homeowners|
|Retirement plan income||Technical support (by chat or phone)|
|Social Security income||Health Savings Account (HSA)|
|Child tax credit||Real estate taxes|
- PRICE:$44.95 + $39.95 per state (Premium Plan)
- SUPPORT:Phone, email, chat
- ACCURACY GUARANTEE: Money-back (plus penalties and interest)
Why we choose it
We chose TaxSlayer as the best tax software due to its affordable price with 100% accuracy guarantee.
Pros & Cons
- Price payable
- Low administrative fees
- 100% accuracy guarantee
- Less intuitive interface than the competition
- Few additional fiscal support options
TaxSlayer offers a simple interface like most of the providers we review. Users simply start by entering their tax status (or importing last year’s tax return), entering their income, or importing a W-2, and the software goes to work finding the best deductions. The on-screen explanations are not as comprehensive as those of TaxSlayer’s competitors, but users can access technical support by phone and email.
Unlike other providers, TaxSlayer offers limited options for accessing accountants or professionals who can view a tax return. However, the company offers a 100% accuracy guarantee and reimburses its clients for federal or state penalties and interest. TaxSlayer also states that if its clients do not receive the maximum refund to which they are entitled, they will refund the applicable fees.
|TaxSlayer Packages & Prices|
|Package||Designed For||Federal Filing||State Filing|
|Simply Free||People who file simple returns||$0||$0|
|Classic||Filers who want easy import of W-2s or need the rest of the tax forms||$24.95||$39.95 per state return|
|Premium||Filers who want priority support, live chat, or IRS Audit Assistance for three years||$44.95||$39.95 per state return|
|Self-Employed||Self-employed individuals who want access to a tax professional for help with 1099s and Schedule C||$54.95||$39.95 per state return|
4. Credit Karma
- PRICE: Free
- SUPPORT: Email
- ACCURACY GUARANTEE: $1,000
Why we choose it
We chose the Credit Karma tax because it is completely free for any tax situation supported.
Pros & Cons
- Free filing of all tax returns
- Imports of other tax software
- Free audit defense support
- Not compatible with all shapes
- No multi-state presentation
- No phone support
Like its competitors, Credit Karma allows users to import previous feedback from other software and a photo of a W-2, then walk them through the process with a series of questions and answers. ‘prompts.
Credit Karma claims to offer more deposit options than the free versions of its competitors, including deposit deductions for mortgage interest, property taxes, and student loan interest. However, the software does not support all types of forms. People filing in multiple states or receiving funds from a trust or estate should look elsewhere.
As a free service, Credit Karma does not offer telephone support. However, this includes audit defense for your clients, which includes consulting an IRS audit representative who will also attend a hearing on your behalf. Users also get accurate calculations and maximum money back guarantees with refunds of up to $ 1,000 in IRS or state tax penalties and up to $ 100 if another provider posts a larger refund.
5. Jackson Hewitt
- PRICE: $49
- SUPPORT: Live chat, in-person, full tax preparation
- ACCURACY GUARANTEE:$100
Why we choose it
We love Jackson Hewitt because he has an extensive network of outlets to help with online and offline tax preparation.
Pros & Cons
- Live online support
- Tax professionals can finish for you
- 100% accuracy guarantee
- Limited tax support unless you pay
- Import only Jackson Hewitt returns
On the surface, Jackson Hewitt doesn’t seem to offer anything different from the other software we’ve reviewed. It allows users to import Form W-2 and tax returns filed with Jackson Hewitt (but not its competitors), then guides them through the filing process through a series of explanatory context questions.
However, where Jackson Hewitt excels is in its Tax Pro From Home service. Users simply upload their tax documents online and one of the company’s tax specialists takes over. All questions and issues are resolved online or over the phone, giving clients the experience of working one-on-one with a professional without having to walk into a real office.
Those who want to stick with the Jackson Hewitt DIY online presentation can still get help through a comprehensive online help center, connect with a real person during office hours through live chat, and benefit the company’s 100% accuracy guarantee.
Jackson Hewitt eliminated several plans for online taxpayers. A $ 49 tax covers all situations and includes federal and state deposits. However, those who only file federal taxes can do so for just $ 25.
- PRICE: $71.95 + $54.95 per state (Premier+ Plan)
- SUPPORT:Phone, Email
- ACCURACY GUARANTEE: $100,000
Why we choose it
We chose TaxAct because it includes a 100% accuracy guarantee that will cover up to $ 100,000 in taxes, legal fees and penalties.
Pros & Cons
- Import from the most popular tax software
- Premium guarantee refund
- Downloadable or online software
- Limited support for the free plan
- No audit support
TaxAct doesn’t offer anything new in terms of functionality than most other tax programs. Users can import W-2 forms as well as previous returns from other software, then use an online help wizard to answer questions and file their return. TaxAct also offers a downloadable version of its software for Mac and PC for those who do not wish to prepare their taxes online.
Despite its simplicity, TaxAct offers free and unlimited support by phone, email and online chat. Each plan also comes with a maximum refund and a 100% accuracy guarantee. Unlike other software that offers limited refund options, TaxAct will reimburse the cost of the software and pay the difference between the lowest refund or highest tax liability, plus legal fees or penalties, up to $ 100,000 included.
TaxAct offers a free plan for simple filing and support, as well as three paid plans that can handle increasingly complex tax returns and offer additional support options.
|TAX ACT PLANS|
|FREE PLAN||DELUXE PLAN||PREMIER+ PLAN||SELF EMPLOYED+ PLAN|
|FREE||$47.95 + $54.95 per state filed||$71.95 + $54.95 per state filed||$94.95 + $54.95 per state filed|
|W-2 income||All Free Plan features||All Deluxe+ Plan features||All Premier+ Plan features|
|Dependents||Itemized deductions||Stocks, gains and losses, sales of home or other investments||Freelance income|
|Earned income credit||Child & dependent care||Royalty and Schedule K-1 income||Business & farm income|
|Child tax credits||Mortgage interest||Investment income expenses||Personalized business deductions|
|Current students||Real estate taxes||Rental property income||Calculate depreciation|
|Retirement income||Student loan interest||Foreign bank and financial accounts||Year-round planning resources|
|Prior year import||Health savings account (HSA)||Prioritized support, including screen sharing|
|Unlimited account support||Adoption credits|
|Tax specialist phone support|
7. EZ Tax
In this software, the entire return filing process, from login to electronic filing, can be completed in a matter of minutes. It’s the modern tax engine that works surprisingly well for CA businesses. You can say that this is the easiest and most comprehensive tax filing portal that will help you plan, report and save taxes. It is a very satisfying and fast growing tax portal for the following reasons:
- It is very safe, complete and accurate. The results will give you peace of mind.
- It will save you time and money. No need to visit tax advisers over and over again
- It gives accurate results for all income levels.
- It is easy to file the late or revised return through this portal with the original return.
- This will give you a true self-service deposit experience. This software is used by the largest CA companies
- Provides an audit verifier to help avoid computer prompts.
- You can upload a photo of your Form-16.
- Automatically reads Form-16 in images or in PDF format.
- Eztax optimizes salary, capital gains, assets, etc. to save your income tax.
- Provide a complete salary questionnaire.
- This tax filing software tool has a secure document manager.
- It has a tax optimizer to increase the potential return on investment.
- Helps you get maximum GST credit
Price – Rs. 30 per file
How to choose an online tax software provider
There is a lot to consider when comparing and comparing tax software providers online. Ease of use, costs and fees, including free options, and customer service are the three general areas to consider when choosing the best platform for you.
Easy to use
We know that filing your tax return can be difficult. However, some tax software providers can help ease the process. Before selecting a tax software provider, ask yourself the following questions:
- Does the product have easy navigation menus to identify where to enter tax return forms?
- Is there a question and answer interview that asks the right questions to guide you to the tax forms needed to complete your tax return?
- Are there several support options, including phone, email, live chat, and expert tax assistance to help you through the process?
- Is it possible to do a test drive before paying for the product?
Costs and fees
It is essential to select a product that not only meets your needs, but does not exceed your budget. It is a good idea to look at the price of each product and consider the following:
- What tax forms does the product include?
- What accessories does the product include? For example, ask yourself if the product consists of a companion, a tax deduction finder, or a tax expert if necessary.
- Are there additional fees for filing state taxes? If so, how much? Does the product include a flat rate for multiple states?
Free presentation options
If you have a simple tax return, which includes a W2 and some tax deductions, you may be able to file your taxes for free. Many online tax software providers offer a free version of the posted tax return for simple returns on their website. While this online tax software offers these advertised versions, you can also take advantage of the tax options of the IRS Free File Program (explained later in our FAQ section).
Here are the questions to consider before choosing your product.
- What forms does the online tax software provider allow you to fill out?
- Is there an additional cost for filing the state income tax return?
- Are there any income restrictions for those who may be eligible?
- Are there support options?
Customer support options
If you need additional help completing your tax return, be sure to check out the assistance options. Here is a list of questions to consider before choosing your product:
- Is there a way to contact support by phone? If so, what are the opening hours?
- Does the product offer live chat or email service when preparing the tax return?
- Is there a surcharge for additional assistance? If so, how much?
- Does the product offer a tax expert option to help with filing taxes?
Compare the Best Tax Software Programs
|SOFTWARE||KEY FEATURES||SUPPORT||FREE VERSION||PRICE|
|TurboTax Best Overall||Easy-to-use tax wizard with DIY and live assist plans||Phone, Live Chat, Video, Full Tax Preparation||Simple Returns||Up to $200 + $55 per state|
|H&R Block Runner-Up, Best Overall||DIY and live assist plans with walk-in help at 12,000 locations||Phone, Live Chat, Video, In-Person, Full Tax Preparation||Simple Returns||Up to $194.99 + $49.99 per state|
|TaxSlayer Best Value||Affordably-priced with low state filing fees||Phone, Email||Simple Returns||Up to $54.95 + $39.95 per state|
|Credit Karma Best Free Tax Software||Free tax filing for simple and most complex situations||All Returns||Free|
|Jackson Hewitt Best Support||Tax returns can be handed over to a professional for completion||Live Chat, In-Person, Full Tax Preparation||None||$25 federal only $49 including all states|
|TaxAct Best Accuracy Guarantee||Accuracy guarantee reimbursement up to $100,000||Phone, Email||Simple Returns||Up to $109.95 + $54.95 per state|
We looked at a dozen tax software for this review. At the top of our list was software that was easy to use, as most of the people who use these programs have little to no tax experience. Support was also an important consideration, which is why providers that offered more than online guides (such as live chat or individual phone support) stood out.
Price was also an important issue. Because users inevitably absorb some risks when preparing their own returns, the software should cost considerably less than hiring a professional to be worth the risk.
Finally, it was important to us to find software that offered generous accuracy and maximum benefit guarantees. While nothing can replace the personal expertise of a seasoned accountant or tax professional, tax software companies that are willing to back their products with real money are the best option.
What Are Tax Software Programs?
Tax software programs automate nearly every aspect of preparing and filing tax returns. Most offer a simple interface that walks users step-by-step through filling out forms, determining deductions, recording income, and more, and then electronically files it for a fee. “If you aren’t as experienced with tax software, you may need to look for software that also offers a support service so that, if you do hit a wall, they can be there to assist,” says Matthew Dailly, Managing Director at Tiger Financial. Most software offers some level of live support to ensure that a return is completed and filed properly, and providers back it up with accuracy and maximum refund guarantees, reimbursing customers for any loss up to a certain amount.
Why Do People Need Tax Software Programs?
For those who don’t want to pay a professional to prepare their tax returns, tax software has two distinct benefits over trying to wing it alone. The first is to ensure that every required expense and form are recorded and filed properly. We’ve never run into stories of anyone who actually enjoyed being audited by the IRS. The second thing tax software can do is maximize tax returns. Because tax laws are changing all the time, it’s impossible for individuals and businesses to keep track of every available new deduction. Since tax software gets updated constantly, users are guaranteed to find the latest opportunities to get more money back on their returns.
How Much Does Tax Software Cost?
Most major tax software programs allow users to file very simple tax returns for free. From there, they offer tiered plans that can handle more complex types of filings and often include additional levels of support (live chat, one-on-one consults, etc.).
The paid plans we reviewed ranged from as low as $44.95 plus $34.95 per state filed to as high as $200 plus $55 per state filed. Every provider we reviewed allowed users to start and work on their returns for as long as they want for free and only charged them when it was time to file a return.
When are taxes due?
Taxes are traditionally due on April 15, but the IRS extended the deadline to May 17, 2021. While this isn’t as long as last year’s extension of July 15, 2020, it still gives you a bit more time to file.
What happens if I miss the tax deadline?
If you miss the May 17 deadline, you still need to file your taxes and should do so as soon as possible. You’ll incur a penalty if you file late and owe taxes, which only gets pricier the longer you wait. You won’t incur a penalty if you don’t owe and instead have a tax refund coming.