What would you do with $2,763? That’s the average refund American taxpayers received last year, and many are already planning how to spend their next windfall. A recent survey by TaxSlayer, a tax preparation and financial technology company, found that saving (43 percent) and paying off debts (42 percent) topped the list of possible tax return uses among the nearly 2,400 taxpayers surveyed. However, not all were planning to be so frugal: 13 percent intended to treat themselves to a gift, while another 13 percent expected to treat themselves to an experience (such as an expensive dinner or a vacation).
If they file their taxes online with TaxSlayer, they won’t have to wait long to do so. TaxSlayer can help taxpayers access at least a portion of their refund in as little as 48 hours after filing. RewardExpert spoke with TaxSlayer’s Director of Consumer Product, Seth Babb, about the organization’s history, tax filing services, and new refundNOW refund advance product.
More than 50 Years of Tax Preparation Experience
Founded in 1965, TaxSlayer got its start as a tax preparation office in Augusta, Georgia. The family-owned company expanded into professional tax software in the 80s and launched do-it-yourself tax software for taxpayers in the early 2000s. In addition to their products within the tax space, TaxSlayer added Workful, an HR and payroll software product, and LegalSpark, an online legal advice service, in 2017.
“We’ve seen a ton of growth over the last several years,” Babb said. “We’ve seen a 200 percent increase in tax returns filed through TaxSlayer over the last three years. It truly covers a wide range of tax returns and situations. That’s one of the things that we’re really proud of.”
The company also prides itself on customer service. A recent tax satisfaction survey conducted by M is for Marketing rated TaxSlayer number one in overall experience as well as a leader in six key metrics of customer satisfaction.
“We are very proud of our customer satisfaction rating,” Babb continued. “I would put our product up against anybody else in the industry, whether you’re talking about accuracy of the tax return, the user experience, or the products and support options available.”
E-Filing Products for Every Situation
TaxSlayer has e-file products suitable for every tax situation, beginning with the Simply Free version for completion and filing of tax form 1040 EZ. Simply Free includes free email and live phone support as well as a state return.
For tax payers who want to itemize deductions or access additional support features, there’s TaxSlayer Classic. It includes free email and phone support, W-2 and PDF import, a step-by-step deduction guide, and all major forms and schedules necessary for completing and e-filing—all for $17.
TaxSlayer Premium ($35) includes all of the Classic features plus live chat support, audit assistance, and access to a tax pro if you need additional assistance. TaxSlayer recently added a Self-Employed version ($40) as well for freelancers and other self-employed individuals.
“We feel really good about the fact that we empower our customers to choose what they pay us,” Babb said. “We don’t make it your tax situation that dictates that. You get to choose if you want additional services such as audit assistance, chat, priority support, or access to a tax professional.”
“We believe that we create an unrivaled value in the industry when preparing tax returns,” he continued. “Someone with investments, rental properties, W2s, a mortgage, and dependents, can file a return for $17 right now on TaxSlayer. If you were to shop around, that same return with some of our competitors will cost five or even close to ten times that amount.”
Use refundNOW and Get Your Refund Fast
“Refund advances have been around in the tax industry for a very long time,” Babb explained, “but they were never available online. Up until this year, when we launched refundNOW, someone looking to get an advance on their tax refund would have to go to a brick-and-mortar tax preparer.”
Thanks to refundNOW, the industry’s first fully online refund advance, taxpayers can receive up to $1,000 of their refund in as little as 48 hours after their return is accepted by the IRS.
“Some folks are actually getting their refund advance in as little as 24 hours,” Babb said. “They can choose to receive the money as a direct deposit into their bank account or have it loaded onto an American Express Serve pre-paid card.”
To be eligible for a refundNOW refund advance, taxpayers must have a W-2 and current government-issued photo ID. They must also e-file their taxes using TaxSlayer Classic or TaxSlayer Premium. Eligibility may also depend on the tax refund amount, verification of identity, and underwiring standards. The product is not available in Illinois.
“There have been tons of tax law changes that directly affect the timelines of when people can file their returns as well as when they’ll receive their refund,” Babb said. “We wanted to create a product that would address that and give taxpayers the ability to get some of that money upfront because we know they count on it.”
To learn more about TaxSlayer or the products and services they offer, visit www.taxslayer.com.