Best Free Tax Software for 2020

Find out more about the best free tax software solutions for small businesses. Includes frequently asked questions.

Updated on March 31st, 2020

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Free tax software can be used by businesses to prepare and file their corporate income taxes. The benefit of using free software is that business owners can file their return themselves without having to pay for an expensive program or a tax professional.

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Why We Chose FreeTaxUSA:

FreeTaxUSA offers both a free and a paid plan. The free plan offers a range of features, including federal tax returns, e-filing, customer support, printable tax returns, and tax extensions.

FreeTaxUSA supports all common tax forms and most of the less-used forms. It also includes credits or deductions for charitable donations, HSA contributions, and student loan interest for free.

The paid plan is affordable compared to FreeTaxUSA's competitors at just $6.99 per month and includes priority support, audit assistance, and amended return filings.

FreeTaxUSA can also be used by contractors and freelancers to file self-employed tax returns. The software has received many positive customer reviews.

Things to Consider When Evaluating Free Tax Software:

  1. Test out different software options to find the one that is easiest for you to use. Note that some software options include a "Help" button to explain what is being asked of you.
  2. Taxes can be complicated, so review the customer support of the different options for response time and helpfulness.
  3. Most free tax software options only offer free e-filing for the most common forms. Consider any options that offer extra features and forms at no additional cost.

Best Free Tax Software:

Rank

Name

Offer

Review

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1.

FreeTaxUSA

Free - $6.99 /mo.

Guarantees accuracy and offers direct deposit refunds but there is no support for complex tax situations.

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2.

Credit Karma Tax

Free.

Features mobile and desktop access with free audit defence but it does not support all tax forms.

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3.

H&R Block

$29.95 /mo.

User friendly with online tax filing and great customer support but it is expensive compared to competitors.

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4.

TaxACT

Free - $14.95 /year.

Features online filing and refund bonuses but there is no built-in audit support.

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5.

Turbo Tax

Free - $59.99 /mo.

Easy to use and supports imports from Quickbooks but the paid plans are expensive.

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6.

eSmart Tax

Free - $34.95 /mo.

Easy to use with online tax filing but the customer support is poor and there is limited guidance.

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7.

TaxSlayer

Free - $17.00 /mo.

User-friendly and saves your previous returns but there is no calculator or expense tracker.

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FAQs:

Best Free Tax Filing Software

What is the best free tax software?

Can you find small business tax software for free?

Yes, you can. FreeTaxUSA and Credit Karma Tax are the best options if you're looking for free small business tax software.

Should I use free tax preparation software if I am self-employed?

Most free business tax software providers charge an additional fee for self-employed tax returns, so read the pricing information closely before you proceed.