This year, OLT.com has improved navigation and interface, and it has kept its prices low. But despite continuous improvements, the software still proves confusing for novices and experts alike.
Thanks to these improvements, we now feel that OLT.com could be worth considering if you're looking for a low-cost tax software that has robust tools and a solid user experience. Here’s what you need to know about filing your return with OLT.com.
See how OLT.com also compares to our top tax filing software options.
Quick Summary
- User interface is much-improved in 2022
- Pricing is one of the lowest for all tax forms included
- Must upgrade to Premium to get live chat and audit support
OLT.com Details | |
|---|---|
Product Name | OLT.com |
Federal Price | Starts at $0 |
State Price | Starts at $9.95 per state |
Preparation Type | Self-Prepared |
Promotions | None |
OLT.com Is It Free?
OLT.com offers free federal tax filing, but filers pay $9.95 for each state return.
What's New In 2022?
Last year, OLT.com revamped the look and feel of its product. This year, the company focused on enhancing usability. The product, which was historically fraught with confusing navigation and arduous tax jargon, has been dramatically simplified.
Calculators, such as depreciation calculators and capital gains calculators, are much easier to use. The simplification of menus and enhancement of calculators makes OLT.com a top option for bargain hunters this year.
New Depreciation Calculator
Does OLT.com Make Tax Filing Easy In 2022?
Thanks to all the enhancements it made, OLT.com makes filing easy for many filers in 2022. The software doesn’t allow users to import their forms to the software, which means that filers have to be careful when copying information from their paper forms. But the software includes multiple checkpoints where users can verify whether they’ve entered the information correctly.
Even self-employed people and landlords can easily find everything they need in the software. The only filers who may need to steer away from OLT.com are active traders. Active traders (especially crypto traders) have to manually enter all their trades, one trade at a time.
OLT.com Notable Features
With the recent software upgrades, OLT.com has several features that help it stand out from other bargain software.
Simple User Experience
The OLT.com software has upgraded its user experience to make tax filing much easier. The company has menu-driven navigation, but the menus are easy to use and intuitive.
Filers can review each sub-section before moving. This helps users detect their errors.
The software also has robust built-in calculators. These help filers claim the correct depreciation and depletion expenses.
Example of a simple menu inside the OLT.com software
Section Summaries
Users can easily track their filing progress and review their financial outcomes by looking at the section summaries. The summaries show the income, deduction, or credit activity associated with each section.
The software also shows more detailed sub-section summaries, so users can catch mistakes as they file.
OLT.com Notable Drawbacks
These are a few ways that OLT.com still isn’t a perfect product. These are some of the drawbacks.
No Options To Import Forms
OLT.com doesn’t allow users to import W-2 or 1099 forms. That means that filers must enter all this information by hand. Some filers won’t mind this extra step, but active traders may need to choose a more robust software.
Some Screens Overly Cluttered
While OLT.com has made notable strides in its user experience, some of the screens remain cluttered. When a screen is overburdened with text, it becomes difficult for users to operate the software effectively.
OLT.com Plans And Pricing
OLT.com has maintained its pricing structure from last year. The free federal tier includes all major forms for filing, but it only includes email-based support. The Premium edition comes with live chat and phone technical support and a guarantee of audit assistance.
Plan | Free Edition | Premium Edition |
|---|---|---|
Best For | All forms (includes email support) | Audit assistance, live chat technical support |
Federal Cost | $0 | $7.95 |
State Cost | $9.95 per state | $7.95 per state |
Total Cost | $9.95 | $15.90 |
How Does OLT.com Compare To Other Tax Software?
OLT.com is a bargain software, so our comparisons focus on other software with similar pricing structures. In 2022, we’re comparing OLT.com to FreeTaxUSA, Cash App Taxes, and TaxSlayer.
This year OLT.com rivals the user experience at FreeTaxUSA and offers slightly lower prices. Cash App Taxes has a somewhat better product, and the price is free, but it only supports single-state filing. TaxSlayer is the most expensive product listed, but it also offers the most functionality.
Header |  |  |  |  |
|---|---|---|---|---|
Rating | ||||
Stimulus Check | Free | Free | Free | Free |
Unemployment Income | Free | Free | Free | Free |
Student Loan Interest | Free | Free | Free | Free |
Import Last Year's Taxes | Only From OLT.com | Free | Free | Free |
Import/Picture of W2 | Not Available | Not Available | Not Available | Not Available |
Multiple States | $9.95 per state | $14.99 per state | Not Supported | First State is Free. $36.95 Per Additional State |
Multiple W2s | Free | Free | Free | Free |
Earned Income Tax Credit | Free | Free | Free | Free |
Child Tax Credit | Free | Free | Free | Classic |
HSAs | Free | Free | Free | Classic |
Retirement Contributions | Free | Free | Free | Free |
Retirement Income (SS, Pension, etc.) | Free | Free | Free | Free |
Interest Income | Free | Free | Free | Classic |
Itemize Deductions | Free | Free | Free | Classic |
Dividend Income | Free | Free | Free | Classic |
Capital Gains Income | Free | Free | Free | Classic |
Rental Income | Free | Free | Free | Classic |
Self-Employment Income | Free | Free | Free | Classic |
Audit Support | Premium | Deluxe | Free | Premium |
Support From Tax Pros | Not Available | Pro Support | Not Available | Premium |
Small Business Owner (over $5k in expenses) | Free | Free | Free | Classic |
First Tier Price | Free $0 Fed & | Free $0 Fed & | Free $0 Fed & | Free $0 Fed & |
Second Tier Price | Premium $7.95 Fed & $7.95/State | Deluxe $6.99 Fed & $14.99/State | N/A | Classic $17.95 Fed & $36.95/State |
Third Tier Price | N/A | Pro Support $24.99 Fed & $14.99/State | N/A | Premium $37.95 Fed & $36.95/State |
Fourth Tier Price | N/A | N/A | N/A | Self-Employed $47.95 Fed & $36.95 State |
Cell |
Is It Safe And Secure?
OLT.com requires users to enable multiple forms of authentication. The multi-factor authentication requirement protects users in the event of a password breach. The company also protects and encrypts information including Personally Identifiable Information and credit card numbers.
The company also meets third-party standards for data privacy and consumer data protection. Despite the credentials, no website can guarantee the safety of information shared online. Filers must be comfortable with the risks associated with online tax filing to use this program.
How Can I Get Support From OLT.com?
With the Free Edition, your support options with OLT.com are limited to email support and self-help by using the website's Knolwedge Base and FAQs. If you upgrade to Premium, you’ll get audit assistance and Live Chat tech support.
The audit assistance looks like a good value at first. However, Cash App Taxes offers a similar guarantee for free. And unlike other bargain software companies, like TaxHawk and FreeTaxUSA, OLT.com does not have an upgrade option that provides access to tax pros.
Is It Worth It?
Thanks to OLT.com’s thoughtful user experience enhancements, the software is one to consider for bargain hunters. Those that qualify to use Cash App Taxes, should use that platform since it is free, but multi-state filers and people with K-1 forms can’t use the platform.
These filers may want to consider OLT.com as a low-cost alternative. In many cases, OLT.com will have the lowest price for filers who need to file in multiple states.
OLT.com offers a great product, but it isn’t perfect. Active traders will want to choose an alternative like H&R Block or TurboTax. No matter what you’re seeking, we have recommendations for software based on your filing situation.
OLT.com FAQs
Here are the answers to a few of the questions that filers ask most frequently about online tax software like OLT.com.
Can OLT.com help me file my crypto investments?
OLT.com supports crypto filing, but it doesn’t do much to make the filing process easy. Users cannot import IRS Form 8949, so they are left manually entering each transaction. Most crypto traders would be better off using a service like TurboTax Premier to file their returns.
Can I request my stimulus check through OLT.com?
Yes, OLT.com asks specific questions related to the 2021 Economic Impact Payments (stimulus checks). Eligible filers who didn’t receive their payment can receive the full payment by claiming the Rebate Recovery Credit. OLT.com determines eligibility and claims the credit for eligible filers. These funds will be added to a filers annual refund.
People who did not receive stimulus checks in 2020 will need to file a 2020 amended return to claim those credits.
I didn’t receive the full amount for Advance Child Tax Credit Payments. Can OLT.com help me get the rest?
Yes, OLT.com ensures that filers who didn’t receive the expected Advance Child Tax Credit Payments will receive the full amount in their annual refund. The software directs users to Letter 6419 to determine how much money they received already. Any unpaid funds are added to the refund.
Can OLT.com help me with state filing in multiple states?
Yes, OLT.com supports multi-state filing. On the Free tier, filers pay $9.95 per state. On the paid tier, the price per state drops to $7.95 per state.
Does OLT.com offer refund advance loans?
No, OLT.com isn't offering refund advance loans in 2022.
OLT.com Features
Federal Cost | Starts at $0 |
State Cost | Starts at $9.95 per state |
Pay With Tax Refund | Yes, $29.95 extra cost |
Audit Support | Yes, with Premium Edition purchase |
Support From Tax Pros | Not available |
Full Service Tax Filing | Not available |
Printable Tax Return | Yes |
Import Tax Return From Other Providers | No |
Import Prior-Year Return For Returning Customers | Yes |
Import W-2 With A Picture | No |
Stock Brokerage Integrations | None |
Crypto Exchange Integrations | None |
Self-Employment Income | Yes |
Itemize Deductions | Yes |
Deduct Charitable Donations | Yes |
Refund Anticipation Loans | Not offered |
Customer Service Options | E-mail, Live Chat, Phone, Knowledge Base, FAQ's (Live Chat and phone support required Premium Edition purchase) |
Web/Desktop Software | Yes |
Mobile Apps | No |
Promotions | None |
OLT.com Review
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Navigation
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Ease Of Use
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Features and Options
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Customer Service
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Plans and Pricing
Overall
Summary
OLT.com has made significant usability improvements in 2022 while continuing to offer some of the lowest prices.
Pros
- Cost-effective product
- Simple menu navigation
- Well-designed calculators
Cons
- Some screens are still overly cluttered
- Can’t import any forms (including W-2)
Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him on the About Page, or on his personal site RobertFarrington.com.
He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.
He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.
