Softwr

Accounting · head to head

Modern Treasury vs TaxAct

Modern Treasury logo

Modern Treasury

Accounting

Payment operations and ledger infrastructure that sits between your product and your own bank accounts

From
On request
Rated
-
Full reviewWebsite
TaxAct logo

TaxAct

Accounting

Get your maximum refund, guaranteed

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only TaxAct has a free tier, so it costs nothing to try first.
  • Each has a real cost: Modern Treasury you must already have or be able to obtain your own bank accounts with the right connectivity, so early stage companies without a banking relationship cannot use it and are pushed towards a sponsor bank model instead.; TaxAct free edition available only to approximately 40% of filers
  • Prices and features above were last checked on 31 August 2026.

Where they differ

Only the attributes on which Modern Treasury and TaxAct actually diverge.

Attributes where Modern Treasury and TaxAct differ
AttributeModern TreasuryTaxAct
Starting priceOn requestFree
Pricing modelquoteone-time
Free tierNoYes

Identical on both: platforms (Web), user rating (Not yet rated), category (Accounting).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Modern Treasury

  • Multi-rail payment initiation
  • Bank connectivity
  • Ledgers
  • Automatic reconciliation
  • Approval workflows
  • Virtual accounts
  • Compliance tooling
  • Return and exception handling

Only in TaxAct

Nothing recorded that Modern Treasury does not also cover.

What people use each for

The jobs each tool is most often brought in to do.

Modern Treasury

  • A marketplace paying out to thousands of sellers that needs a ledger its application can trust rather than reconciling a payments dashboard by handnot TaxAct
  • A lender originating and servicing loans that must track disbursements, repayments and returns against its own bank accountsnot TaxAct
  • A company that wants to move off a banking as a service provider and hold its own bank accounts after seeing sponsor banks offboard fintech programmesnot TaxAct
  • An insurer handling premium collection and claims payment across several rails with approval controls and an auditable trailnot TaxAct

TaxAct

  • Individual tax filingnot Modern Treasury
  • Self-employed tax preparationnot Modern Treasury

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Modern Treasury

  • You must already have or be able to obtain your own bank accounts with the right connectivity, so early stage companies without a banking relationship cannot use it and are pushed towards a sponsor bank model instead.
  • Pricing rests on an annual minimum commitment, and companies that miss their volume forecast pay the minimum regardless, which makes the headline per-transaction rate close to irrelevant in year one.
  • Supported bank connectivity is a finite list, so if your bank is not on it you are either waiting for an integration or changing banks, which is a far larger project than adopting the software.
  • It is software over banking, not banking, so it does not solve card issuing, deposit accounts or the licensing questions that a company embedding financial products still has to answer elsewhere.
  • The ledger is genuinely good but adopting it properly means making it the source of truth for balances in your product, which is a significant application change rather than a payments integration and is where implementations run long.

TaxAct

  • Free edition available only to approximately 40% of filers
  • Pricing excludes separate state filing fees
  • Xpert Full Service pricing available on request only

Pricing, plan by plan

Modern Treasury

On request
  • Modern Treasury Platform$undefined/year
    • Platform access fee covering API, dashboard, infrastructure and support
    • Usage-based fees across ACH, wires, RTP, FedNow, push to card, cheques and stablecoins
    • A single annual minimum commitment that both platform and usage fees count towards

TaxAct

Free
  • Free EditionFree
    • W-2 income
    • Unemployment
    • Basic credits and deductions
  • Deluxe$59.99/tax-year
    • All Free Edition features
    • Home ownership deductions
    • Childcare and dependent care
  • Premier$99.99/tax-year
    • All Deluxe features
    • Investment income and capital gains
    • Cryptocurrency reporting
  • Self-Employed$109.99/tax-year
    • Complete business support
    • For contractors, freelancers, and sole proprietors

Which should you pick?

Choose Modern Treasury if

  • You need multi-rail payment initiation.
  • You also want bank connectivity.
Modern Treasury review

Choose TaxAct if

  • You want to start without paying.
TaxAct review

Questions people ask

Is Modern Treasury or TaxAct better?
Neither clearly leads. Modern Treasury starts at On request and TaxAct at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Modern Treasury or TaxAct?
TaxAct has a free tier; the other does not. Paid plans start at On request for Modern Treasury and Free for TaxAct.
Does Modern Treasury or TaxAct run on more platforms?
Both run on Web, so platform support will not decide this one for you.
Can I use TaxAct for free?
Yes. TaxAct has a free tier, so you can try it without paying. Modern Treasury starts at On request.
What is Modern Treasury best used for?
Modern Treasury is most often used for a marketplace paying out to thousands of sellers that needs a ledger its application can trust rather than reconciling a payments dashboard by hand, a lender originating and servicing loans that must track disbursements, repayments and returns against its own bank accounts, a company that wants to move off a banking as a service provider and hold its own bank accounts after seeing sponsor banks offboard fintech programmes, an insurer handling premium collection and claims payment across several rails with approval controls and an auditable trail. Of those, a marketplace paying out to thousands of sellers that needs a ledger its application can trust rather than reconciling a payments dashboard by hand and a lender originating and servicing loans that must track disbursements, repayments and returns against its own bank accounts are not what TaxAct is typically brought in for.
What can Modern Treasury do that TaxAct cannot?
Modern Treasury covers Multi-rail payment initiation, Bank connectivity, Ledgers, Automatic reconciliation.

Answered from the vendors’ own pages

Modern Treasury: Is Modern Treasury a bank or a banking as a service provider?

Neither. You hold your own bank accounts and it is software over them. That avoids sponsor bank concentration risk but means you need the bank relationship yourself.

TaxAct: How much does TaxAct cost?

TaxAct offers a free edition for approximately 40% of filers, Deluxe at $59.99, Premier at $99.99, and Self-Employed at $109.99 per tax year.

Source
Modern Treasury: What does it cost?

Not published. A platform access fee plus usage fees across rails, on an annual term with a single minimum commitment. Negotiate the minimum, not the per-transaction rate.

TaxAct: Is TaxAct truly free for eligible filers?

Yes, TaxAct's Free Edition is available at no cost for W-2 employees, students, and filers meeting basic income and deduction requirements.

Source
Modern Treasury: Which rails are supported?

ACH, wires, RTP, FedNow, push to card, cheques and stablecoin payments, subject to what your bank supports.

TaxAct: What is the difference between Premier and Deluxe plans?

Premier adds support for investment income, capital gains, cryptocurrency, rental properties, and home sale reporting compared to Deluxe.

Source
Modern Treasury: Do we still need our own compliance programme?

Yes. KYB, KYC and transaction monitoring are included in the platform, but you are the one holding the accounts and the regulatory obligation sits with you and your bank.

Share

Related pages

More on Modern Treasury

More on TaxAct

Keep looking

Other head to heads