Taxfyle and Column Tax Launch First Ever Full Service Embedded Tax Solution

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Oct 02, 2024, 09:15 ET

The partnership allows companies to bundle tax services and on-demand consultations into their existing product offering, keeping users engaged year round.

MIAMI, Oct. 2, 2024 /PRNewswire/ -- Taxfyle and Column Tax are partnering together to provide companies nationwide with an all-in-one embedded tax and accounting experience. Previously, companies would have to offer services such as tax and tax consultations off-platform by referring them to companies such as TurboTax and H&R Block. As a result, the company loses contact and support with customers, reducing associated net promoter scores and time on the platform.

This is the accounting industry's first end-to-end embedded tax solution supporting users with offerings such as: do-it-yourself taxes, on-demand tax consultations, assisted professional taxes, and full-service professional tax offerings. It is also the first embeddable tech service regardless of industry.

"This collaboration marks a significant step toward providing an all-in-one tax solution that enhances customer experience and retention," said Ricky Lavina, co-founder & CEO of Taxfyle. "We recognize that individuals and small businesses need options when it comes to tax help. Some need professional help, while others prefer to put in the work and do it themselves. Column Tax and Taxfyle are two sides of the same coin."

This partnership will significantly reduce the burden companies face when managing each step of the tax process. Users will be able to access support from licensed CPAs and EAs seamlessly from Taxfyle while maintaining platform retention via Column Tax.

"We're thrilled to partner with Taxfyle to bring a fully integrated, end-to-end tax solution to taxpayers nationwide," said Gavin Nachbar, co-founder & CEO of Column Tax. "Our goal has always been to simplify the tax filing by connecting the process to financial products people already use. This new partnership gives our customers a fundamentally better way to offer embedded tax products across DIY, assisted, and full-service filing."

Tax compliance isn't just about filing returns; it involves navigating a web of rules at the county, city, state, and federal levels, all of which can become overwhelming. Traditionally, companies are burdened by DIY models which are prone to error, or assisted services which often charge high fees for the work performed. The joint offering enables companies to go from offer a once a year, third-party offering to something embedded and connected for their users.

The embedded tax solution will use Taxfyle's API, creating a streamlined, single-sign-on experience. This integrated approach aims to save business owners time by handling complex tax regulations, filings, and compliance. The solution will help ensure compliance with local, state, and federal tax regulations, reducing the risk of errors that could lead to fines or penalties.

SOURCE Taxfyle