Taxfyle and Column Tax have announced a partnership to deliver an embedded tax solution to companies.
This solution, said to be the first of its kind, is designed to provide a seamless, all-in-one tax and accounting experience directly within company platforms.
Previously, businesses had to refer clients to external services for tax needs, leading to a disconnect and potentially lower customer satisfaction.
The new solution promises to keep users engaged on the original platform, enhancing net promoter scores and time spent on the site, the company said.
The partnership is expected to enhance the tax process by integrating support from licensed certified public accountants and enrolled agents through Taxfyle, while maintaining user retention via Column Tax.
The solution offers a range of services including DIY taxes, on-demand consultations and full-service professional tax assistance.
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By GlobalDataNavigating tax compliance involves complex rules at various governmental levels, which can be daunting for companies, Taxfyle said.
Traditional methods, whether DIY or assisted services, often result in errors or high fees, it added.
The joint solution by Taxfyle and Column Tax allows companies to embed and connect tax services directly for their users, transitioning from an annual third-party offering to an integrated feature.
The embedded tax solution leverages Taxfyle’s application programming interface to ensure a streamlined experience with single sign-on capabilities.
This integrated method is designed to save business owners time and ensure adherence to tax regulations, thus minimising the risk of costly errors.
Taxfyle co-founder and CEO Ricky Lavina said: “This collaboration marks a significant step toward providing an all-in-one tax solution that enhances customer experience and retention.
“We recognise 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.”
Column Tax co-founder and CEO Gavin Nachbar said: “We are thrilled to partner with Taxfyle to bring a fully integrated, end-to-end tax solution to taxpayers nationwide.
“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.”
In February 2022, Taxfyle raised $20m in a Series B funding round led by Fuel Venture Capital and IDC Ventures.