‎EY TaxChat on the App Store

It makes filing tax returns simple, fast and reliable – no appointments, paper documents or complicated tax software needed. One of the fastest and most accurate options you can secure for your personal and business taxes comes from a modern company that’s 119 years young — Ernst and Young’s TaxChat. It’s a full service tax preparation service similar to TurboTax or H&R Block’s full service offerings. EY is a global leader in assurance, tax, transaction and advisory services. H&R Block can connect you with a tax professional if you don’t feel comfortable doing taxes yourself or you want to save time. H&R Block may be cheaper than EY TaxChat for certain situations.

Within your profile, you will indicate how you would like us to handle any refund or balance due on your returns. If you would like these funds automatically debited or credited, simply indicate this in your profile and provide your bank account routing and account number. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. The offering also aligns to EY corporate clients’ business agendas through digital ecosystem integration, as part of financial wellness employee programs, as well as governments going digital in tax.

EY TaxChat is ideal for someone who is very comfortable using technology, since there are no in-person appointments. All correspondence and document sharing is done online via the web or the EY TaxChat mobile app (available for iOS and Android). But fees can be higher depending on how complex your return is.

  1. A single filer with no dependents and income from one job in New York who contributed to a retirement account and paid student loan interest can expect to pay at least $320.
  2. After uploading all of the required documentation, your tax pro will prepare your return.
  3. Once society nails down Vulcan mind-melding, EY TaxChat will likely add that method as well — it’s that committed to connecting customers with human tax experts.
  4. Download the app or visit the EY TaxChat website to register, answer a few questions and upload tax documents.

If your returns are eligible for e-filing and you complete your e-file authorizations timely, you will receive notification once your returns have been successfully e-filed. If you would like a copy of the e-file acceptance confirmation from the taxing authorities, send a message through the app, and we will provide that documentation to you. This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. EY TaxChat covers all aspects of your 2021 tax filing — personal 1040s, 1065 business returns, Form 1120 corporate returns — and provides all the advice you need to complete them and troubleshoot your tax issues. The price of filing through EY TaxChat depends upon the complexity of the return.

Ernst & Young TaxChat is right for you if:

A seamless digital journey makes it easy to become an EY client. Download the app or visit the EY TaxChat website to register, answer a few questions and upload tax documents. A dedicated EY tax professional takes care of the rest, available to answer any queries directly through the Chat function. Once completed, you can view and digitally approve your tax return for submission to HM Revenue & Customs – all directly within EY TaxChat. EY TaxChat is easier to use than do-it-yourself tax software because the work is done for you.

The service is backed by Ernst & Young LLP, one of the Big Four accounting firms, and all of the tax preparers are either certified public accountants or enrolled agents. Pricing for https://turbo-tax.org/ starts at $199, and that base fee includes your federal return and one state return. But your cost could be higher depending on how complex your tax return is and how many state or local returns you need to file. If the audit is for a tax return prepared by EY TaxChat, we can discuss with you the options we provide as part of a separate services agreement.

The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. Any income received from staking, mining, earn products, hard forks, airdrops and other similar items is considered as ordinary income at the value of the asset on the date received. Most questions can be resolved quickly and easily via messaging. However, if you are not able to resolve your questions via chat, your EY contact will be able to schedule a call with you. Visit our FAQs page or get in touch by filling the contact form below.

You can expect to pay more if you have multiple sources of income, homeownership deductions, investment gains, business expenses, or rental property. Your assigned tax professional will prepare your federal and state returns. You review the returns, electronically sign them, and they’re filed without you having to leave your home or meet with anyone in person. EY TaxChat™ connects you with an EY tax professional who prepares your return and files for you on your schedule, eliminating the hassle of appointments, paper documents and complicated software.

How Much Does EY TaxChat Cost?

For example, a W-2 if you’re a salaried employee or one or more 1099s if you’re self-employed. If you have questions about the required forms, you can start a chat with the support team at any time — but it may take up to 48 hours to get a response. For example, the price to prepare a simple return for a single filer living in New York with no dependents, W-2 income from one job, retirement contributions, and student loan interest was $320. If you have any questions about your returns, please send us a message. If needed, we will update your returns prior to the filing deadline. If we receive 100% of your tax documentation by March 20, 2024, we will be able to complete your returns by April 15, 2024.

A quick Google search could help you find a current referral code. While EY TaxChat has pricing similar to what TurboTax charges, TurboTax pulls ahead when it comes to accessing your records. You can log in to TurboTax and make digital copies of your tax returns from the last seven years, assuming you filed with TurboTax. This feature may come in handy if you ever need a copy of your return for, say, a mortgage application or a Free Application for Federal Student Aid (FAFSA).

When you register with EY TaxChat, the software will ask a few questions about your tax situation and estimate your fees. If you accept the quote, EY assigns you a licensed tax preparer. Your tax pro may ask additional questions or have you upload information via EY TaxChat’s secure online portal or the mobile app. EY TaxChat is an on-demand mobile and desktop service that connects you with knowledgeable tax professionals who can prepare and file your return in a secure, online environment. This five-star platform goes toe-to-toe with its competitors, and, buoyed by top-line CPAs and IRS enrolled agents, it files your taxes right and right on time.

The information you provide to ey taxchat — including documents, profile information and information shared via chat — is seen only by those individuals working on your return. Your tax return information cannot be accessed by your employer – or any other party – without your consent. During the registration process, you will be prompted to answer some questions about your 2023 tax year. For example, did you have a mortgage or dependents, or did you have investment income?

EY TaxChat FAQs

Two similar tax profiles — a single filer with no dependents, income from one job, and student loans — turned up a price quote of $320 at EY TaxChat versus $150 (plus an additional state fee) at H&R Block. If you’d like the option to meet with your tax pro in person to go over your return, ask questions, or submit supporting documents, H&R Block is the better choice. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.

It’s only after you accept the quote that you’re asked to upload documents or provide your Social Security number. EY TaxChat makes filing personal taxes simpler, faster and more reliable. You don’t have to make an appointment, mail paper documents or understand complicated tax software. Profits you make from digital currency — including cryptocurrency and NFTs — are taxable and generally classified as capital gains. This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients. If you decide to move forward with EY TaxChat, you’ll get a list of tax forms to upload to your account.

EY TaxChat offers full-service tax preparation with a certified public accountant (CPA) or enrolled agent — online or through its app. It’s a great fit for those with complex returns, but it’s one of the more expensive options we’ve seen, so it’s probably not right for those with simpler taxes. EY TaxChat offers a streamlined digital tax prep experience for those who want to hand the task off to a professional, though it could be more expensive for simple filers than TurboTax or H&R Block’s full service offerings.

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