EY announces EY TaxChat, the first direct-to-consumer EY tax service, which will be available to individual taxpayers in several countries around the world.
An on-demand mobile tax preparation service, EY TaxChat offers personalised service from a licensed EY professional who will prepare and file tax returns on the taxpayer’s behalf. The service is currently available to consumers in the United Kingdom and the United States, with Brazil, Canada, Australia and France coming online later in 2020.
This mobile tax preparation offering is an EY investment in the digital consumer with tax filing needs and financial situations that are increasingly complex and diverse – a market opportunity of US$15b in key countries around the world.
EY TaxChat is designed to handle the growing complexities of tax filing, whether it’s due to cryptocurrency and other investment vehicles, investment portfolio changes, rental property ownership, self-employment, or other factors. And, as a modernised, digital service, it helps consumers engage how and where they want to.
The offering also aligns to EY corporate clients’ business agendas through digital ecosystem integration, as part of financial wellness employee programmes, as well as governments going digital in tax.
Kate Barton, EY Global vice chair – Tax, says, “Technology, globalisation and demographic shifts are transforming the business landscape and society, giving rise to a very different set of market conditions. Entering the consumer market reflects these megatrends. EY TaxChat helps deliver advanced digital technology —supported by EY Tax professionals and combined with deep experience helping corporates navigate a complex global tax landscape — to the individual taxpayer.”
The service has previously been accessible exclusively as an employee benefit for EY people and clients who work with Ernst & Young LLP’s Employee Financial Services practice in the US. EY TaxChat is available for download in consumer app stores and is also offered at a discount by employers who are contracted with EY member firms. It is also available from a number of financial services organisations and wealth advisors that offer EY TaxChat within their service and ecosystem environment.
Dina Pyron, EY Global TaxChat Leader, says, “The accelerated pace of digital and regulatory change has led to increasing complexity for taxpayers and authorities around the world. Today’s global workforce is more sophisticated, digitally-minded and flexible than ever before. At EY, we are committed to helping every taxpayer – individual and corporate – navigate this evolving landscape. EY TaxChat helps deliver traditional services in a new way to provide individuals with a modern, broad set of tax compliance and mobility services for a digital, data-intensive world.”