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Frequently Asked Questions

Have a question? We’re confident you’ll find the answer here, but if not please email sales@taxexact.com
What is TaxExact?

TaxExact is a cloud-based tax return verification tool that helps CPAs and tax practitioners independently validate and confirm the accuracy of their tax preparation software's end result.

Does TaxExact replace my current tax software?

No. TaxExact does not replace your existing tax software. TaxExact is a verification tool that works seamlessly with you existing tax software to independently verify the accuracy of the return.

How does TaxExact minimize errors?

TaxExact is a completely independent tax return instance that is used to compare what was generated from the tax preparation software. With this independent expectation, you can quickly identify any errors or oversights that occurred during the preparation stage of the tax return process.

How is TaxExact different from the tax software I'm already using?

TaxExact complements your existing tax software, working independently to produce an expectation of the return in minutes. TaxExact will isolate errors at the preparer and/or first reviewer level, so that they may be resolved early and save time in the review process. When the final reviewer receives the return from the tax software along with a matching independent instance from TaxExact showing complete accuracy, and final review time is reduced to minutes.

How much time will it take my team to learn and use TaxExact?

While this may vary, TaxExact doesn't require implementation time or training. Designed to be extremely intuitive, we find that most users are very comfortable with TaxExact after using it with just couple of returns.

Do I have to change my existing process?

Anytime a new software is implemented, processes will likely change, but with a few minor adjustments to your workflow, TaxExact should fit seamlessly into your existing process with your existing tax software. Key to implementing TaxExact is deciding whether you want to use TaxExact at the preparer level or at the first reviewer level. Either way, by the time a return gets to final review, TaxExact dramatically reduces the time it takes for that review by providing an independently verified instance of the return created in your tax software. No more line by line, tedious work on nights and weekends to finalize returns!

How does TaxExact save time in the review process?

TaxExact removes the classic bottleneck firms experience at the final reviewer level. Ideally used by the preparer or first reviewer, TaxExact will identify mistakes and inaccuracies on the front end of the process, allowing for the delivery of a flawless return when it lands in final review.

How does TaxExact help with workflow?

The TaxExact dashboard shows, at a glance and real time, where each return is in the process and who is working on the return.

Does TaxExact work with every tax software?

Yes! It works independently, so there is no need to make changes to the software you are currently using.

How can I be sure TaxExact will work for my firm?

TaxExact has been designed, implemented, tested, and improved for more than six years by a New York state CPA and his team of seven tax preparers. We understand how CPAs work and how errors happen and are confident that we've come up with an innovative solution that can help any tax professional, from solo practitioners to corporate tax firms. Not only that, but TaxExact comes with a free trial so you can give it a test drive, and there are no long term contracts or commitments with TaxExact.

How much does TaxExact cost and how do credits work?

TaxExact is sold in bundles credits that can be purchased in the application at any time. Click on your name at the top right on the screen, scroll to Credits & Billing. This is where you will see pricing based on number of credits purchased. A credit is used for each project. Projects are returns, amendments, and projections.

Can I import information from my tax software into TaxExact?

TaxExact is designed to independently verify the information that is in your tax software. You can upload a csv file of your client data into TaxExact by clicking on the client icon and then selecting Import Clients. You will be prompted to upload a csv, and TaxExact will map the fields listed. Because TaxExact is designed to independently verify data that is entered into tax software, you cannot import data from your tax software directly into TaxExact.

Where can I find tutorials and basic 'how to' information for using TaxExact?

In the TaxExact application, click on Help & Support. From our website, scroll to the bottom of the page and click on Help & Support. You will see all of our support options including a link to our 'how to' videos that reside on our YouTube channel.