A new alternative to both the online do-it-yourself and the brick-and-mortar tax franchise methods of filing personal income tax returns is now available. Taxhub™, a New York City based startup, has launched a website that recreates the experience of going to a full service tax prep franchise. Personal communication channels and document sharing over the internet has significantly evolved in the last 5 years opening the doors for this new method of filing tax returns. Their secure portal makes document sharing so convenient that customers are even able to take a picture of their tax documents with their smart phone and text them directly to the portal. Due to the significant cost savings from not having hundreds of retail locations, this service can be offered at a significant discount, as compared to traditional brick-and-mortar full-service tax prep franchises.
Taxhub™ is committed to addressing recent concerns over identity theft, and in doing so provides a knowledge-based identity verification software solution, powered by Experian®. This verification process has recently been mandated by the IRS through changes in their electronic signature protocol which requires customers to verify their identity through a series of questions about their financial history taken from credit bureaus and other municipal databases.
This new method hopes to gives customers a cheaper alternative to traditional tax prep franchises. The Company founder, George Birrell, CPA, speculates that this new method will eventually take a significant market share from traditional brick-and-mortar retail locations much like retail video stores such as Blockbuster® were replaced in the 2000’s. He even thinks that this method can take some of the market share of online do-it-yourself websites as customers realize the price differential between DIY sites and this new method is much smaller than expected.
The company has been privately funded up to this point but, as public response has been extremely positive, is currently courting venture capital firms to be able to meet customer demand.
GB Taxportunity, LLC dba. Taxhub™ is a New York based investor funded startup. At Taxhub™, we believe it’s time to bring the transparency of the new economy to places that haven’t embraced it yet. And the tax business is one of them. There is no excuse not to innovate, and offer your customers more and more every day. And that’s our pledge, to you.