Chart

What is Chart?

Quick Introduction

Chart is a highly specialized API designed to grant tech-oriented companies real-time access to federal and state tax records with ease. By integrating directly with IRS, state tax agencies, and leading tax preparation software, Chart streamlines the retrieval of tax documents, ensuring that businesses receive verified and structured data every time. This makes it an ideal solution for companies that need to automate tax document collection, reduce operational overhead, and guarantee the authenticity of the records they work with.

Designed with a developer-first mindset, Chart offers a modern REST API, complete with SDKs in all major programming languages. The extensive documentation guides developers through the process of integrating Chart seamlessly into their applications. Offering multiple methods of submission, including the ability to connect directly to IRS and state online tax accounts, tax prep software connections, and simple PDF uploads, Chart maximizes flexibility for users.

Pros and Cons

Pros:

1. Real-time Access: Always have the most up-to-date federal and state tax information, directly from official sources, which ensures timely and accurate data collection.
2. Verified Documents: Authenticate tax documents directly from government databases and leading tax prep tools to ensure reliability and reduce fraud risk.
3. Enterprise-Grade Security: Ensure the highest level of data protection with non-persistent credentials, granular access controls, and compliance with major frameworks.

Cons:

1. Implementation Complexity: Integration of the API may require advanced technical expertise, which might be challenging for non-technical teams.
2. Cost: Depending on the volume of records processed, the service might be more costly compared to other less sophisticated solutions.
3. Limited Use Cases: Primarily designed for tax document collection, which might not be versatile enough for businesses with broader data needs.

TL;DR

1. Real-time access to federal and state tax records.
2. Guaranteed authenticity of documents from official sources.
3. Flexibility for users with multiple submission options.

Features and Functionality

• Real-Time Access: Integration with the IRS, state tax agencies, and major tax software solutions ensures actual, up-to-the-moment data gathering.
• Verified Documents: Retrieves tax returns directly from trustworthy data sources to ensure the integrity and validity of the records.
• Structured JSON Output: Utilizes OCR to process tax returns and outputs them as well-formed JSON objects, simplifying data manipulation for developers.
• Developer Friendly: Offers a modern REST API with extensive SDKs, sandbox environments, and comprehensive developer documentation to streamline integration.
• Enterprise-Grade Security: Implements non-persistent credentials, compliance frameworks, granular access controls, and PII reduction features for robust data protection.

Integration and Compatibility

Chart integrates seamlessly with the IRS, numerous state tax agencies, and all major tax preparation software, making it a versatile tool for any tech-oriented company that deals with tax document collection. It offers SDKs in various major programming languages, ensuring developers can integrate the API regardless of their tech stack. While the service currently boasts wide compatibility, its standalone efficacy ensures that even businesses not using other integrated tools can still leverage its functionality through simple upload methods like PDFs.

Benefits and Advantages

• Enhanced Accuracy: Directly sourced tax records reduce the risk of data input errors.
• Time Efficiency: Automated data collection and processing save significant time and operational resources.
• Improved User Privacy: Features like PII reduction and non-persistent credentials ensure data privacy and enhanced security.
• Better Decision-Making: Streamlined and verified data improves the quality of business analytics and decision-making processes.
• Scalable Solutions: Chart’s infrastructure is tailored for scalability, catering to both small businesses and enterprises.

Pricing and Licensing

Chart offers a tiered pricing model to accommodate businesses of all sizes.

Smaller companies can start with basic plans that cover a set number of record transactions per month, while larger businesses might opt for premium or enterprise plans that offer unlimited transactions and additional support features. Each tier is designed to scale with the organization’s needs and budget, promoting wide accessibility.

Support and Resources

Chart offers a range of support options, including dedicated customer service representatives for premium tiers, thorough documentation, a robust API reference, and a thriving community forum where users can exchange tips and receive guidance from experienced developers. Users also have access to sandbox environments for testing and integration trials.

Chart as an Alternative to:

Chart is an excellent alternative to manually collecting tax documents or using less sophisticated tools that do not offer real-time data access or guaranteed authenticity. One notable comparison could be made with Plaid for financial data; while Plaid excels with bank transactions, Chart’s specialization in tax documents makes it particularly adept at ensuring verified and structured tax return data.

Alternatives to Chart

• Plaid: While primarily focused on financial transactions, Plaid does offer tax documentation features and might be suitable for organizations needing a broader financial data API.
• Idology: A strong alternative for identity verification and compliance services, especially for companies focused on personalized customer interactions and fraud prevention.
• Sovos: A comprehensive solution for tax compliance and reporting that goes beyond document collection, with additional features tailored for tax management.

Conclusion

Chart is a powerful API tool designed for companies seeking reliable and real-time access to federal and state tax records. Its combination of verified and structured documents, robust security features, and developer-friendly interface make it an indispensable asset for tech-oriented businesses. With its varied integration capabilities and scalable pricing models, Chart caters to a wide range of needs, from small startups to large enterprises. The focus on security, privacy, and accuracy positions Chart as a leader in the realm of automated tax document collection.