TaxBit Reviews 

TaxBit Tickets (oldest to newest): 67055, 71100, 73165, 83054, 89742

First of all, I want to say that I believe TaxBit will be an amazing Crypto Tax company, but I have been dealing with MISSING TAX BASIS (MTB) issues almost since the beginning of Syncing with my accounts. Maybe I have a fairly complex portfolio configured with TaxBit (3 Exchanges, 2 Wallets, 3 CSV files). I have worked with the Support Team (mostly Russ & Jerry) who have been amazing, and have tried hard to uncover my MTB problems. We have spent many hours on this issue. Due to the MCB issue, I missed the April 2022 filing date, and got a tax extension until Oct 2022, which is coming up. The Support team has tried to fix these issues, even wiping my account and re-adding all transactions. I still have 23 MTB transactions, and have no idea how to fix them. The last update says there is a software bug and I'll be notified when it is fixed; it is nothing that can be fixed by EDITing the transaction. I have tried to escalate this issue many times, to no avail, and have offered to even PAY MONEY to have someone at TaxBit figure out the discrepancies. Again, I believe in this application, but need to get these issues resolved. Surely I'm not the only one having this problem. If I can get my issue escalated and resolved, I will update this Review to 5 Stars.

PLEASE HELP!!!

Update: Thanks Taxbit for the reply. I will be patient for this MTB bug to be fixed. When it is,I'll update my review to 5 as I think the software will be great.

I implore you to read the negative reviews. This was a complete waste of time and money, support and their managers are antagonistic, they seem to think they are all set because they partner with the IRS. What's crazy is that their product straight up doesn't work and support is worse. Inaccurate data that they produce and when you point it out, it's your problem, not their problem. Bizarre one of a kind experience that I hope to never have again with any other company. So glad I found another solution where 1) I was treated with respect and 2) the work was done correctly. Customer does not come first. Nor does accurate data. Product is a joke. I would respect them more if they just said "hey, this isn't perfect yet or even close to perfect, but we're working on it." instead attitude is "we don't know what you're talking about and you need to deal with it." Can't emphasize enough how bad the customer support and the product was. Another reviewer mentioned wasting months working with them to still have totally inaccurate data. Couldn't agree more. Total waste of time and money.

Update: Taxbit replied to my negative review about how the want to build customers for life. If that's the case, I suggest they treat their customers the right way. I understand that the product is ever evolving and have no problems with that. The way they treat customers is bizarre and not cool.

I wish I could give them a .25 star rating instead of a 1 star rating. The overall quality and user-friendliness of the software is slightly better than that of the support, but not much. Support personnel are routinely unmotivated, unknowledgeable, dismissive of the customer concerns, belittling toward the customer, and even aggressive toward the customer. Today, in fact, one of them was baiting me incessantly, attempting to provoke a response of anger from me. This happened when I was trying to convince her to read the background of the support incident - that I just finished providing to her in the chat session - and to come up to speed on the issues that I was attempting to address with them. She became extremely sensitive and more than just a little bit passive aggressive when I pointed out that I have been trying to get a successful result out of taxbit since 12-2021. That's right. It's been about 10 months. I have literally taken months away from work to try to get them to help me with the "normal" operation of their software.
When I asked to have my situation escalated to the next level, hopefully to someone who would effectively represent company management, I was subjected to an attempt to shame me into silence on the technical and customer service issues that taxbit is struggling with. What did he say to me in an emailed response?
"it's self service software. Most people take a look at our product's capabilities and are saying 'oh, cool' and then they go ahead to complete their tax forms. But you... you are not able to get anything done by yourself. You have needed somebody to help at every step of the way."
If it were self service and it worked, he would be in a better position to take that approach.

It looks to me as if taxbit is struggling unsuccessfully.
The dates of my experience with taxbit span the interval from mid December 2021 to today.

09-12-2022
In response to taxbit's reply, I will compile a partial list of ticket numbers. It will have to wait until I have more free time, though.

I think the people at Tax Bit are really nice! and the platform is very good. I am unable to track all the trades myself, so this has been really helpful

Just wanted to throw my recommendation out there for TaxBit when it comes to consolidating crypto activity into TurboTax. The process couldn't have been easier. I was able to quickly and easily link the multiple exchanges used (following the usual login authorization processes, of course), sync transactions easily and export data in various formats, including TXF which was easily accepted by Turbo Tax. It was all done in minutes.

TaxBit's website is awesome but their tax services are unreliable.

I'm still waiting on my 2021 trading information to be completed accurately by TaxBit. I have spent countless hours on the chat service attempting to get it addressed. I was told months ago that they had submitted a ticket to resolve the problem I have been patient but after months of waiting I am told to wait longer. The IRS doesn't care about my technical difficulties with TB system.

I mentioned to a friend that who I suggested use their service that I was having issues he told me that he overpaid his taxes by 100% using their service. This is not an exaggeration. He had to apply for a refund from the IRS, which he still hasn't received months later. He said that his 2021 taxes have changed 3x since he submitted them but he can't send an amendment until he get the original over payment back. The portfolio tracking history TaxBit has on the opening login in page shows my all time account balance at 3x than it ever was!!!!

The chat service agents are friendly but they have no technical knowledge to resolve duplicate transactions or missing information or import problems. You can't just delete your data and attempt to download it again to see if it populates accurately this time. The agents have to create another ticket for which they also can not tell you when the data will be deleted so you can start over.

The agents always say that their team is working on it but they can not give a deadline or even a ballpark for resolving any problems. They can't say if it'll be days, weeks, or months. It seems like TaxBit hangs the customer service agents out there to be beaten up with no updates. There's a super easy solution to letting customers see where they are in the line up create a ticket desk so we can track it. This way there is no infinite waiting creating more stress and distrust. This is help desk 101. Also why in the world would they not have banner up upon log in stating that there is a problem or an email notification that something is wrong with how they are pulling transaction data from from exchanges.

Who cares if you cover 500+ exchanges if the data isn't accurate?

TB charges in advance for their services so I've already paid for 2021 taxes but they haven't completed them were almost in month 9 of 2022. I don't prepay my account why are they charging for services not even rendered???

Crypto is the Wild West right now and it hard to tell who is reliable and who is on the way out. TaxBit may get it together at some point but their prices are as high or higher than their competitors but IMO the service falls short.

Software doesn't work. I've wasted countless hour with their online support. Online support can't figure out why its not working either. For over a month now they keep saying that their engineers are looking into it. They refuse to provide a timeline or update. They don't seem to care that their software doesn't work and I have a tax deadline to file.

AVOID AT ALL COSTS. You'll just end up wasting your time and money.

UPDATE: Taxbit replied to my review asking for my support number so they could "escalate it. What a Joke. I've already talked to 5+ support reps there, escalated to managers, etc. I even let them know I would be writing a bad review if they did not actually fix the problems or provide a timeline but they never responded.

I am so disappointed with the Taxbit service. I have been trying to upload my transactions and remove flags since April-22. The customer support team is friendly but they seriously lack expertice. Their ability to solve issues is nonexistent and they basically just take notes and send it to the excalation team to solve which can take weeks. They lack the basic knowledge of the exchanges and how they operate. I was told by 2 team members and their supervisor Bella to "go back and look through the transactions history for Kucoin bot trades and punch it in. Missing cost basis flags appear in the system when you're missing acquisition data for a particular asset". I was basically told to go in and try to find out the cost for thousands of bot transactions worth pennies and punch them in when all I wanted was to find out how to fix these at once. Finally a day later I got an answer from Jerry that “ KuCoin does NOT include bot trades in their API or CSV.” I had tried to explain this to them at nauseum but no-one listened. Jerry finally told me how to add manual transactions covering all bot trades. Well I worked on this for a few days and everything was going smoothly until the system crashed and ignored all my buy orders. I have tried to contact the "excalation team" with no help. Customer support staff emailed me "I reached out to our Escalation Team in regards to you not being able to add those Buy transactions and there was a bug causing that error. You should be able to add those transactions now without an error. You can go to "Add Sources" > Add Single Transaction." Again, the buy orders were added already but the system started ignoring them suddenly. The missing cost flags reappeared despite me adding in the correct values days prior. I don't thing anyone listens. I was told this "bug" only is occurring in my account. That sounds very odd to me. The system was working for a few days but then started ignoring my buy orders and my account value is way off!!! Apparently the supervisor Bella cannot be reached via email anymore, which is unheard of. At this point I am just left to wait and hope for the best but again I have been waiting since April, and when they submit a ticket often it is weeks. Meanwhile the clock is ticking and I need to get my taxes in. If it is only my account why is it taking so long? Why am I paying extra for the highest level of support when I get none? I wish someone at Taxbit would solve this issue and reach out to me so I can move on and get my taxes done!

Still waiting on a response from the "escalation team". Six weeks, maybe seven at this point. A major crypto exchange sync is failing (transactions). Really glad it's not tax season in the US.

I've tried out a few "crypto tax services", and (IMHO) Taxbit comes out on top for a couple of reasons:

1. They seem to have the best integration / selection of exchange / wallet API support.

2. Their customer service is great; if you need help importing a CSV into your account, they can help you out with that.

They're actively improving the product with NFT support and they're starting to build out more of a "portfolio" feature, which is cool. I'd give 'em a try!

Working with Taxbit has been a great experience. The team is professional, kind, and very responsive. They regularly provide updates on my requests. The entire team has been a joy to work with.

Best for linking with the big exchanges, connects with hardware wallets, works with the IRS to provide assurance. I used them for TY2021, and had no issues at all. Quick and easy import into TurboTax. Best of all --- it's free!

I love TaxBit. It keeps everything in order. It is very easy to use and customer service has been great when I've needed them or had questions.

I can't tell you how many hours I have spent over the past two tax seasons, trying to get TaxBit to sync correctly. I eventually abandoned trying to get it to sync automatically via API, and instead went to manual transactions. After many, many tedious hours spent trying to resolve missing cost basis issues, I finally got everything squared away. Then, a few weeks ago, TaxBit did some kind of update on its end, and my crypto balances are now all screwy, with many new unresolved cost basis issues. Two steps forward, followed by four steps back. I have now decided I am done wasting my time trying to get TaxBit to work. Not sure which service I will try next, but I would warn you against going down the TaxBit road. It's not going to work like they advertise. It's not going to work without a lot of time on your end. Then, once you finally get it working, TaxBit will introduce a new bug that sends everything to hell.

can't even signup on this website.

how this company got 1.6 bil funding??

Taxbit contacted me right after I posted my problem on Trust Pilot. They kept me posted and in a couple days my problem was resolved. Belo was my first submital to TRust Pilot.

Initially I contacted customer support because I was unable to log in with PW and recovery code. It would not accept my 6 digit authentication code. Responsive first 48 hrs but no solution. It has been 11 days and they have not responded to numerous requests. I need help and need it now .

Your customer service Rep, Jade said that my ticket would be closed but Taxbit tech services would be work in the problem. Email: edgfbirch@gmail

It's been great seeing Taxbit grow, but as they've grown they've lost the quality of support for users. I ended up trying out some other crypto tax solutions this year and was happy to find other smaller players with much better support.

I had a very positive experience with their support. They worked with me until my issue was resolved. The format is simple to use and very helpful in my opinion. I recommend.

Doesn't pull in all prices and calculate transactions. I paid for Pro membership $500 and didn't get any cs support during normal business hours.

Pros:
- good interface, easy to use (usually)
- customer service is quick and they seem to be located in US and all of them are super nice
- direct API integration. Sometimes small issues, but overall good

Cons:
- 2 years ago, I would've given 5 stars. Not today.
- they decide to change the tax engine to a new version in the middle of tax season. Who does that? Of course they had hiccups. Even though I was proactive and I had everything sorted at the beginning of the year, this upgrade messed EVERYTHING up, so I had to start over.
- can't upload CSVs anymore. Always gives you a formatting error.
- unless you are with an escalation ticket, their lead time for CSVs is 2-3 weeks now.
- unless you have direct API integration, expect a lot of hassle

I have lost over a full week already in dealing with their new issues, and counting.

It is simply unacceptable to do such a major change in the middle of tax season.
ZERO stars to management.
FIVE stars to customer service team, who have to deal with all that!