The EY Tax Desk can help your financial advisors better serve their clients.

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When people work with financial advisors, they expect a one-stop shop that can make sense of their dollars and cents — including the tax-related impact. But advisors can’t be expected to know everything, and time spent researching is time better spent working with clients.

The EY Tax Desk of Ernst & Young LLP provides thorough, easy-to-understand responses to financial advisors on tax and retirement plan questions. As a service of Ernst & Young LLP’s Employee Financial Services practice, the Tax Desk offers your financial advisors the ability to provide rapid responses to their clients’ tax questions, helping to set your firm apart from your competition and reducing the time and costs of research. The Tax Desk reduces the need for advisors to refer clients to other tax professionals and increases an advisor’s credibility when speaking with a client’s other financial representatives.

We are a leader in tax, and our Tax Desk can be a difference-making benefit for your financial advisors. Our Tax Desk professionals answer complicated questions every day, and they have access to the most up-to-date tax resources available. When appropriate, they will provide your financial advisors with supporting documentation from recognized sources such as IRS publications, sections of the Internal Revenue Code and tax publications.

  • How we can help

    The EY Tax Desk can help your financial advisors in three distinct areas:

    1. A competitive edge
      • By providing your advisors with high-quality service in a timely manner, we strive to help enhance your standing in the financial services industry and support your ability to meet your business goals.
    2. An unbiased and trusted resource
      • We have provided Tax Desk services for more than 15 years, handling more than 200,000 calls. Our focus has been on being a trusted provider of unbiased tax education and guidance. Our experience and knowledge are transferred to your advisor teams to help strengthen your competitive advantage.
    3. A convenient and time-saving resource
      • With the assistance of the Tax Desk, your advisors will be better positioned to respond more quickly and authoritatively to client questions. And access to our Tax Desk professionals is easy: the phone lines are open Monday through Friday, 9:00 a.m.– 6:00 p.m. ET.
  • What we do

    While providing responses to our financial advisor clients, the firm’s Tax Desk professionals field questions on tax topics such as retirement plans (Individual Retirement Account (IRA) contributions, conversions, rollovers, minimum distribution and employer plans), transactions (cost basis, step-up, capital gains and losses, and wash sales), deductions (interest expense, charitable contributions and tax credits) and tax reporting (1099, 1040 and K-1). The following are examples of questions we can answer:

    • How will the 3.8% Medicare tax on net investment income impact capital gains?
    • What taxes will a nonresident alien be subject to?
    • How does my client calculate the foreign tax credit?
    • What are the Roth IRA conversion rules for non deductible IRAs?
    • How is an asset’s cost basis adjusted at death?
    • If I hold a master limited partnership inside of an IRA, is it taxable?
    • What is the difference between original cost and adjusted cost for bonds?
    • How are gold exchange-traded funds taxed?
    • What are the requirements of a section 1031 exchange?
    • How are incentive stock options and non-qualified stock options taxed?
    • How do long-term capital gains affect a client’s alternative minimum tax liability?
    • What are the tax provisions of the Affordable Care Act?
    • Can a client take a loss on the sale of a variable annuity?
    • How is a client’s social security benefit taxed?
  • Our service standards

    Our Tax Desk maintains the following basic service standards:

    • Average speed of answer. An impressive 80% of our calls result in a conversation with a Tax Desk professional within 30 seconds of the call initiation.
    • Abandoned call rate. Our standard is less than 3%.
    • Callback time. Our standard callback is within one business day. All phone lines maintained by the Ernst & Young LLP Tax Desk accept messages seven days a week.
    • Documentation. All phone calls are recorded and documented in detail in our contact management system in order to deliver a consistent and high level of service.
    • Reports. Detailed reports are provided that summarize the topics discussed.
  • Our qualifications

    To continue our pursuit of offering the highest-quality service, our average Tax Desk professional has more than seven years of industry experience and must have or be working toward at least one formal, recognized credential (e.g., CFP, CPA, PFS, JD, MBA).

    Our stringent training requirements

    • We require each Tax Desk professionals to complete at least 120 hours of formal continuing education programs over a three-year period. Most of our Tax Desk professionals significantly exceed this requirement.
    • Training is primarily conducted in our own classrooms, led by in-house and outside professionals, with some outside classes and online courses.
    • Our Tax Desk professionals must also successfully complete an intensive phone counseling training program, as well as ongoing training in client service skills.

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