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A simplified model is proposed for predicting the nonlinear dynamic response of vertically loaded tapered piles in the time domain, in which the tapered pile is divided into several frustum segments and the four-spring is used for the simulation of the soil–pile interaction. The differential equations for the tapered pile are given and solved by the finite difference method. The vertical dynamic response of a typical tapered pile is investigated, and the consistency of the computational results compared with the finite element results convincingly verifies the reliability of the proposed simplified model. Then, recommended segment numbers, considering the computational efficiency and accuracy requirements for the dynamic analysis of tapered piles, are given. And parametric studies are also carried out to investigate the effect of soil and pile parameters on the nonlinear dynamic response of the tapered pile. The results show that soil nonlinearity significantly affects the vertical dynamic characteristics of the tapered pile. And the tapered pile shows better dynamic characteristics than the cylindrical pile with the same volume and pile length. In addition, the properties of the soil along the upper part of the tapered pile have a more considerable effect on the dynamic response of the tapered pile. These results help to further improve the theory of nonlinear dynamic response analysis of tapered piles and promote its widespread application in engineering practice.