Everything you need to know about outsourcing income tax preparation

Outsourcing gives you access to tax professionals with specialized knowledge. These experts are well-versed in complex tax laws and regulations, ensuring that your tax filings are accurate and up-to-date. Get seasonal tax preparation help to yield high returns and tax benefits now and later. One significant difference between offshore and onshore outsourcing is consent. Section 7216 mandates that taxpayers give consent before their 1040 tax information is disclosed to a third party outside of the United States.

Consider not just the immediate expenses, but also the long-term benefits, such as reduced risk of errors and the value of having more time to focus on your core business activities. You can choose from various pricing and engagement models, ensuring that the service you receive is aligned with your specific requirements. Implement our API within your platform to provide your clients with accounting services.

Firms that provide additional services like retirement and financial planning have always collected 7216 signatures. SurePrep has processed hundreds of thousands of outsourced returns since the 7216 language change in 2014, and our clients have reported little effect. Most firms send the 7216 consent form along with the Engagement Letter and receive a signature without issue.

1. The more detailed and diverse your tax situation, the more specialized the provider should be to ensure all aspects are accurately addressed.
2. It’s standard best practice to verify OCR data for accuracy after scanning tax documents.
3. Implement our API within your platform to provide your clients with accounting services.
4. Streamline your operations, enhance your client services, and grow your firm with SAM.
5. Assess the complexity of your tax situation by examining your sources of income, available deductions, and potential credits.

Full outsourced tax return preparation services

Firms of all sizes understand the hectic and stressful nature of tax season. Outsourcing even a portion of your tax preparation workload can help allowance for doubtful accounts: meaning accounting methods and more make peak season more manageable. Our staff uses the same tax software as your firm, so you can jump right into review as if your own staff prepared the return. When you outsource tax preparation, you free up your team to focus on core business activities. Tasks like document gathering, data entry, and tax filing can be handled by experts, allowing your staff to concentrate on what they do best.

What is the difference between offshore and onshore outsourcing?

We offer top-tier outsourced tax preparation to CPAs, EAs, Accounting and Tax Firms across the USA. We provide year-round and year-end Outsourced Tax Preparation Services to meet your tailored need for accounting and taxation resources. Our highly experienced tax preparers help you achieve high tax benefits without stretching what are miscellaneous expenses out your budget. Our CPA tax preparation services eliminate complexity and resources otherwise get engaged in matching tax details and preparing returns for clients. Aside from consent, cost is the only notable difference between offshore and onshore income tax outsourcing services.

Experienced CPAs and EAs on tap for your sudden or ongoing firm needs.

Many firms make the mistake of overestimating client resistance to 7216 consent and pay extra piece rates and commission payments for their assumption. For most practices, there is no reason not to benefit from the cost savings of outsourcing income tax preparation offshore. Rarely, the 7216 form may prompt a client to request additional clarification about your data security practices. A reputable income tax outsourcing service will have clear and transparent documentation about their security protocols. Some firms keep an onshore option on deck for an additional fee in the unlikely event that a client remains resistant. Conduct a cost-benefit analysis to weigh outsourcing expenses against potential savings and efficiency gains.

When you outsource with us, your firm can breathe a sigh of relief during tax season. Find reputable and experienced tax preparation providers through various methods, such as industry recommendations, online reviews, or professional networks. Use resources like industry associations, forums, and comparison websites to gather information and identify potential candidates. When selecting an outsourcing provider, scrutinize their qualifications and experience. Look for professionals with a proven track record in tax preparation, and check if they have expertise specific to your industry. First, assess the complexity of your tax situation to determine the level of expertise required.

Customs & duties management

This might include regular meetings, email updates, or a shared platform for document exchange. Establishing effective communication practices will ensure smooth collaboration and prompt resolution of any issues. The more detailed and diverse your tax situation, the more specialized the provider should be to ensure all aspects are accurately addressed. Streamline your operations, enhance your client services, and grow your firm with SAM. Ask detailed questions about their encryption practices, data storage solutions, and how they maintain confidentiality to protect against unauthorized access and breaches.

Your business size also plays a role, as smaller companies may need basic services while larger ones require more comprehensive solutions. You can track the status of each outsourced return as SurePrep prepares it. With the time saved by eliminating preparation, you can concentrate on providing other value-added services to your clients. Confirm their measures for data protection, such as encryption and secure storage.