Infinity Globus is a leading global accounting company providing Finance and Accounting (F&A) Outsourcing services to accounting firms based in the UK, USA, Canada and Australia. Outsourcing tax activity can be considered as the best way to enhance the efficiency, client service and staff retention for all the CPA firms and tax service provider. The entrepreneur does not need to take all the responsibility and make their life hell. A business owner may be good in planning and decision making but may not necessarily be good enough in accounts, bookkeeping and tax filing activities. We are well versed with all the tax regulation and trading act of the US.

Hire our expert service and get your tax preparation work done for the financial year. Apart from that, you can get our best help with all your accounting and financial requirement. For sure our services will reduce your business responsibility during the busy tax time. When it comes to the availability of highly skilled professionals, India stands out as a superior choice for outsourced tax preparation services. The country is home to over 2.5 million finance and accounting professionals, including a significant number of Chartered Accountants and Certified Public Accountants.

Some service providers may offer representation as a part of their service package, while others may offer it as an additional service that you can opt for. It’s a good idea to confirm with the service provider if they offer representation services in case of an audit and also to find out about their experience and success rate in handling audits. QXAS delivers tax preparation outsourcing services tailored for CPAs, accounting firms, and tax professionals across various sectors. Their expertise is designed to streamline the tax process, ensuring precision and compliance for all client engagements. To outsource tax preparation, begin by identifying reputable tax outsourcing services that align with your firm’s needs.

With us, busy tax seasons are a breeze as we seamlessly manage the background work, allowing you to channel your energy into fostering business growth. 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. In 2014, new Section 7216 language went into effect that required more explicit disclosure.

Tax Services

In an outsourced tax preparation service, a CPA firm hires an external service provider to handle their clients’ tax returns. This can include services such as tax planning, research, and preparation of returns. This is one of the most important yet underestimated benefits of outsourcing tax preparation. During the busy tax season, CPAs put in unimaginable hours to guarantee that their client’s tax returns are filed before the deadline. They fail to notice how it all affects their physical and mental health. Outsourcing helps CPA firms strike the perfect professional and personal balance and cope with tax time stress.

• Next, establish clear communication channels and define your expectations regarding turnaround times and confidentiality.
• Next, the returns are transmitted using ASP/FTP to your firm for review.
• Our service makes you send the tax returns to the client well in advance.
• Tax preparation services are the most sought-after outsourcing services amongst CPA firms in the USA.
• Utilizing Infinity Globus has free our accounting staff of 40 hours of data to focus more on client relationships and development which has been a win-win for our clients & us.

As a result, in the first quarter, because of the prepayment, our labor margins were much higher than a typical year. As expected, our cost of goods sold will start to decrease as the outsourced firm completes about 100 additional returns in the off season. While we have not calculated the full savings yet, we know there will be lower labor costs, even with having a project manager oversee all the tax returns that were outsourced.

What you get with Outsource

We have a dedicated team of tax wizards who deliver exquisite tax preparation outsourcing according to your demands. We are the best outsourcing tax preparation services company that uses modernized technological aid to optimize your experience. 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. QX prides itself on delivering tax return preparation services that are both accurate and timely.

Yes, QXAS’ outsourced tax prep expert team possesses the expertise required for meticulous tax return preparation, encompassing the complexities of international tax issues. They stay current with global tax regulations and are adept at navigating cross-border tax regulations, to ensure precision and compliance in every aspect of tax return processing. Though many people do the task of tax preparation on their own, there are certain things which need a proper professional care. Preparing your own income tax preparation will land you with lots of confusion and several types of unanswered questions. As per some survey near about 77% of 71 million taxpayers in the United States has been seen getting benefited with this professional tax preparer service. You can definitely save money and increase your investment through going with the suggestion of expert tax preparation services.

Outsource is available for firms using these Thomson Reuters solutions

Outsourcing tax prep internationally has been common
practice for many years, but many misconceptions remain. Create additional capacity and reduce the strain high-compression periods place on work-life balance by outsourcing to a dedicated team that understands your processes. This is the responsibility of the business owner to put more effort and time into the business to make it more effective. If you will go with the idea to hire more workforces again this will increase your business overhead. So the best way to manage the things with the existing human resources by deploying them in a more effective way is only possible through outsourcing. Here you can save on paying for HR time spent on recruiting and training.

Security and Discretion

Suppose you haven’t introduced yourself to tax preparation outsourcing before the upcoming tax season. In that case, you might miss out and take up extra work that you don’t need anymore. And as a small business with a goal of getting better returns and lowering expenses, you need to cut down on your ​cost. We’re the go-to Tax Preparers that knows all the nitty-gritty of US tax rules and stays up-to-date with IRS changes. Our pros excel at sorting out individual and business taxes, no matter how complex. While nerve wracking at first because it is the unknown, outsourcing tax services overseas can provide your accounting firm with wonderful opportunities with the right relationship.

The risk for an error usually increases with every form you want to fill. By using our services, you will ultimately improve processes and procedures, without much efforts. This will assist you in having improved relations with creditors and also avoiding penalties due to late or non-payment.

What is the difference between offshore and onshore outsourcing?

It has many things to consider and an expert only can go the activities by complying with all the rules and regulations required to be followed. One of the standout benefits of outsourcing to India lies in the advantageous time zone difference. India is approximately 9 to 12 hours ahead of U.S. time zones, depending on the location.

The training consists of classroom sessions, group discussions, and testing. Staff must periodically complete refresher programs to stay up to date with changing policies and procedures. We set high standards for accuracy and continuously monitor performance. Our US Tax team is proficient on all how should i analyze a company’s financial statements major tax software such as Intuit Pro-Series, CCH, Drake, Intuit Lacerte, Turbo Tax, ATX, Ultra Tax and many more. Since 2008, we have helped numerous CPAs smoothly navigate through the challenging tax seasons especially the 2021 season which has been the most difficult and busiest of all.