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eSign – the Beginning of Tax Transformation

By August 27, 2019 September 5th, 2019 No Comments
esign The rate at which technology alters our lives is accelerating, even in areas that are notoriously resistant to change. Taxes for example are not traditionally thought of as a cutting-edge field, but tech is beginning to transform the workflows and client interaction of the tax preparation and delivery process. Take for instance the HMRC’s Making Tax Digital initiative in the UK which mandates digital returns as of April 2019 for VAT businesses. Operations are being digitized and streamlined, and once it hits the mainstream – if you are an accounting firm that has not kept up, you are perceived as a laggard, or stagnant. The promise of tax returns that function as responsively as we expect every other aspect of our personal and professional lives is feasible now more than ever before. At SafeSend Returns, we’re happy to be a tax return vanguard with our esign and automation solutions.

eSign Paves the Way for a New Tax Process

When it comes to tax legislation, policy changes earn all the headlines. The Tax Cuts and Jobs Act of 2017 was a news item for years, and with good reason. CPAs were all of a sudden the most popular person at a party with everyone wanting to know how the latest tax reform would impact their annual returns. When tax brackets change, it affects nearly every American of taxpaying age. These are the sorts of seismic modifications that garner attention from people outside of the accounting profession, but strangely enough, they don’t have such a huge impact on those within it. Of course, tax brackets greatly inform the way accountants advise their clients, but they have very little effect on the way taxes are prepared, executed, and delivered. However, there is a piece of tax legislation that has forever improved those processes. That bill, the Electronic Signatures in Global and National Commerce (ESIGN) Act of 2000, is the catalyst for our current tax environment and an essential part of an incalculable number of business transactions. Without it, every electronic signature signed and delivered would be subject to scrutiny.  

The Journey to Paperless and Cloud

Once the ESIGN Act was put into law, developers had the legal latitude to begin to create tax software that didn’t require mailing documents to acquire signatures. For clients, that meant an easier way to manage their tax processes. For accounting firms, it saved precious time and allowed them to better schedule their workflows at the busiest time of the year. When it comes to the assembly and delivery of tax returns, SafeSend Returns is the standout software option. It completely automates the tax return process without the need to send one sheet of paper. It’s easy for clients to use, guiding them through what’s required in order to complete their return. Firms using SafeSend Returns can rest easy knowing they won’t need to scramble when the mail gets delayed. They also save $40 on every return prepared, which is a significant savings for those firms doing hundreds if not thousands of returns per year. Today, users can sign and verify documents on any device, from anywhere and at any time. Which is really what we have been trained to do in all other aspects of our lives – so why not with taxes? If the past involved waiting for a person to physically see and sign documents, with frustratingly slow delivery on both sides, today we usher in a time of innovation that enables convenience and efficiency.

Tax Transformation

As SafeSend Returns continues to develop partnerships with top solution developers like TaxCaddy and more, tax preparers can foresee a future where taxes mirror the technological advancements in every other arena of modern life, rather than playing catch up. That’s a future we’re excited to see. Join us this November at the Tax Transformation Summit and join the Tax Revolution.

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