| High Tech Tax Product |
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by Tom C. Davis, CPA Firms can use inexpensive technology tools to increase the value of the tax return product and to reduce the time spent on this service. Our firm offers our clients the opportunity to receive their tax returns in either the traditional paper format or on CD. The information delivered by CD includes the full tax return, the organizer furnished by the client for preparation of the return, any other information retained by the firm as part of its supporting documentation, as well as any other documents related to the return such as projections, research excerpts, etc. This electronic information was created using the firm’s tax application (CCH ProSystem fx), document imaging software (Adobe Acrobat), and a personal scanner (Visioneer Strobe NT). As the various supporting items are handled as part of the tax return preparation process, they are scanned and included in the client’s electronic workpaper container (a paperless approach). When returns are printed, the accountant and client copies are imaged directly from Profx. Government copies are printed, except for those that will be filed electronically (we will be filing more returns electronically for clients this year as clients begin to accept this type of filing over paper). The only paper that will be given to an "electronic" return client will be the Profx transmittal letter, and page 1 and 2 of the return with a signature. We are still working on the electronic signature aspect of this process. The staff formerly tasked with assembling the return creates the client’s return on CD. All needed information for the CD is contained in a single folder in the client's workpaper container. We expect to spend less than 5 minutes on this process. The client gets a high tech, easily to store, and easy-to-access tax return, and the firm greatly reduces the effort needed to assemble and deliver returns.
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