Tax season was almost around the corner a few months ago. Forms 8878 and 8879 can now be signed electronically using an electronic tax signing software. E-signature apps have remained popular with tax accountants and advisors for the past six years.
Aside from increasing the risk of errors, those who rely on paper-bound and manual documentation are also squandering their time. Manual documentation costs more than the online handwritten electronic signature form provided by the IRS. Because of the inconvenience it causes both your customers and your employees as well as yourself.
We’ll now go over some of the issues you may encounter if you use paper-based tax procedures.
Customers have higher expectations now than they ever have in the past.
The vast majority of customers are comfortable using mobile devices and apps. According to a survey, 83% of tax accountants say their clients are more knowledgeable today than they were five years ago. It is expected that they will file their tax returns on schedule. To save time, they don’t wish to file their taxes in the traditional way.
Customers are encouraged to pay flat prices for their services because they believe this is the most efficient method of billing. Accountants will require an electronic signature app in order to meet the demands of their clients.
Privacy and Security
Customers’ private information must be safeguarded against theft and forgery. Sending tax forms through email, fax, or courier might be dangerous. A digital signature is highly recommended by accounting experts in order to prevent any type of fraud, scam, or forgery. Through several authentication and identification methods, you can feel more safe.
The response time is the most important issue for clients. Clients must be clear about what they expect in order to reduce turnaround time. When it comes to this whole procedure, a realistic turnaround time is essential. Administration of a contract
As a result of electronic signature apps, you may sign papers faster and more securely. In addition to eliminating errors and enhancing security, electronic signature apps can simplify complex forms.
Management of Contracts
Using electronic signatures makes it easier for businesses to agree on terms and conditions for offering services to customers. Signing and transmitting the contract electronically may be tracked in real-time using digital platforms like free online fax solutions. Traditional paper-bound paperwork takes a long time to complete. Engagement letters are one of the best ways for accountants to reshape their workflow. To make the contract legally binding, you can add signature in Word, PDF, Google Docs and so on as well.
The Advantages of Using a Digital Signature
Since the SEC and IRS have already approved digital signatures, any business can use them. Some of the most well-known accounting companies have implemented this technology to improve the submission and reporting procedure for tax returns.
In our discussion of important advantages, we’ve touched on a few of these advantages.
- It is possible for your firm to run more efficiently.
- We can streamline every single legally binding client agreement.
- Using a digital signature helps to eliminate the need for paper-based records and human processing altogether.
- You can shorten the time it takes to file your taxes.
- Every aspect of a company’s operations has the potential for failure.
- By automating and tracking compliance, you may boost client engagement. It’s possible for clients to keep tabs on the progress of their tax returns.
- Using an e-signature tool, administrative employees may work more efficiently and effectively.