Tax Technology

Electronic Signatures: A Solution Worth Implementing. – Tax & Accounting Blog

As we head into the 11th hour of tax season, firms are looking for ways to save time in order to get all their work done by April 17th so that they don’t have to extend client returns.

Implementing electronic signatures is one way to do so.

Don’t be one of those firms that are still doing things the old way by mailing tax returns to clients or requiring them to come into the office to review and sign completed forms.  Take advantage of an established technology that has been used by other professions for years; one that is still taking hold within the tax and accounting industry.

Benefits Abound.

Here is just a sampling of the many benefits that electronic signatures provide:

  • Meet and Exceed Client Expectations — Clients are dealing with financial technology all the time and are using portals, document management systems and electronic signatures for many aspects of their daily lives.  It’s now an expectation that the people they do business with are using e-sign technology for official transactions.  They expect their accountant to offer this same convenience as well.
  • Implement Technology That Simplifies Business Operations — E-signature technology helps simplify business processes and will help cement your reputation as a tech‑savvy firm.
  • Take Advantage of Streamlined Electronic Filing — Form 8879 is uniquely integrated into our tax preparation software — CCH ProSystem fx Tax and CCH Axcess Tax — including the electronic filing status system.  Take advantage of a paperless filing process from start to finish!
  • Time and Cost Savings — Practitioners report dramatic savings due to the elimination of the time and expense of mailing and/or faxing paper forms back and forth.  Imagine the possibilities electronic signatures presents.
  • Security – The strictest security protocols are in place to protect clients’ personal information, as well as meet stringent IRS security requirements.

Speed Up e-File Authorizations And Reduce Administrative Costs.

CCH eSign is the first e‑signature solution created especially for IRS Form 8879.  It allows tax professionals to easily and securely take advantage of the cost-effective convenience of e‑signing, and can be used with a number of other documents as well.

Jaynes, Reitmeier, Boyd & Therrell P.C. in Waco, TX has been automating their 1040 processing using CCH eSign for years.  Partners at the firm report that it’s easy to use, and clients tend to sign their 8879 forms more quickly thanks to automated e-mail reminders.  Not only is it an easier process for clients, CCH eSign also helps cut down on the amount of time needed for administrative employees to follow up with clients and submit electronic returns.

Bob Woodard, a shareholder at the firm, reports: “For our clients it is a very smooth process.  Sometimes I’ll initiate the e-mail to the client and I’ll receive the notification that the client has signed the return before I deliver the routing slip to my assistant.  CCH eSign is a pretty cool product.”

Shareholder Dennis Spille relates: “Clients will go in immediately when they get that e-mail and sign the return within hours, if not minutes.  CCH eSign is most beneficial for our administrative staff.  It automatically routes the 8879 e-file authorization back to us, and that is a big improvement over our administrative team telephoning clients multiple times.  It may not seem like much to call one client, but calling 300 clients takes a lot of time.  When we have used CCH eSign, I don’t know of any time where we have had to call a client.”

It’s Never Too Late to Implement Electronic Signatures.

If you don’t want to rock the boat and change your processes over the final weeks of tax season, then consider electronic signatures for the extension season and beyond.

For more information on electronic signatures and Wolters Kluwer’s CCH eSign solution specifically, click here.

To read the Jaynes, Reitmeier, Boyd & Therrell P.C. case study, click here.

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Author: Jack Gallagher

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