Outsourcing is occurring throughout the business community in a variety of ways. Within the CPA profession, outsourcing of tax return preparation by third party service providers in India, is most prominent.

If you are outsourcing tax preparation, depending upon your requirements, Interactive World selects the service provider to handle the processing functions of a tax department while your firm focuses on improving its client relationship. With our experienced tax and technology implementation teams conducting diagnostics, clients are assured a seamless and secure integration into their existing environment.

Outsourcing Tax Preparation Process

Your firm who has the client relationship, collects relevant documentation and other information from the client, as has been customary. This information is converted into an electronic format (data digitization), usually by scanning. The electronic information is transmitted to the Interactive World's selected outsourcing service provider via the Internet, using various security measures such as encryption. 

Outsourcing services provider then uses the transmitted information to prepare preliminary work product, typically federal, state, and local income tax filings or general ledger accounting, using commercially available software or software as desired by your firm. The completed tax preparation or general ledger files are transmitted from the outsourcing service provider to your firm. 

Your firm receives complete returns, annotated with any questions or comments the preparer thought necessary. Upon receiving the return, you can review the product, add or delete as necessary, and then sign and forward to your clients. You also have the option of obtaining your work papers in a digitized form for convenient filing and access.