Outsourcing Tax Processing and Tax Preparation Services to India

The tax processing outsourcing business has dramatically changed and expanded beyond the client to tax preparers and now, to back-office outsource processing. 

Why outsource tax preparation and tax processing services?

As mainland tax service costs increase, more and more accountants and companies are opting to outsource tax preparation services to help minimize operating costs and maximize efficiency and profits. 

To meet this market demand, we at outsource2india provide customized tax preparation and tax processing services by using the best industry tax software like Drakes Lacerte, Turbo Tax, Ultra Tax or any tax software of your choice.  At Outsource2india, we subscribe to online Finance and Accounting journals, in order to know the latest trends and changes in the Financial industry.

Why outsource your tax processing and tax preparation services to Outsource2india?

Our tax preparation and tax processing service methodology provides CPAs and Tax service providers of almost any size with a great new way of handling their tax compliance workload and meeting filing timing deadlines.

This cost-effective solution utilizes secure FTP technology, to move source document information from customers to our tax processing facilities in India.

This way, we handle the tax processing and tax preparation services of a tax department while you focus on improving your client relationship. We have considerable experience in US tax preparation and reporting. We use top of the line tax software and technology, such as, Intuit's Lacerte, Creative Solutions' Ultra-Tax, Intuit’s ProSeries, ATX and Drake.

Our streamlined training procedure ensures that our people are updated with the latest technology, software and workflow processes to enhance on-the-job efficiency for tax processing. We subscribe to online financial journals to stay abreast of the latest trends in global sourcing, Finance and Accounting Outsourcing (FAO), and best practices in global business. Our tie-ups with reputed CPAs abroad help to keep our finger on the pulse of global finance, what’s on and what’s coming, and sensitizes us to the special needs of international companies.

Our team of tax experts can also help you with quarterly tax filing services. Get in touch with us today for expert tax preparation services.

Read more about the advantages of outsourcing Financial Services to Outsource2india.

O2I's tax preparation services

What tax processing services do we offer?

We offer tax preparation services for the following:

Form 1040 - For individuals.

Form 1065 - For Partnerships.

Form 1120 - For companies and Corporations.

We have experience in both individual tax preparation services and business tax preparation services.

We will examine your balance sheets, interpret and classify each item on it. We will also classify and interpret P/L items, and interpret the taxability and treatment of various accounts. We can also provide sales tax liability services. Read about Outsourcing Taxation Services to Outsource2india.

We also provide tax preparation services for federal and state tax returns, as follows

FEDERAL

• Individual Income Taxes
• ‘C' Corporation Income Taxes
• ‘S' Corporation Income Taxes
• Partnership Income Taxes
• Fiduciary Income Taxes
• Non-Profit Corporation Taxes
• Heavy Equipment Use Taxes

STATE

• Individual Income Taxes (for all states)
• Corporation Income Taxes
• Partnership Income Taxes
• Intangible Taxes
• Tangible Taxes
• Charter/Franchise Taxes

How does this tax preparation and tax processing outsourced process work?

1. It starts with sending us scanned documents. We will supply you with our standard format to send the relevant and required data either in the form of pdf files, mdi or e fax messenger.

Once the tax information images are received, trained tax professionals at our offshore processing facility will data enter the information into our tax software or the tax software of your choice.

2. After data entry, the tax return is audited to verify that all the information received has been correctly entered and accounted for.

3. Next, the returns are transmitted using the ASP/FTP to your firm for review. You'll receive complete returns, including any questions or comments the preparer thought necessary. 

3. Once you have the return, your firm can review and finalize, plus add or delete any information as is necessary. We can then update the tax file and send you a final copy for filing. 

What are the cost benefits of outsourcing tax processing services and tax preparation services?

Tax Returns prepared by us will cost up to 60% less than the average tax preparation cost currently incurred by a mainland firm. 

This reduction in cost will not only ensure increased profit margins, but will provide a significant marketing advantage for acquiring new customers. By outsourcing tax preparation services to India, you can save on costs and increase your profits.

What quality management processes are followed while outsourcing tax processing services and tax preparation services?

Quality at outsource2india is a key virtue as the metrics involved in measuring it are more to do with human capabilities of discerning a given piece of information. Our organization has institutionalized the fabric of QMS in its corporate culture. In the process of advocating a proactive QMS, the following phases are involved:

1. Defining Quality, Quality policy, Quality assurance etc
2. Analyzing/ identifying and defining the attributes which are Critical to quality
3. Defining Defect, opportunity and scenario ( CTQ linked)
4. Laying down the quality initiatives to be taken
5. Description of how the Quality Policy laid down is expected to travel along the process chain.
6. Laying down the reporting requirements of a QMS. (adherence reports, exception reports)

A quantifiable benchmark enables problems to be pinpointed and can assist in identifying ways and means of improving the process. It also encourages adoption of best practices in relationships with customers, suppliers and employees. Processes, products and organizational structure are geared towards ensuring that every delivery to the customers passes through our stringent quality measures.

Advantages of stringent quality measurement processes

• Customers benefit as a result of fewer defects, reduction in turnaround time and improved delivery capabilities. These provide value-additions through improvement in the performance of the systems that have been outsourced, a reduction in the problems and failures, and improved stability.
• This results in high levels of customer satisfaction and repeat business from them. Implementing the processes trains both the organization and people to be methodical and process-driven.
• Introduction of best-of-breed industry practices and standards thereby improves delivery capability.
• Focus on quality leads to lower costs and improved efficiency within the organization.
• A well-coordinated workforce management ensures low overheads and quick ramp up of a flexible team size that can meet tight deadlines.
• Periodic training and upgrading of employee skills ensures state-of-the-art solutions as well as employee retention.

Please contact us here with your outsourcing requirements.

Find out how outsourcing financial reporting services to Outsource2india can help you take informed decisions about your future.

Read more about outsourcing VAT return services to O2I.

Please contact us for further information about O2I's Tax Processing & Preparation Services with Pricing details.

O2I’s Financial Services

Accounting and Finance Services: Outsource Write-Up, Bookkeeping Services , Accounts Payable, Accounts Receivable, Financial Reporting and Accounts Reconciliation services to O2I for proficient and cost-effective services.

Tax Preparation Services: Outsource Tax Return Processing and Tax Preparation services to O2I and benefit from maximized efficiency and profits. Give your business a competitive edge with our efficient services.

Financial Analysis Services: Outsource Financial Analysis services to O2I for accurate, reliable and competent services delivered within a fast turnaround time. Improve the financial health of your organization with our professional services.

Payroll Processing Services: Outsource Payroll Processing services to O2I to reduce your operational costs by 40-50%. Relieve your organization from mundane administrative tasks. Outsource to O2I and concentrate more on your core business.

Insurance Services: Outsource Life Insurance, Property and Casualty, Annuity Insurance, Insurance Policy Administration, Insurance Agency Management, Insurance Claims Administration and Insurance Data services for increased profits.

Outsourcing to India: Discover Why India is an ideal place to outsource to, Read more on Why Outsourcing has become necessary and find out more on What services can be outsourced to India.