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eSignatures for Professionals in the Accounting and Tax Industry

by Uneeb Khan
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The requirement for entrepreneurs and owners of small enterprises to have paperwork that is safe, secure, and legally binding is driving the push toward digitalization. In addition, there is a drive to boost workplace efficiency, as well as an effort to cut down on the amount of paper that is used in offices, all of which are factors that have contributed.

On the other hand, I’m going to use this piece of writing to talk about the rising popularity of electronic tax signing software that makes explicit use of electronic signature solutions. This will be a conversation topic.

Examples of Use Cases are shown Below

The days are long gone when customers had to delay signing their tax documents for a few weeks or even months because they were forced to print, fax, or attend in person to their tax preparer’s office. Those days are a thing of the past. They simply need to do one of these tasks at this point.

The following is a list of some of the documents, including those that are frequently required for tax and accounting purposes, that may be transmitted and signed using free DocuSign competitors:

  • Contracts for the purchase of assets
  • Agreements to maintain confidentiality
  • Employment contracts
    Engagement letters
  • Independent contractor agreements
  • Formation of an LLC
  • Using IRS Forms 8878 and 8879
  • Agreements on the continuation of practices
  • Contracts granting power of attorney

Using an E-Signature Solution: A Few Tips

Before 2014, the Forms 8878 and 8879, which enable an Electronic Return Originator (ERO) to e-file tax returns to the IRS, could only be signed using a pen and paper. However, the IRS has since allowed electronic signatures on these forms. After that year, digital signatures were allowed to replace handwritten ones.

The Internal Revenue Service (IRS) issued new guidelines in March 2014 that made it possible for people to sign papers online. This facilitated the simplification of the process of electronically submitting tax returns for both individual taxpayers and tax professionals.

However, when it comes to employing electronic signatures for customers, accountants and other tax experts are required to adhere to a select few criteria. First and foremost, businesses need to make sure that the document signing software they choose is reliable and secure, and that it conforms with all of the IRS mandates for eSignatures. These mandates include the following items:

– Determining the identity of the individual who signed the paper;

– Protecting the confidentiality of data stored in electronic form;

– Producing a digital paper trail that includes the taxpayer’s computer login identifier and IP address, in addition to an audit trail that reflects the completion of the procedure by the signer; this step is essential.

The Benefits of eSignatures for Tax and Accounting Professionals

When it comes to filling out and signing tax forms, employing software that allows for electronic signatures online has a number of advantages, some of which are listed below:

Customers get Refunds Faster

The Internal Revenue Service (IRS) receives an excessive quantity of tax returns annually; consequently, beginning in 2018, they have begun to accept electronic signatures on official tax papers and tax returns, which speeds up the process of issuing refunds. This change was made due to the fact that the IRS receives an excessive quantity of tax returns annually.

No More Lost Documents!

Your extensive collection of digitally signed data can be safely stored in a single, convenient location. When you utilize software that supports electronic signatures, also known as digital signatures. There is no longer any need to worry about losing physical copies.

Spend less Time and Money

You will be able to complete the process of preparing and submitting your tax form in a matter of minutes. You won’t have to go to any great lengths to meet with your consumers, and you won’t have to hang around for any paperwork either. There is no need to print anything, sign it, scan it, and then send it back.

Client Data Storage

Competitors of Free DocuSign place a significant amount of importance on the level of security they offer to clients. They are confident in your ability to maintain the privacy of their sensitive personal information and put their full trust in you to do so. In addition to this, clients do not want peace of mind concerning the security of their documents. mainly due to the fact that they are all kept in the most reliable data centers.

Conclusion

Tax preparers have the opportunity to digitally sign and submit tax documents in a manner that is secured and secure thanks to this feature. By way of the cloud, utilizing SSL (Secure Sockets Layer) technology for the purpose of data encryption.

This lays the path for tax professionals to comfortably migrate into the digital environment and opens up new opportunities for them. It carries with it their customs and traditions.

Are you prepared to adopt a solution that involves electronic signatures in order to make the forthcoming tax season easier to manage? Get started right now with a free, no-obligation trial of an electronic signature service provided by one of DocuSign’s rivals.

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