TaxAct Partners with Taxaroo for Practice Management

TaxAct has entered a strategic partnership with Taxaroo, a provider of innovative practice management solutions, to offer tax professionals the tools they need to streamline workflows, strengthen client relationships, and grow their practices ahead of the next tax-filing season.

Taxaroo’s customizable features will be available to tax professionals to complement TaxAct’s suite of TaxAct Professional products, which provide scalable software and e-filing options for tax practices of all sizes.

“Our partnership with Taxaroo enhances our product suite with scalable information collection, document storage, e-signature, and invoicing and payment functionalities that automate the core steps of the tax preparation process for TaxAct Professional users,” said Sanjay Baskaran, President of TaxAct. “In addition to potentially cutting the time these professionals spend on tax preparation in half, we can also provide them with access to a modern, intuitive interface where they and their clients can work smarter together. These powerful solutions can optimize tax management practices—enabling them to become more profitable, productive, and efficient.”

The Taxaroo practice management platform (https://www.taxaroo.com/pricing/taxact) consists of cutting-edge tools designed to help tax professionals increase productivity, elevate their brand, work from anywhere, and be effective advisors:

Client Organizers that Automate & Simplify: Tax professionals can create customized organizers which automate the collection of client information for each type of engagement, from individual tax returns to corporate bookkeeping. These organizers enable clients to submit information on their own, and also automate progress notifications, helping practice teams keep track of client data that has been, or needs to be, submitted. Taxaroo’s automation of client organizers, document collection, and progress notifications has reduced the time tax professionals and their teams spend on gathering information by up to 50 percent.

Professional Invoicing & Electronic Payments: Tax professionals can electronically send professional invoices directly to customers, and receive customer payments directly in their practice bank accounts. Taxaroo protects practice teams’ work by requiring customers to make payments before they can view their tax returns, and also supports both credit and debit card payments, making it easier for customers to pay.

IRS-Compliant Electronic Signatures: Taxaroo has developed an e-signature functionality which is compliant with IRS Publication 1345 standards. This feature allows customers to submit data, review tax returns, and sign them at any time, and from any location—further streamlining client workflows across tax organizations.

Robust Performance Analytics: Taxaroo allows tax professionals to seamlessly track revenue, workflows, and team and individual productivity across their practices, as well as securely and discreetly record customer feedback. The in-depth insights from these performance analytics tools help tax professionals allocate resources in ways that enable them to effectively service more clients—and meet clients’ individual needs—over the long term. Customers can seamlessly leave feedback after completing all parts of the tax preparation process, which tax professionals can privately view and assess. Tax professionals can also reach out to customers to discuss their feedback in more detail.

Secure Document Vault: Taxaroo offers an integrated document portal equipped with bank-grade 256-bit AES encryption, which allows tax professionals to share and collaborate on any type of document with customers. The vault has unlimited storage, making it simple for tax professionals and clients to securely upload, archive, and access documents.

“Our strategic partnership enables TaxAct Professionals to better serve their clients by using a modern set of capabilities that streamline the end-to-end tax preparation process,” said Brian Liebert, CPA, Co-Founder and CEO of Taxaroo. “The combination of our software creates the next-generation practice management solution that tax professionals have wanted for a long time. We look forward to continuing to work with TaxAct to modernize tax preparation, and deliver business and client insights that position tax management firms to reach their long-term goals.”