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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: David Jones who wrote (33270)6/12/2005 7:24:15 PM
From: tsigprofitRead Replies (1) of 306849
 
Outsourcing Tax Return Preparation and Its Implications

By Jay A. Soled

MARCH 2005 - The trend of outsourcing preparation of income tax returns overseas, particularly to India, began about five years ago and shows no signs of abating. Its popularity has grown as tax practitioners have come to appreciate its advantages.

The reason for this growing trend is threefold. First, there is an economic basis. Outsourced tax returns can be prepared in an cost-efficient manner by a highly skilled workforce. Moreover, outsourcing obviates the need for U.S. accounting firms to hire temporary staff during the busy tax season months of February, March, and April, and pay concomitant expenses (e.g., health-care costs and unemployment insurance). Although U.S. accounting firms’ experiences have varied, many have enjoyed tremendous labor-cost savings, often 50% or more per return.

nysscpa.org
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