Offshoring Tax Returns Preparation to India

Researchandmarkets.com
We estimate that in 2011, 1.6 million US tax returns will be prepared from India, for $200 million, for a largely 4-month activity. Significantly, Returns preparation is expected to lead the way for a host of other accounting services that can be effectively outsourced to India.Overloaded CPA firms have increasingly been taking to offshoring tax returns preparation to India. The workload in the peak tax season forces CPA firms to employ seasonal tax workers, and let go of other lucrative professional opportunities, which are typically more remunerative. These include advisory services, Sarbanes-Oxley compliance, financial budgeting, MIS reporting, etc. Outsourcing works well to address this situation for CPA firms already challenged by manpower shortages and rising labor costs. more...