Doing taxes is always a dreadful job because there are so many different calculations and rules need to be taken care of. Even for professional, tax preparation services are a pretty daunting task to prepare the returns of every client with utmost perfection.

However, with the digitalization of accounting services, there is an array of software and apps available in the market that can help out CPAs in the preparation of taxes. Additionally, taxpayers and tax authorities prefer digital methods of tax filing as well. It has been estimated by IRS that 127,939,000 tax returns for the 2018 tax year were e-filed and 56,214,000 taxpayers e-filed their federal tax returns in May 2019.

It is becoming essential for CPA firms and outsourced tax preparation companies to acquire the latest tax software before the rush of tax season 2020.

1. ProSeries Professional Software

This pro tax software will make you super-efficient this tax season as it will let you import data from QuickBooks and Quicken. It comes along with the option to import income data of investments from different monetary authorities as well. The salient features of this pro software are –

• Can effortlessly scan tax forms for importing data
• Built-in utility feature for better scheduling
• It is collaborative software which can be linked with e-wallets like Smart-Vault
• Highly secured software with digital signatures
• Dynamic customer support

2. TurboTax

TurboTax is designed by Intuit and holds the status of the most popular tax software for CPA tax preparation services. The reason behind the popularity of the software is the strong command over small things related to tax and provides a brief explanation for the assistance of the user. The other popular features of TurboTax are –

• It has strong compatibility with past filings
• Simple question and answer format make it easy to use
• Unlimited support from the online chat room where tax experts are ready to help you
• The software helps in finding tax deductions
• User-friendly interface

3. Lacerte Software

This software is also developed by Intuit in 1998. The process of data management is quickened with the simple worksheet-based interface of Lacerte Software. This software also contains data import shortcuts, tools, extensive on-screen help and some of the following awesome features –

• Data will be imported after downloading Schedule D and Forms W-1
• Easy on-screen help by pressing the F1 key
• Access to online knowledge through the search box
• Fully integrated with QuickBooks
• Exchange wizards
• Automatically organized
• An array of practice management offline tools for software integration

4. H&R Block Tax

It is a nice software when you want to learn the methods to deal with your taxes or you want a lesson on e-filing. This is a primary tax software with plenty of features like an in-office visit, credit card experts and –

• Interactive user interface
• Question and answer format to hide the real tax documents
• User can get plenty of online help from expert chat rooms
• Real-world appointment with professionals for extensive help
• Keep a tab on the changing state tax rules

5. UltraTax CS Software

It is a tax program founded in 2008 to provide full fledge professional guidance to the taxpayers. This software comes with extensive diagnostic on-screen access to a wide range of tax references and helping articles with shortcut keys. Ultra-Tax CS Software is integrated with Accounting CS and other accounting software along with few additional features –

• Quick access to on-screen reference material and help
• Simple diagnosis for multiple errors
• Comes with shortcut key support
• Have an eccentric customer support
• Fully integrated software

6. eSmart Tax Software

Every tax preparation service provider is looking for the simple to use and cost-effective solution for their business and eSmart is the software that offers everything. Liberty Tax has founded this simple platform to prepare tax reports with multiple features such as –

• Easy to navigate deductions to save your income
• Saves lots of time
• List of all the latest tax-related information for the ease of CPA
• Helpful user instruction articles
• Swift online support

7. Tax Act

TaxAct is a real-time program that will walk you through your different life events in the past year and then guide you on how you can impact your state and income tax. The program will give you the appropriate information that you required to file tax from the different apps and offers –

• Highly simple app
• Question and answer format
• Keen eye on your life events to propose correct tax-related information
• Strong customer support

8. Tax Slayer

It is yet another tax program option for CPA companies who want affordable yet feature-loaded software. CPAs can save up lots of money on downloading this software. The software has a simple, clean interface that turns your tax forms into basic digital information fill-outs, removing the confusion from tracking your tax documentation and some other features -

• It is trusted by tax professionals
• Have a general layout to file taxes
• Guide Me option to make things easier
• Navigating through forms is simple
• Chat and phone support for quick help

9. Credit Karma

If you like to switch from TurboTax or H&R Block, then Credit Karma will be a good option for you. It is a highly useful free option with which you can save up lots of money and file some complex returns simply as –

• It is a questionnaire style software
• Simple yet comprehensive software
• Comes with 24*7 customer chat support
• Mobile-friendly interface
• Helps in creating management reports as well

10. Drake Software

Drake Software is a complete package for the accountants to prepare complexed tax returns with extra ease. It is a great tax program with the on-screen diagnostics access to sort problems on users along with –

• Can prepare any kind of tax return
• Simple keyboard shortcuts
• On the spot help
• Amazing customer support

Conclusion

CPAs and accounting firms need to get hold of the latest tax preparation services software before the burden of tax season 2020. As we have figured from the above 10 tax software suggestions that these softwares perform so many different roles and reduce some of the burdens of taxpayers and accountants.

CapActix being one of the best-outsourced tax preparation service providers have trained staff to help you with busy tax season so to inquire more about our tax preparation services, contact us at email - biz@capactix.com or call on +1 201-778-0509 without any hesitation.

Author's Bio: 

Aniket is working in Capactix Business Solutions – An Accounting Outsourcing Company – as manager. He is an expert in tax preparations for the USA. He also has experience in virtual bookkeeping for CPA firms.