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To outsource tax return preparation is to engage a professional accountant or tax service company to prepare and file an individual tax or business tax return. This is time-saving, less stressful, and more accurate because it involves the use of certified tax professionals who have a knowledge of the complicated tax laws and regulations. Tax return preparation is one of the areas that many companies outsource to enhance efficiency and limit the number of errors that may attract audit or other punitive measures. Through out sourcing, companies are also assured of safe data processing, updated programmes and professional advice on deductions, credits, and taxation saving mechanisms.
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Outsourcing tax preparation means hiring an external firm to handle the process of completing and filing tax returns on a company behalf.
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