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Professional Tax software is designed for tax professionals like CPAs, enrolled agents, and tax attorneys who prepare and file tax return for their clients. They have advanced features, support most of tax forms and worksheets needed for wide variety of tax returns. Professional tax software can be used to prepare and e-file tax return for individuals, business, corporate, partnership, estate taxes. etc. Most of the professional tax software supports all state and city tax return forms and e-filing. They are licensed to e-file multiple tax returns.
Tax preparation and e-filing is only one feature required in a professional tax software. A successful software provide capabilities to manage client contact details, client tax documents, etc. A contact manager or module integrated with the tax software will make life easy for tax professionals to keep track of their customers. Many professional tax software provide contact manager as part of the software or as additional module which can be purchased separately.
Tax professionals normally keep a copy of their clients tax return and many professionals use document management systems to do the same electronically. They will love a tax software which provide document management capabilities. If it does not provide these features out of the box, at least the capability to integrate industry leading document management and contact management software is needed in a good professional tax software.
Many professional tax software allow you to import tax data from their competitor products. Some of these companies may do the data conversion free of charge or provide free data migration tools. Another useful feature in professional tax software is to import client tax data from popular personal finance applications like MSN Money and Quicken.
Professional tax software allow easy integration with third party banking products, so that professionals can cross sell more services like Rapid Refund Loans. Also quick access to IRS Tax Forms and Publications is a must for professionals.
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