What you are about to read is the blue print, the design plan, the flight procedure, or the tax return process as we tax accountants call it. This will describe how we go from our initial consultation to a tax return in your electronic or physical hands. After you are done reading this you will know what to expect along this fun-filled journey.
Here are To-Do items if you are a new client, a client transitioning from our old SmartVault system to Onvio, or if you haven’t given us your signed engagement letter yet:
- Register with Onvio
- Complete New Client Form and upload to Onvio
- Sign and upload your engagement letter – this is going to happen every year
Side Note from our Client Onboarding Email (Skip this paragraph if you know what Onvio is): Now you’re thinking “I don’t have an Onvio account, I don’t even know what Onvio is. Onvio sounds like a magic spell from Harry Potter.” Granted, we didn’t come up with the name Onvio – Thompson Reuters did. We use Onvio for our document portal interchange. In simple terms: Onvio will be used for you to send us documents securely and for us to send you documents back. No mailing or physical copies needed! We pride ourselves with being on top of technology, “on fleek” as the millennials say. Onvio will also be used to facilitate tax organizers (or “Tax Questionnaire”) that allow us to prepare your tax returns more accurately; so, put “Tax Questionnaire” on your email radar when tax season comes. We make this process easy and simple. Speaking of simplicity, we recommend downloading the Onvio Documents App to your phone/tablet to quickly take a picture of your signed Engagement Letter (and other documents) and instantly upload it to us.
Come tax season (it may be in the middle of tax season right now) you’re going to get a “Tax Questionnaire” section in Onvio for you to complete. Filling out the Tax Questionnaire is completely optional but when you get a notice from the IRS saying you didn’t report income because you forgot to give us a form, we will gently remind you to fill out the Tax Questionnaire next time to help prevent situations like that again. Once you have filled out the Tax Questionnaire you will upload all the necessary tax documents to Onvio and our tax admin will compile the documents who will then mark your return ready for the preparer.
Maybe you’re old school and you don’t want to deal with time saving technology. You certainly can give us physical tax documents, we’ll just add on a scanning and processing fee. Pro Tip: We need all of the necessary information and documents for the preparer to start the return so the sooner you get us all your documents the sooner we finish your return. Let’s repeat some of that. The preparer starts preparing the return when all necessary information is in. Got it? Good. Another policy you need to remember – We have dates listed on the engagement letter that will tell you if we don’t get all of your information by a certain date then we will need to file an extension. If you give us your information the day of the automatic extension date but we are missing one piece of information, sorry, but we will still need to file an extension. We may end up completing your return by the due date but we cannot guarantee that. We can only guarantee your return will be finished by the due date if we have all your information in by the automatic extension date.
Our preparer will then prepare the return and if there are any follow up questions for you then we will send you an email for an answer or a document request through Onvio. If we end up doing a little dance with you by repeatedly asking you for information and you don’t respond, then we will add a fee for that extra administrative time. It takes two to tango, just let us lead the way.
We are getting to the home stretch now. After everything is squared away with the preparer the return is then reviewed by the reviewer. When we know the return is reviewed, we share the return with you for you to look over it. You give us the A-OK and we give you an 8879 to sign and an invoice for you to pay. Once we get the signed 8879 and our money then we E-File the return and send you a copy of your return through Onvio. If you desire a paper copy then you will have to notify us ahead of time. And there you have it, our Tax Return Process. We make it as painless for you as possible and use technology every step of the way. We hope we set your expectations where they need to be.