RIA, the publisher of GoSystem Tax RS, a Web based tax compliance software for tax professionals, has formed a strategic alliance with G.K. Management Services (India) Pvt Limited (GKM) to provide outsourcing services for tax professionals.
Because of high labor costs and staffing challenges facing CPA firms during tax season, outsourcing U.S. tax returns to tax preparation services in India has been a growing trend for a number of years. U.S. tax preparers can send taxpayer information electronically to professionally trained CPAs in India for a fraction of the cost of labor they would incur locally.
In establishing a strategic relationship with GKM, RIA is enabling its customers to manage an outsourcing relationship through a common software platform.
The GKM Web site boats "a dedicated team with over 100 man years of experience comprising Chartered Accountants, Certified Public Accountants, MBA's and Cost Accountants."
According to the RIA press release regarding the new relationship, firms who use GKM's services can expect tax returns to be turned around much faster and will save CPA firms approximately 40 to 60 percent of what they would spend domestically with an outside firm.