Return delivery and e-signatures with SmartVault

Once a return is done, someone prints it, assembles a copy for the client, mails it or waits for a pickup, then chases the signed authorization so the return can be e-filed. At 20 minutes a return for 300 returns, that's 6,000 minutes, 100 hours a season.

SmartVault is a document management system and client portal for tax and accounting firms. It says it syncs with Lacerte, ProSeries, ProConnect, UltraTax and Drake, so the finished return can go into the client's folder in a branded portal. The client reviews it there and signs online; the Accounting Unlimited plan includes unlimited e-signature. SmartVault describes itself as SOC 2 Type 2 compliant and built for IRS and FTC Safeguards requirements. The preparer still reviews each return with the client and answers questions, as before.

A two-preparer tax office in San Antonio files about 300 individual returns a season and used to print and mail most client copies. It moves delivery and signatures to SmartVault and keeps paper only for clients who ask for it.

About $233£175€208A$336C$329 a month saved, averaged over the year, against a $170£128€152A$245C$240 cost. That's 70 hours a season (100 less 30), about 5.8 hours a month over 12 months, at an assumed $40£30€36A$58C$57 an hour. Accounting Unlimited is $85£64€76A$123C$120 a user a month billed annually with a 2-user minimum, $170£128€152A$245C$240 or $110£83€98A$159C$155 a user billed monthly, $220£165€197A$318C$311.

1. 1Start with Accounting Unlimited if you want e-signature included; on Accounting Pro it's a paid add-on.
2. 2Connect your tax software and check where a finished return lands in the client's folder.
3. 3Before using e-signatures on Form 8879, confirm your process meets the IRS identity verification rules for electronic signatures (IRS Publication 1345); SmartVault's site doesn't say whether it offers knowledge-based authentication.
4. 4Send each finished return with a short message, and keep the review call or meeting for clients who want one.
5. 5Record SmartVault in your written information security plan (IRS Publication 5708) and turn on the strongest sign-in option offered.

• The 2-user minimum means a solo preparer pays for 2 seats, $170£128€152A$245C$240 a month on annual billing.
• If the e-signature process doesn't meet the IRS rules for Form 8879, use a compliant method for the 8879 and SmartVault only for delivery and engagement letters.
• Some clients won't use a portal. Keep a paper route for them, and don't email returns as plain attachments instead.
• Clients may sign without reading. Point them to the figures that changed from last year in your message.