Feature Update: New Transcripts Experience
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The IRS is permanently deprecating many transcript-pulling tools. But Canopy was selected to partner in their new API transcript process.
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We all know how critical security has become. It’s super important to our clients and just as important to the health of our firms. Nothing can be more devastating than finding out your clients’ private information was somehow leaked or hacked. Several years ago, the IRS recognized that they needed to update and modernize their IT systems to improve security as well as make everything more user friendly. Now, as part of that multi-year plan, the IRS has developed its first API for transcript retrieval.
Canopy was selected as one of just a handful of companies to be an official IRS partner in their new API transcript process. In conjunction with this development, Canopy has released a new Transcripts Tool. This tool allows you to instantly pull transcripts in a clean, easy-to-read format, complete with actionable recommendations.
“Canopy has been closely collaborating with the IRS for years through feedback sessions, testing, and more to help improve their systems and provide a better experience in the tax ecosystem,” said Larry Furr, Chief Product Officer, Canopy. “We are honored to have been involved in this update and are thrilled to be able to provide our clients with the most up to date technology available for accountants. Canopy’s new Transcript Tool will continue to work seamlessly through this IRS transition period.”
There’s snail mail, the IRS website, and then there’s Canopy. Once you have established access to client records via a Form 8821 or Power of Attorney, you can handle transcripts entirely electronically with Canopy, from pulling transcripts to submission with Canopy's e-sign capabilities.
Whether you want to use transcripts as a tool to vet potential clients, or to provide first-class service when clients receive notices, Canopy eliminates the pain point of pulling transcripts. While other third-party electronic transcript tools have previously been available, going forward only tools approved to access a new IRS API will be able to pull transcripts online via a third-party platform.
Perhaps the way you are used to pulling transcripts is no longer working. Or maybe you just want to make the whole process better. Either way, it's time to take a look at Canopy. Plus...spoiler alert!...our team is deep into additional developments to make this tool even better. Stay tuned for info on those upgrades.
To learn more about how to use Canopy’s new Transcript Tool, click here.
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Canopy takes the headaches out of client management by offering a way to keep client info organized.
I love how easy it is to setup a new client in this software. Once set up, it's one click to get IRS transcripts downloaded for my review. This saves me at least an hour each week in comparison to the software I used to use.
This makes workflow for tax resolution manageable. This business is a bunch of hurry up and wait. This system helps to refresh my memory while transitioning to different clients.
The ability to securely share documents with clients as well as complete POAs from client contact data already in Canopy. The ability to route workflow between team members with color coded statuses allows us to work efficiently.
Cool features, outstanding customer service, constantly updating to make it better. I love that I can upload files easily to a secure client portal and we don't have to email files anymore. Absolutely can't imagine not having this software.
It's safe and secure. Clients are able to upload documents and the documents are saved their portal which as a result, keeps us better organized. The task feature keeps us organized and we know exactly the status of each client.
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