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Canopy to Offer Tax Prep Product; Capitalizing on $31B Opportunity

November 19, 2018

LEHI, Utah--(BUSINESS WIRE)--Nov 19, 2018--Canopy, the leading cloud-based practice management platform for tax and accounting professionals, today announced its plans to release its first tax preparation product. This cloud-based tax preparation platform is designed to streamline data collections, accelerate document delivery, and provide best in class IRS e-filing.

“Taxes are complicated, not only for the taxpayer but for accounting professionals too,” explains Kurt Avarell, CEO and founder, Canopy. “Our goal is to provide our customers with an all-in-one, intuitive and easy-to-navigate solution so they can focus on preparing returns with ease and confidence while saving hours per filing.”

In 2017, individuals and businesses filed a combined 245 million tax returns, leading to nearly $31B spent on tax preparation services. “Despite the enormous opportunity, software providers haven’t evolved much in the last decade,” said Avarell. “Most current products are still desktop-based, burdensome and unintuitive.”

Tax Prep integrates with Canopy’s Practice Management, Tax Resolution, Notices, and Transcripts offerings – creating an all-in-one product suite for client tax management. With cloud-based software, professionals can access client data anytime, anywhere and are never inconvenienced with managing servers, updating software, and navigating compatibility issues, which dramatically reduces IT costs and downtime.

With Tax Prep, Canopy customers can:

Easily collaborate through a client portal Send returns to customers electronically Gather e-signatures for common forms e-File directly with the IRS and be notified when returns are accepted

Tax Prep will be available Summer 2019. To learn more visit https://www.canopytax.com/tax-prep.

About Canopy

Canopy is a cloud-based practice management and tax resolution software. The modern, easy-to-use software cuts out tax practice busywork, improves the client experience, and brings all the different tools a practitioner needs under one roof. Canopy is also known for its free IRS Transcripts tool. Canopy was founded by Kurt Avarell, who walked away from his career as a Wall Street tax attorney to launch Canopy from his basement in 2014.

Learn more at www.canopytax.com and @CanopyTax.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181119005203/en/

CONTACT: Jenny Olson

mPR, Inc. for Canopy

310-773-2568 direct

jenny@mpublicrelations.com

KEYWORD: UNITED STATES NORTH AMERICA UTAH

INDUSTRY KEYWORD: TECHNOLOGY INTERNET SOFTWARE PROFESSIONAL SERVICES ACCOUNTING FINANCE

SOURCE: Canopy

Copyright Business Wire 2018.

PUB: 11/19/2018 08:00 AM/DISC: 11/19/2018 08:01 AM

http://www.businesswire.com/news/home/20181119005203/en

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