IRS Approves Electronic Signature for Key Payroll Form
Based on Publication 1474 published by the IRS on January 4, 2014, it is now legal for any Intuit® payroll customer to sign Form 8655 electronically, thereby eliminating the need to print the form, sign using a pen and then fax back to Intuit.
Publication 1474 allows any reporting agent collecting Form 8655 to do so using electronic signature. The decision to allow the electronic signature was based on the IRS’ experience in working with Intuit and several other payroll providers on individual electronic signature pilot tests. Electronic signature is an easy-to-use functionality which simplifies the process of getting a document signed by guiding the user through a step-by-step process of completing and signing the document. The electronic signatures process is provided in partnership with Adobe EchoSign .
“This was a very long journey for Intuit that began more than four years ago when we first experimented with electronic signature for Intuit Assisted Payroll,” said Matt Gotchy, senior product manager for Intuit Full Service Payroll. “Today, I am ecstatic to report that we now have an electronic signature success rate of 91% – our highest rate ever. In Full Service Payroll, we’ve found that customers who electronically sign their legal documents reach first billing 28% more often.”
“We are very excited to see our collaboration with Intuit for enabling electronic signatures for Reporting Agent Forms achieving a significant milestone and getting approved by the IRS,” said Mangesh Bhandarkar, Director of Product Management for Adobe EchoSign. “Through the simplicity of the EchoSign electronic signature process and working closely with Intuit to streamline the user experience we were able to reduce errors, attain high completion rates and therefore achieve Intuit’s goals for implementing an e-signature solution. We look forward to continue working closely with Intuit as they expand their use of EchoSign from the pilot phase into production.”