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Growthlab Financial, a leading outsourced financial and accounting services provider, specializes in offering financial planning and accounting solutions to businesses across the United States. They manage over 1,000+ clients and handle more than $90+ million in financial transactions. Thus, there was a need for a fast and secure tax filing solution as their client base continued to grow.
Before adopting Tax1099, Growthlab Financial faced several challenges:
Since Growthlab Financial served hundreds of clients across different industries, it was necessary to fill a number of 1099 forms such as 1099-NEC, 1099-MISC, 1099-INT, 1099-B in large numbers which used to be time-consuming and troublesome.
It was critical for the firm to be able to import data in a format type that was flexible, as they have clients from different industries. They maintained their records with accounting software, but they couldn’t find a solution where they could integrate it and avoid manual data entry.
Growthlab Financial wanted an efficient means to collect W-9s with security and also authenticate TINs in order to fulfill IRS requirement.
When the firm expanded, the coordination of different clients’ returns in an efficient manner was becoming difficult.
It was important to constantly be in touch with the clients during the process of tax reporting, especially to enable them to view and keep a record of the forms.
In the year 2017, Growthlab Financial partnered with Tax1099 to overcome these challenges. Here's how Tax1099's platform helped transform their tax filing operations:
Tax1099’s bulk upload feature allowed Growthlab Financial to import data easily, regardless of the format, reducing errors and saving time. The platform supported the firm in processing a variety of forms, including 1099-NEC, 1099-MISC, 1099-INT, and 1099-B.
With over 12+ no-code integrations, including renowned accounting software tools like QuickBooks, ZohoBooks, Oracle NetSuite, and many more, Tax1099 stood out as a leading platform.
Growthlab Financial was able to handle high volumes of form submissions with no effort, including filing 1,392 of 1099-NEC forms in 2024 all alone. The platform’s ability to manage both federal and state filings in bulk ensured that Growthlab remained compliant across multiple jurisdictions.
With Tax1099’s client portal, Growthlab could easily collaborate with clients, allowing them to review and approve tax forms before filing. This feature also gave clients secure access to their forms post-filing, improving transparency and service quality.
The W-9 collection feature allowed Growthlab to gather recipient details and perform TIN matching against IRS records, reducing errors and avoiding costly penalties.
Growthlab used Tax1099’s Workflow platform to organize tax filing by form type, client category, and industry.
From 2017 to 2024, Tax1099 supported Growthlab in ensuring compliance with state and federal regulations, regardless of form type.
Growthlab leveraged Tax1099’s e-delivery feature, allowing clients to receive and access their forms electronically while benefiting from the security of cloud-based storage
By implementing Tax1099. com, Growthlab Financial experienced the following improvements
By the TIN Matching feature and the audit checks, Growthlab was able to maintain high accuracy in filings so that it rarely encountered rejections from the IRS.
Some of the effects of the client access portal include enhanced flow of communication and enhancement of overall customer relations.
The flexibility of the software, particularly the Smooth and flawless data import feature and the ability to create many folders at a time enabled Growthlab to minimize the time taken in filing taxes.
Tax1099 at the same offered Growthlab Financial with the advantage of making payments through prepaid credits and the ability to make multiple filings at once which cuts down the operational costs.
The firm also experienced an increase of around 3000 state filing volume from 2018 to 2024.
Partnering with Tax1099.com has empowered Growthlab Financial to improve their tax filing operations, scale their services efficiently, and deliver exceptional results to their clients. The end-to-end e-filing solutions provided by Tax1099 have enabled Growthlab to meet their evolving tax compliance needs while elevating/ enhancing operational efficiency and accuracy.
“We've been using Tax1099 and Zenwork for the better half of the last 10 years now. The team at Zenwork stepped up, leaned in to support us, especially during those last two weeks of January. I do not expect to change providers. I give Tax1099 a 10/10 rating”
