Tax season is the busiest time of year for accountants and tax professionals. Effective communication is critical during tax preparation, especially when serving culturally and linguistically diverse populations. With a growing number of limited-English proficient (LEP) individuals nationwide, accounting language services are a valuable resource for accounting firms, especially during tax season.
As of 2013, more than 20 percent of individuals living in the United States spoke a language other than English in their home. That’s 61.8 million people!
If you need to communicate with limited-English proficient clients or provide translated documents for tax preparation, you may be experiencing an increased demand for interpretation and translation services during tax season. Accounting language services ensure that effective communication is taking place, and help accounting professionals address compliance with government standards and regulations.
In this post, we’ll look at the need for accounting language services, the components of developing a language access plan, and common interpretation and translation needs for accounting firms during tax season.
Accounting Language Services: Speaking the Language of Clients
1. People Prefer to Do Business in Their Native Language
Research shows that people prefer to do business in their native language, especially when they have limited-English proficiency.
This need is especially important when important matters like finances or legal situations are involved. 9% of United States residents are limited in their use of the English language. Accounting language services empowers accounting firms to speak directly to these markets in the language they prefer, and increase business with multicultural consumers.
2. Hispanic and Asian-American populations alone represent 70% of LEP consumers in the United States
Spanish Language Market
50% of U.S. population growth from 2010 to 2015 has come from Hispanics, and the U.S. Census expects the U.S. Latino population to more than double within the next two generations.
The U.S. Hispanic market was booming in 2015 at $1.3 trillion. In 2020, that amount is expected to reach $1.7 trillion.
Spanish is the most spoken non-English language in the United States, and providing translation and interpreter services for the Spanish language market is increasingly important for visibility and potential growth.
Asian Languages Market
The Asian market, roughly 18.3 million Americans, was $825 billion in 2015 and is projected to grow to $1.1 trillion in 2020.
After English and Spanish, Chinese is the next most commonly spoken language in the United States, and the most commonly spoken language in the world, outnumbering English speakers 2:1.
Whether doing business globally or providing interpretation and translation to better serve your clients, Asian consumers have buying power. According to Selig Center Director, Jeff Humphreys, Hispanic and Asian consumers are driving the U.S. economy forward.
3. Serving Diverse Populations
While Spanish is the most common non-English language spoken in the United States, according to the 2016 American Community Survey, these are the languages spoken in U.S. homes with over 1 million speakers:
- Spanish – 40.5 million
- Chinese (including Mandarin and Cantonese) – 3.4 million
- Tagalog (including Filipino) – 1.7 million
- Vietnamese – 1.5 million
- Arabic – 1.2 million
- French – 1.2 million
- Korean – 1.1 million
The United States Census Bureau reports at least 350 languages spoken in U.S. homes. Connecting with and serving multicultural consumers is more important than ever for thriving businesses. That’s why Telelanguage offers accounting language services in over 300 languages!
Developing a Language Access Plan for Your Accounting Firm
To ensure that clients have meaningful access to your organization’s services, it is essential to evaluate legal language services and develop a comprehensive language access plan. Every organization has its own unique needs. Telelanguage can help your organization develop a language access plan to suit your specific needs.
A comprehensive language access plan should address:
- Assessing client language needs and capacity
- Cultural awareness training for attorneys and staff
- Access to legal certified and trained interpreters (telephonic, on-site, video remote)
- Translation of vital documents, legal information, and client communications
- Compliance for government standards and regulations
- Address privacy, confidentiality, and security
- Continuing to evaluate language access policies and procedures
7 Benefits of Accounting Language Services
- Achieve compliance with Government standards and regulations
- Improve client satisfaction ratings with prepared services
- Increase LEP participation and engagement
- Meet industry standards
- Reach and retain a greater number of multicultural consumers
- Improves brand reputation within the community
- Reduces miscommunication errors that can negatively impact your business
Commonly Translated Documents for Accounting Language Services
- Statutes & Laws
- Legal Documents
- Vital Forms
- Tax Preparation
- Emails & Correspondence
- Marketing Materials
Accounting Language Services: How Telelanguage Can Help
Research has shown that people prefer to do business in their native language, especially when they have limited-English proficiency. This gives legal professionals an opportunity to speak directly to these markets in the language they prefer.
Tax preparation requires the highest level of accuracy and attention to detail. It is important that accounting industry translation and interpretation are provided by interpreters and translators who have more than just native fluency, but also specialize in legal terminology and protocol. Telelanguage ensures its network of interpreters and translators are trained and certified using the most rigorous criteria.
In addition to providing accounting industry translation and interpretation services in over 300 spoken languages and American Sign Language, Telelanguage also provides document translation services for tax preparation in over 100 languages.
Video Remote Interpreting
Video Remote Interpreting, or VRI, is the fastest-growing foreign language service in the country. An on-demand interpretation solution, VRI bridges the gap between telephonic interpreting and on-site interpreting. Benefits of Video Remote Interpreting include:
- Gain visual support with enhanced accuracy
- Maintain personal (face-to-face) connection
- Appropriate for both spoken languages and American Sign Language
- Quick and easy account setup
- No special hardware required ()
- On-demand access
VRI promotes the highest level of accuracy in interpreting, second only to on-site interpreting. Telelanguage provides HIPAA, HITECH, and ADA compliant VRI services that can be accessed in seconds, available 24/7, 365 days a year – with assembly from any office or field site.
Learn More about the benefits of Video Remote Interpreting. DOWNLOAD the free white paper!
Telephonic interpretation is an on-demand, remote interpreting service that offers a fast response when urgent or unexpected language barriers come up. Telephone interpreting connects clients (in seconds) to a professional interpreter to resolve language barriers in emergency situations, for call-center support, and for situations that require a fast response.
When you need language support, you don’t have minutes to wait on hold. Telelanguage connects organizations to certified, U.S. based interpreters faster than any other vendor. Our proprietary technology also ensures that there are no outages in the event of a national emergency.
Learn More about the importance of offering language services as an organization. DOWNLOAD the free white paper!
Translation services require not only target language/English proficiency, but also a high level of detail and comprehension of topic-specific terminology.
At Telelanguage, our translators are subject-matter experts who have been through specialized training to meet the unique set of skills, knowledge, and experience to ensure proficiency in legal and financial services content, formatting, etc. Telelanguage only uses translators that have native fluency in both the Target Language and English, and have at least 2 years of experience in written translation.
Telelanguage has been providing accounting language services and legal language services since 1991. Security and confidentiality are extremely important to us. We provide a privacy notice to our customers who utilize our interpretation services. We protect personal and confidential information encountered during the interpretation process by maintaining physical, electronic, and procedural safeguards that meet or exceed applicable law. Whether you need legal document translation or an interpreter for a client meeting, using accounting language services will ensure effective communication for you and your limited-English proficient clients.
Telelanguage supports 350 languages, 24x7x365 utilizing 6,000+ U.S.-based interpreters. Telelanguage currently supports over 8,000 accounts around the world – in all industries. Services include over-the-phone, on-site, and video remote interpretation, as well as document translations, interpreter management and scheduling, reporting, invoicing, language assessment evaluations, and much more.
Contact us for more information about language support for your organization.
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