Transforming Tax Technology
Our Tax Technology Solutions
Cloud based technology designed to drive greater tax function effectiveness and efficiency
Legal Entity Management
A dynamic solution that manages vital company data, documents and organizational relationships.
State Apportionment
A powerful solution to streamline state and city apportionment data and calculations.
Income Tax Provision
A comprehensive income tax accounting solution designed for accuracy and simplicity.
Tax Technology BEYOND the Spreadsheet
Integrated Tax Lifecycle
The Tax Lifecycle is a continuous progression generally started with an enterprise’s annual income tax provision and continuing through the planning and forecasting phases. The process is tied to various regulatory deadlines and must be adhered to.
PROVISION & FINANCIAL STATEMENT AUDIT
At the close of every year and quarter, companies recognize income tax expense or benefit in accordance with FASB Accounting Standards Codification 740, Income Taxes (ASC 740). ASC 740 prescribes the methodology for the recognition, measurement and disclosure of income taxes.
EXTENSIONS
Due to the time constraints endured during the compressed tax accounting close, enterprises generally extend their tax compliance obligations to afford additional time to file income tax returns.
TAX COMPLIANCE
Companies prepare and file their annual income tax returns following a set of jurisdiction-based complex rules and regulations which are subject to ongoing change.
BUDGETING & FORECASTING
Due to the generally large cash outlays required during the tax year, tax obligations should be forecasted to ensure coordination with overall business operations.
TAX AUTHORITY AUDITS & DEFENSE
Tax returns are subject to the scrutiny of the various taxing jurisdictions in which a company operates or may be deemed operating.
TAX PLANNING & REPORTING
As one of the largest expenses on a company’s income statement, income tax planning is necessary to ensure obligations are met without sacrificing tax efficiency.
ESTIMATED TAX PAYMENTS
Companies need to comply with various federal, state, local and country specific rules and regulations to remit estimated tax payments periodically throughout the tax year.
AMENDED TAX RETURNS
Due to a multitude of factors, companies may be required to amend previously filed tax returns that may increase or decrease the amount of tax previously reported.
Latest News
Tax-News.com: IRS Expands Virtual Currency Tax Guidance
On October 9, 2019, the United States Internal Revenue Service issued two new pieces of guidance for taxpayers who engage in transactions involving virtual currency.
Tax-News.com: IRS Grants Relief For US Persons Affected By Section 958 Repeal
On October 1, 2019, the United States Treasury Department and the Internal Revenue Service announced a relief for certain US persons that own stock in certain foreign corporations.
Tax-News.com: Sanders Unveils US Wealth Tax
United States Senator Bernie Sanders (D-VT), a leading contender for the Democratic presidential nomination, has proposed a new tax, as well as a series of enforcement measures, targeting America's wealthiest individuals.
Tax-News.com: More US States To Tax Remote Sales From October
Many US states will begin to impose sales and use tax obligations on remote sellers and marketplace facilitators from October 1, 2019, largely in response to the United States Supreme Court's landmark decision in the Wayfair case.
Tax-News.com: US-Switzerland Double Tax Protocol Now In Force
The Swiss Government on September 20, 2019, announced that it has exchanged instruments of ratification with the United States to bring into force a Protocol to their double tax agreement.
Tax-News.com: Australian Tax Changes For Self-Managed Super Funds Effective
Australia has enacted new integrity measures included in the Treasury Laws Amendment (2018 Superannuation Measures No. 1) Bill 2019 affecting self-managed super funds.
Tax-News.com: EU Updates Tax Blacklist
The EU has removed two countries from its list of non-cooperative tax jurisdictions and found a further five to have met their commitments on tax cooperation.
Tax-News.com: IRS Expands Virtual Currency Tax Guidance
On October 9, 2019, the United States Internal Revenue Service issued two new pieces of guidance for taxpayers who engage in transactions involving virtual currency.
Tax-News.com: Greek 2020 Budget Submitted
On October 7, 2019, the Greek Ministry of Finance presented to parliament the 2020 Budget, which includes numerous tax cut measures announced recently by Prime Minister Kyriakos Mitsotakis.
Tax-News.com: Argentina Consults On New Transfer Pricing Rules
On October 2, 2019, Argentina's tax agency released new draft transfer pricing rules for consultation.
FASB votes to delay effective dates for 3 major standards
Effective dates will be delayed for private companies and certain other entities for FASB’s standards on accounting for leases, credit losses, and hedging after a unanimous vote by FASB.
Opinion: FASB proposal jeopardizes health care entity financing
A FASB proposal could render obsolete a valuable financing option for health care entities known as variable-rate debt obligations (VRDOs).
Taxpayers may deduct casualty losses in prior years
The IRS finalized regulations permitting taxpayers to deduct disaster losses in the prior tax year and removed the related temporary regulations that were issued in 2016.
Sustainability assurance’s link to reporting quality
The steady growth in assurance of sustainability reports suggests that companies increasingly perceive that there are net benefits of having their sustainability reports assured.
IRS clarifies the tax treatment of cryptocurrency ‘hard forks’ and ‘airdrops’
The IRS ruled that a taxpayer does not have gross income as a result of a hard fork of a cryptocurrency if the taxpayer does not receive units of a new cryptocurrency, but does have gross income as a result of an airdrop of new cryptocurrency after a hard fork if the taxpayer receives units of the new cryptocurrency.
Taxpayers may deduct casualty losses in prior years
The IRS finalized regulations permitting taxpayers to deduct disaster losses in the prior tax year and removed the related temporary regulations that were issued in 2016.
IRS clarifies the tax treatment of cryptocurrency ‘hard forks’ and ‘airdrops’
The IRS ruled that a taxpayer does not have gross income as a result of a hard fork of a cryptocurrency if the taxpayer does not receive units of a new cryptocurrency, but does have gross income as a result of an airdrop of new cryptocurrency after a hard fork if the taxpayer receives units of the new cryptocurrency.
CFC downward attributions get safe harbors
U.S. shareholders who own stock in foreign corporations were given a safe harbor by the IRS, making it easier for them to establish that they are not shareholders in a controlled foreign corporation, or CFC.
IRS issues 2019 to 2020 per-diem rates for traveling away from home
The IRS issued its annual notice specifying the special per-diem rates, including the transportation industry meal and incidental expenses rates, the rate for the incidental-expenses-only deduction, and the rates and list of high-cost localities for purposes of the high-low substantiation method.
Safe harbor allows QBI deduction for rental real estate businesses
The IRS issued a revenue procedure describing the requirements taxpayers have to meet to be a rental real estate business that qualifies for the safe harbor to be treated as a trade or business in order to qualify for the Sec. 199A qualified business income deduction.
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