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: New Zealand Tops World Bank's 'Doing Business' 2020
New Zealand is the easiest place in the world to do business, according to the World Bank's new Doing Business 2020 report, which looks at the simplicity of setting up, operating, and paying taxes in 190 territories around the world.
Tax-News.com: Warren Announces US Corporate Tax And Wealth Tax Plans
On November 1, 2019, the presidential campaign of United States Senator Elizabeth Warren (D-MA) published plans for a system of universal Medicare that will be partially funded by tax increases on large corporations and wealthy individuals, as well as by stricter anti-tax avoidance rules.
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: OECD Releases Further CbC Reporting Guidance
The OECD has released further interpretative guidance to give greater certainty to tax administrations and multinational groups on the implementation and operation of country-by-country reporting.
Tax-News.com: Singapore Announces Plans For GST Reforms
Singapore is to add provisions to draft legislation to enhance the new GST regime for imported services and clarify new rules for virtual currencies.
Tax-News.com: New Zealand Tops World Bank's 'Doing Business' 2020
New Zealand is the easiest place in the world to do business, according to the World Bank's new Doing Business 2020 report, which looks at the simplicity of setting up, operating, and paying taxes in 190 territories around the world.
Tax-News.com: OECD Urges Colombia To Rethink Tax Breaks
The OECD has recommended that Colombia pursue value-added tax and income tax reforms to plug revenue leakages and improve the fairness of the tax regime.
Tax-News.com: UK Explains BEPS Changes To Luxembourg DTA
On November 5, 2019, the UK Government released the synthesized text of the Luxembourg-UK double tax agreement, as modified by the BEPS multilateral instrument.
FASB approves guidance to assist in reference rate transition
FASB approved guidance to assist companies in their transition from interbank-offered rates to new reference rates.
New opportunities for firms in SOC reporting
Increases in outsourcing and cloud computing have led to clients’ need for CPA assurance on systems and controls.
FASB proposes clarifying hedge accounting standard
FASB is attempting to enable a better, more consistent application of its new hedge accounting standard with proposed clarifications to certain sections of the guidance.
Demand for sustainability assurance is growing
Seventy percent of companies participating in a survey by The Conference Board that obtain assurance on their sustainability information said the need for such assurance will increase over the next five years.
FASB addresses share-based payments to customers
Share-based payments made to customers will be accounted for under FASB ASC Topic 718 as a result of new rules.
Automatic accounting method change procedures updated
The IRS released its updated procedures for automatic accounting method changes, which are accounting method changes that can be made without the IRS’s consent.
IRS posts 2020 inflation adjustments and tax tables
The IRS released the 2020 tax tables for individuals and estates and trusts, as well as the inflation adjustments for over 60 tax provisions for 2020 tax returns.
Retirement plan contribution limits increase for 2020
Annual contribution limits for 401(k) plans will increase from $19,000 in 2019 to $19,500 in 2020, and most other limits are increasing as well.
TIGTA outlines IRS challenges for 2020
The memorandum lists 10 challenges in order of importance, ranging from data security to achieving operational efficiencies.
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.
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