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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.

Tax Lifecycle PROVISION & FINANCIAL STATEMENT AUDIT EXTENSIONS ESTIMATED TAX PAYMENTS TAX COMPLIANCE TAX AUTHORITY AUDITS & DEFENSE AMENDED TAX RETURNS TAX PLANNING & REPORTING BUDGETING & FORECASTING

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: EU To Table A Digital Tax Proposal In October

The European Commission has committed to tabling a proposal for a digital tax in October, whether or not an international agreement surfaces from OECD-led talks on new international tax rules for the world's largest firms.

Tax-News.com: Hong Kong Discusses US Termination Of Shipping Tax Pact

The Hong Kong Government has said it is looking at potential measures to support the shipping industry following the decision by the US Government to terminate the two territories' agreement that exempted shipping industry income from tax.

Tax-News.com: US Lawmakers Approve New Cryptoassets Reporting Rules

The US Senate has approved the inclusion of new provisions in the bipartisan infrastructure bill to require intermediaries involved in cryptocurrency trading to report details about transactions.

Tax-News.com: Wyden Takes Aim At US Pass-Through Income Tax Break

Senate Finance Committee Chair Ron Wyden (D-OR) has introduced legislation to overhaul the 20 percent deduction for pass-through income introduced into US tax law in 2017.

Tax-News.com: US IRS Flags Deadline For Q2 Estimated Tax Payments

The US Internal Revenue Service has issued a reminder to taxpayers who pay estimated taxes that they have until June 15 to pay their estimated tax payment for the second quarter of tax year 2021 without incurring a penalty.

Tax-News.com: UK Announces Tax Breaks For Businesses In 2022 Budget

With the UK corporate tax rate set to rise 25 percent from April 2023, the UK Government has announced various tax proposals that are intended to support businesses and the UK economy, in the newly released 2022 Budget.

Tax-News.com: Indonesian Lawmakers Approve Tax Reform Plans

Indonesia's lower house of parliament has signed off on a bill that provides for a two-stage hike to the headline value-added tax rate, the cancellation of a planned corporate tax cut, and the introduction of a new top rate of personal income tax.

Tax-News.com: Singapore To Implement Budget 2021 GST Reforms Unchanged

Following a consultation exercise, the Inland Revenue Authority of Singapore has said the territory intends to go ahead with various important goods and services tax regime changes without accepting amendments proposed by stakeholders.

Tax-News.com: Hong Kong To Amend Tax Rules For Foreign-Source Passive Income

The Hong Kong Government has issued a statement committing to amend its tax law with regards the tax exemption for foreign source passive income from 2023, to ensure the territory does not end up placed on the EU's tax blacklist of non-cooperative territories.

Tax-News.com: EU Seeks Input On New Withholding Tax Directive

On September 28, 2021, the European Commission launched a consultation on a proposed Directive that would obligate member states to introduce the same rules regarding withholding tax on dividend and interest payments.

DOL finalizes broad ‘retirement security rule’

CPA financial planners need to be aware of the U.S. Department of Labor’s new rule, which is intended to protect retirement investors from receiving investment advice tainted by conflicts of interest.

Draft of Form 1099-DA for reporting digital asset transactions released

The draft form, which when finalized will be used by brokers to report digital asset transactions, reflects the language of the proposed regulations, including a broad definition of “broker.”

IRS has mixed results from ‘ghost employer’ enforcement efforts

The IRS had mixed success in its first efforts to find employers who evade taxes, doing better in its criminal pursuit than on the civil side, the Treasury Inspector General for Tax Administration said in a recent report.

Updated FAQs provide details on phase-in timing of BOI access

The FAQs from Treasury’s Financial Crimes Enforcement Network said access to beneficial ownership information will be phased in, beginning this spring with a pilot program for some federal agency users and concluding in spring 2025, when financial institutions with customer due-diligence requirements will be able to review BOI.

CFO optimism reaches 3-year high, new survey shows

More than one-third of CFOs are very optimistic about the economy, according to a quarterly survey by Grant Thornton, and most finance leaders project growth in net profits over the next 12 months.

Draft of Form 1099-DA for reporting digital asset transactions released

The draft form, which when finalized will be used by brokers to report digital asset transactions, reflects the language of the proposed regulations, including a broad definition of “broker.”

IRS has mixed results from ‘ghost employer’ enforcement efforts

The IRS had mixed success in its first efforts to find employers who evade taxes, doing better in its criminal pursuit than on the civil side, the Treasury Inspector General for Tax Administration said in a recent report.

Updated FAQs provide details on phase-in timing of BOI access

The FAQs from Treasury’s Financial Crimes Enforcement Network said access to beneficial ownership information will be phased in, beginning this spring with a pilot program for some federal agency users and concluding in spring 2025, when financial institutions with customer due-diligence requirements will be able to review BOI.

Despite moratorium, IRS gets 20,000 ERC claims weekly, Werfel says

IRS commissioner Danny Werfel told the Senate Finance Committee that a tax bill passed by the House in January would help the IRS combat fraud in employee retention credit claims.

IRS grants limited waiver for underpayment of estimated corporate AMT

In light of the continuing challenges taxpayers are facing with the corporate alternative minimum tax, the IRS granted a waiver of the addition to tax for failure to pay estimated corporate AMT “in the interest of sound tax administration.”

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