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
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.”
Dirty Dozen list ends with easements, digital assets, and more
The IRS winds up its annual list of 12 scams and schemes by covering two broad categories: bogus tax-avoidance strategies and schemes with an international element.
Proposed regs. issued for 1% excise tax on corporate stock repurchases
Two sets of proposed regulations issued by the IRS provide guidance on the implementation of the new excise tax and on rules for the procedure and administration applicable to the reporting and payment of the tax.
Two home energy rebates not includible in gross income, IRS says
The IRS said it will not include the rebates provided under the Inflation Reduction Act of 2022 in individual purchasers’ gross income or in the cost basis of the property purchased.
AICPA letter to FinCEN supports small registered investment advisers
Proposed regulations could challenge small RIAs in particular to maintain compliance, according to an AICPA comment letter. The letter recommends that FinCEN reconsider how it determines who must report.
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.
More than 4 in 5 large companies still offer flexible work model
Research reveals that four years removed from the beginning of the pandemic, the majority of the largest companies in America feature a structured hybrid model. The most popular model? Three days per week in the office.
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.”
Cautious optimism: CEOs confident in their businesses, the economy
Large-company CEOs in a KPMG survey are confident in the U.S. economy despite multiple risks. Also, the CEOs seem to be changing their thinking about a permanent return to in-office work, with more envisioning a hybrid model.
EY partners warned of profit decrease
The reported warning follows EY accumulating extra debt to deal with the costs of its failed Project Everest
This week in tax: PwC to reunify its US tax practice
Paul Griggs, the firm’s inbound US senior partner, will reverse a move by the incumbent leader; in other news, RSM has announced its new CEO
Spain: When should taxpayers recognise refunds of taxes declared contrary to law?
The Spanish Supreme Court has confirmed its stance on the fiscal year in which income from a refund of taxes should be recognised, report Alejandro Fernández and Sandra Díaz of Garrigues Spain
PwC denies ‘false allegations’ in letter criticising its Evergrande auditing
The ‘big four’ firm has threatened to legally pursue those behind the letter, which has been circulating on social media
Global ethical standards on tax planning for accountants launched
The guidelines have been established in the wake of multiple tax scandals and controversies that have rocked the accounting profession
Indonesian tax administration system begins use of taxpayer identification numbers
Endy Arya Yoga and Welly Armantha Napitupulu of GNV Consulting summarise recent updates in Indonesia’s tax system, including new debt-related guidelines in the customs and excise sectors and import policy changes
Brazilian Federal Revenue Service revives controversy over the PIS/COFINS taxable basis
Gabriel Caldiron Rezende of Machado Associados discusses a highly questionable manoeuvre by the Brazilian Federal Revenue Service to boost tax collection, despite a decision by the Federal Supreme Court
CJEU to decide if Portuguese stamp duty on debenture guarantees violates directive
André Areias and Liliana Piedade of Cuatrecasas report on a preliminary ruling request by the Portuguese Arbitral Court and consider the decision’s expected impact on taxpayers
This month in indirect tax: UK progresses with CBAM plans
US and Turkey compromise again on DST, new rules in Belarus on e-services VAT, Malta forced to charge VAT on buying and selling of securities, and more
Italian Supreme Court analyses contributions in kind to foreign companies
A case involving registration tax applied to a real estate contribution highlights the Italian tax framework’s inconsistency with the principles under a European directive, say Paolo Ludovici and Andrea Iannaccone of Gatti Pavesi Bianchi Ludovici
Mutual agreement procedures after self-adjustments: new perspectives in Italy
Paolo Ludovici and Luca Tortorella of Gatti Pavesi Bianchi Ludovici highlight two recent Italian tax court decisions regarding admissibility to mutual agreement procedures where the double taxation derives from self-adjustments rather than formal assessments
Portugal: Proposed EU directive on TP harmonisation and coordination
Multinational enterprises that conduct intra-group transactions in EU jurisdictions should be closely monitoring a proposed transfer pricing directive, say João Velez de Lima and André Vilaça Ferreira of Vieira de Almeida
EY expert: TP departments less than ready for compliance
Luis Coronado suggests companies should embrace technology to assist with TP data reporting, as the ‘big four’ firm unveils a TP survey of over 1,000 professionals
Kenya plans TP database to crack down on tax evasion
The proposed matrix will help revenue officers track intra-company transactions from multinationals
Italian Supreme Court issues decision on interest-free intercompany loan
Federico Vincenti and Carola Valente of Valente Associati GEB Partners/Crowe Valente analyse a significant addition to Italy’s case law on the application of transfer pricing regulations to interest-free loans between related parties
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