AUDIT CONTROVERSY MANAGEMENT
Tax departments know all too well that completing the quarterly and annual provision and filing the annual tax returns is not the end. Fielding and responding to RARs and requests for reports on past returns continue for years. The time required to manage audit related issues has grown exponentially in recent years but Thomson Reuters has technology solutions to help.
Whether you are looking for a solution to specifically help you manage audit controversy or want more audit friendly features in your tax technology, Thomson Reuters has the solutions for you.
FULLY MANAGE YOUR AUDIT PROCESS
ONESOURCE Audit Manager is for companies that:
- Manage simultaneous audits and need to stay on top of responses, deadlines, position agreements and other important information
- Manage information from multiple audits, multiple countries and jurisdictions, and multiple years throughout the audit process
- Need to be more efficient and effective at responding to the influx of information requests
- Need to better coordinate activity among those involved in the audit
ONESOURCE Audit Manager can help your company achieve stronger audit results by enabling you to track critical information, quickly access supporting documentation, and streamline the overall audit process - saving time and reducing audit costs.
ONESOURCE R&D Tax Credit Manager
ONESOURCE R&D Tax Credit Manager supports the complete research tax credit lifecycle - from automating the routine, administrative tasks of gathering quantitative and qualitative information to substantiating research activities, to analyzing and determining positions, to defending an audit. The software is web-based, fully tailored to your company's needs, and is intuitive and easy to use. Secure, anytime, anywhere access makes it easy to gather information from employees whether in the office, on the road, at customer sites, or from home.
In weeks, not months, ONESOURCE R&D Tax Credit Manager enables you to identify qualified research activities, gather necessary documentation to meet IRS audit guidelines, and determine your optimal tax position. It's for companies that:
- Need an effective method for identifying research activities that qualify for credit
- Have geographically-dispersed R&D operations that make it difficult and costly to collect adequate documentation
- Have had difficulty sustaining their tax credit under audit
- Need a less intrusive and time-consuming way to effectively collect documentation from R&D staff
ONESOURCE State Apportionment
ONESOURCE State Apportionment provides a single foundation for collecting, consolidating, sourcing, computing, and reporting apportionment data.
ONESOURCE State Apportionment calculates apportionment instantly across all the entities in your organization. It automatically keeps an audit trail of every change, providing the ability to recall data, reports, and calculations at any point in time. Actual as-filed data is always available, even after subsequent or amended returns are filed.
ONESOURCE State Apportionment users can go back to any point in time to compare and contrast the data and simultaneously review comments and attached documentation that supported the decision, the position, and the sourcing methodology. Management can use the audit trail feature to review individual data to see what changes were made, who made the changes and when the changes occurred.
ONESOURCE FileRoom provides distributed access to a single, secure, companywide database archive of any documentation for your returns, apportionment, the research tax credit and more.
Use ONESOURCE FileRoom to easily access support documentation to bolster your company's position while under audit or address specific inquiries from management or the IRS. The software interfaces easily with all major accounting, human resources, and payroll systems such as SAP, PeopleSoft, and Oracle.
It provides complete security and instant accessibility to data from anywhere with corporate intranet access. ONESOURCE FileRoom is hosted and supported by Thomson Reuters at a secure data center and requires no support from corporate IT departments.
Corporate Tax Analyzer
Corporate Tax Analyzer powered by BNA Software - Expertly manages every aspect of your corporate income taxes, including calculations for compliance, audit, reporting, and planning.
The Corporate Tax Analyzer of ONESOURCE Income Tax provides built-in audit support including computations and analysis of proposed IRS adjustments, accelerates IRS exams, and optimizes outcomes including handling much of the paperwork associated with IRS examinations under the Coordinated Examination Program (CEP) and includes forms authorized by the IRS for use by examiners.