The concept of compliance lies at the heart of the job of the corporate tax department. The TaxStream solution provides the flexibility to accommodate all your compliance needs, including SOX, IRS, Financial Reporting, and any industry specific statutory filings. TaxStream can be easily configured to fulfill a variety of reporting requirements.
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- FAS109 - TaxStream provision was originally built as a FAS 109 solution for the Big Four and multinationals who needed a powerful tool for their complex tax provision needs. It continues to be the industry standard.
- IAS12 - TaxStream’s provision is now used by a number of clients who file under IFRS. As global convergence approaches, an increasingly large number of clients are calculating their income tax expense according to IAS 12. TaxStream allows tax provision calculations according to IFRS, US GAAP, and other local GAAPs.
- ISR, FRS19, CICA 3465, AASB 112 - Because TaxStream provides a universal platform to calculate income tax expense, it can be used for a variety of different rules and statutory requirements.
- FIN48 - TaxStream’s uncertain tax module documents, manages, and analyzes your uncertain tax positions, and does the necessary tax accounting to satisfy your reporting and planning needs.
- Financial Reporting - Satisfy tax requirements for Financial Reporting. Generate your 10K footnote and manage your deferred assets and liabilities, effective rate, and tax expense, all from one central tax data warehouse.
- Estimates and Extensions - Compute your estimated payment and extension amounts by reusing the provision data and adding other components like minimum and franchise taxes.
- Return System Integration - Easily interface with your return system. Migrate your book-tax differences from the provision to populate the return information.
- Tax Liability Tracking - Track, manage, and document your taxes payable roll forward, by transaction type, entity, and period.
- FERC, SSAP 10, and regulatory STAT - Generate reports for the statutory requirements specific to insurance companies, energy companies, and other industry specific filings. Start with STAT and layer on your GAAP adjustments, or vice versa, depending on how you keep your books. TaxStream industry groups give you access to industry-specific reports and industry peers to discuss your specific needs.