Tax Accounting Automation

Sarbanes-Oxley and FIN 48 placed an unprecedented level of scrutiny on corporate income taxes, further increasing the level of precision needed and the documentation required. Many companies that historically relied on spreadsheet-based calculations have implemented third-party software packages such as TaxStream to automate quarterly and year-end tax provision preparation processes. Known for its ease of use and robust reporting capabilities, TaxStream is used by nearly 30 percent of Fortune 500 companies and by the major public accounting firms.

The TaxStream software is an end-to-end solution that simplifies the tax provision process, allowing you to pull information directly from general ledger sources, eliminating the need for most manual entries. TaxStream provides complete footnote support, including effective tax rate reconciliation and an inventory of deferred taxes. The reports are self-reconciling to ensure accurate calculations. In addition to generally accepted accounting principles (GAAP), TaxStream's tax provision solutions are compliant with IAS 12 of IFRS, CICA Section 3465 for Canadian GAAP and tax reporting for other statutory environments.

Backed by extensive experience with clients of all sizes and in a wide range of industries, we can provide your company with a local presence and highly-trained TaxStream experts who will advise you on the most efficient and effective use of TaxStream. Jefferson Wells professionals can assist you in implementing or enhancing your software solution and, since Jefferson Wells is also a licensed TaxStream user, we can use it to prepare your quarterly and annual tax provisions. Because we do not provide attest services, conflict of interest is never a concern.

Jefferson Wells and TaxStream software solutions put you back in control.