Wolters Kluwer Tax and Accounting said Monday the Internal Revenue Service has selected it for the 12th year in a row to provide sales tax rate and taxability tables for taxpayers.
This is the first time the company has been awarded a five-year contract, though. The Chicago-area company, formerly known as CCH, is owned by the Netherlands-based Wolters Kluwer N.V., and has rebranded in recent years to emphasize the Wolters Kluwer name.
During the tax preparation process, Wolters Kluwer Tax and Accounting will give federal taxpayers access to updated information from thousands of tax jurisdictions to help them decide if they could save more money by deducting their state and local sales taxes from their income or by taking standard or itemized tax deductions. The figures in the tables provided by Wolters Kluwer display the average of consumer expenditures, based on information from every ZIP code in the U.S., so taxpayers don’t need to save and tabulate all their sales receipts.
The data also supports the IRS’s online Sales Tax Deduction Calculator, which taxpayers can use when filing their income tax returns next year. The company is supplying the IRS with data from all U.S. ZIP codes, along with taxability rules for more than 500 spending categories from the U.S. Bureau of Labor Statistics.
The sales tax rates and taxability information comes from more than 10,000 U.S. jurisdictions. It is also used in several of Wolters Kluwer’s products, including CCH IntelliConnect, CCH Sales Tax Office and CCH SureTax.
