After achieving its strongest e-filing tax season to date with more than 11 million tax returns transmitted through its ProSystem fx Tax and Global fx Tax compliance solutions, CCH has earned a 97-percent electronic acceptance rate for federal 1040 individual tax returns and a 98-percent electronic acceptance rate for federal business tax returns, according to the Internal Revenue Service’s Software Error Reject Code Report.
For the 2010 income tax filing season, CCH's electronic filing platform was relied upon by thousands of CPA firms to electronically transmit more than 11 million state and federal tax returns. At times, the CCH electronic filing platform transmitted nearly 100,000 tax returns an hour, and on April 18, the tax filing deadline date, the CCH platform transmitted nearly 1 million tax returns. In addition, CCH's electronic filing system reported an availability rating in excess of 99.995 percent – the availability level required of a tier 4 data center.
Separately, CCH announced that for the seventh consecutive year, it has been selected by the IRS to deliver comprehensive sales tax rates tables for use by taxpayers. Under the agreement, CCH will deliver state and local sales tax rates tables to the IRS Office of Research. The state and local sales tax tables will be made available to taxpayers for filing 2011 income tax returns and support the agency’s online Sales Tax Deduction Calculator.
Information for the IRS tables, used by taxpayers to determine optional sales tax deductions for income tax returns, is derived from numerous CCH workflow tools, including CorpSystem ZIPSales Lookup database, providing updated sales tax data for every zip code, city, county and state in the United States and its territories, as well as CCH’s IntelliConnect online research system. Using the IRS tables, taxpayers can determine whether to deduct their state and local sales tax versus their state and local income tax, without having the burden of saving all their receipts to tally the sales tax they actually paid. For the 2008 tax year, the most recent year for which data is available, about 11 million individuals claimed the general sales tax deduction with a value of $18 billion.
“We are very excited to be chosen by the IRS again to provide the latest updated rate and taxability information for every zip code in the country,” said CCH president and CEO Mike Sabbatis. “Providing this multi-jurisdictional sales tax information strengthens our long-standing relationship with the IRS and gives us the opportunity to directly support millions of taxpayers, as well as the tax professionals they rely on, in making informed decisions based on CCH’s authoritative information.”
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