CCH has begun offering outsourced sales and use tax return preparation and filing services to corporate accounting and tax departments.
The CorpSystem Sales Tax Compliance Services include company set-up and tax return configuration. CCH works with a clients staff to compile all of the required company profile and tax return-related information, including any applicable states and separately reported localities, filing frequencies, permit numbers and other relevant information.
In addition, CCH works with clients to ensure that all the data requirements are understood so that the monthly transactional data can be accurately populated. Once the set-up is completed, a one-month parallel test validates that the returns are producing the expected results.
At the beginning of each month, clients generate files of monthly transactions and liability data, which are used to populate the required returns. An initial review is performed to ensure that all data has loaded correctly.
Based on the clients particular requirements, manual adjustments are made to the tax return for items such as untaxed purchase transactions that require consumer use tax reporting; zeroing-out negative numbers from returns and logging them as credit carry-forwards; applying previous credits on current tax returns when applicable; calculating and applying prepayments; bad-debt deductions; and excess tax collected if gross-up processing is not utilized. Once all the adjustments have been made to the returns, a senior-level CCH tax professional performs a detailed review and then approves the tax return.
After all the required tax returns are prepared, reviewed and approved, a remittance request is generated so that clients can fund all remittances for the period. All tax returns are generated by CCH, attached to the associated check, and mailed to the applicable taxing authority. In addition, all electronic and Web site tax returns and remittances are prepared and sent. CCH also handles all the notices received by tax authorities.
The services are all governed by client-specific service level agreements. Sales Tax Compliance Service clients have a designated account manager who ensures that all services performed meet the SLA. During the monthly cycle, clients will be able to monitor the preparation and filing process, as well as all tax authority correspondences, through a secure customer portal.
After each production cycle is completed, an evaluation is performed, and any issues or concerns are addressed and resolved. The CCH-designated account manager remains in regular contact with clients to solicit and provide feedback to ensure that all the clients expectations have been fully met.
For more information, visit www.salestax.com.
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