Ernst & Young has partnered with Thomson Reuters to introduce EYTaxSpace Powered by Thomson Reuters, a service for processing the firm’s corporate tax clients.

Based on the ONESOURCE software from the Tax & Accounting business of Thomson Reuters, the system aims to streamline business tax compliance and reporting services. EYTaxSpace integrates data and processes to simplify data submission from clients and coordinate the data gathering process on an enterprise-wide basis. The system sets up a collaborative environment between the client and Ernst & Young to provide clients with real-time access to the status of the work being done by E&Y and a snapshot of the client’s tax situation.

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