Wolters Kluwer Tax & Accounting US said it has been selected for the 11th straight year by the Internal Revenue Service to deliver its sales tax rate and taxability tables to help taxpayers across prepare their tax returns.
The company, formerly known as CCH, noted that with access to updated information from thousands of tax jurisdictions, tax filers can determine whether they will be able to save more money by deducting state and local sales taxes they have accrued during the year instead of taking standard or itemized tax deductions.
The figures in the tables represent an average of consumer expenditures for every ZIP code in the country, according to family size and income, allowing taxpayers to avoid the trouble of collecting and organizing sales receipts all year long. The information provided to the IRS comes from several Wolters Kluwer Tax & Accounting US products, including CCH Sales Tax Office and CCH IntelliConnect.
The same updated research for state and local jurisdictions also supports the IRS’s online Sales Tax Deduction Calculator, which is available to taxpayers for filing 2015 income tax returns. In addition, Wolters Kluwer is providing the IRS with data related to the taxability rules for more than 500 Bureau of Labor Statistics spending categories.
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