Tax Prodigy releases ASC 740 compliance solution

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Tax software company Tax Prodigy announced the release today of Tax Prodigy Provision, a Web-based solution focused on helping companies comply with financial accounting standard ASC 740 accounting for income taxes. The software was created by tax professionals, and is designed for midsized businesses.

“As a tax professional myself, I have spent countless, unnecessary hours dealing with the administrative issues and technical problems surrounding tax provisioning,” said Nick Frank, CEO of Tax Prodigy, in a statement. “As this is the most scrutinized aspect of corporate tax preparations, I have felt the stress that comes from this process. When we started Tax Prodigy in 2010 we set out to create software that actually helps the tax professional by making their life easier and Tax Prodigy Provision does exactly that.”

According to the company, Tax Prodigy Provision takes a few days to implement and is configurable to a user’s preference in how data should be organized. The solution features access control, audit logs, and the ability to make and track comments. The software is hoped to remove versioning problems and auditing issues that have gained increased scrutiny in the current regulatory environment.

For more information on Tax Prodigy Provision, click here; for pricing information, contact the company at (703) 829-7763

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