New York -- Thomson Reuters has introduced a new system to help foreign financial firms comply with the requirements of the Foreign Account Tax Compliance Act, which was included as part of the HIRE Act of 2010 and requires foreign financial institutions, including hedge funds, to report on the assets of their U.S. account holders to the Internal Revenue Service, or face stiff penalties. FATCA took effect on January 1, although some requirements have been delayed.



Irvine, Calif. -- Business process management product provider Kofax plc has released Kofax MarkView for Accounts Payable 8.0, a secure mobile offering for the automated capture and processing of AP data. The new product was designed to enable customers to use the cameras in mobile devices to capture, view, manage and approve information from receipts and invoices within a secure chain of custody that includes AP processes and workflows. Once captured, an image cannot be altered or tampered with, and does not remain on the mobile device.

Kofax MarkView for AP automates the receipt and capture of paper and electronic invoices, extracts relevant data from that content, perfects it and then manages the information into workflows for routing transactions through exception handling and approval processes.



Grand Forks, N.D. -- Electronic filing and payroll and employee form provider Aatrix Software Inc. has formed a strategic partnership with BGTax Forms to provide W-2/1099 electronic filing services via the Aatrix Payroll eFile Center to their customers. The new offering will be available to customers using BGTax Forms from their Web site and will work with virtually any payroll software. Users can take any spreadsheet file exported from their payroll software to load their data and e-file federal and state copies. Employee copies will then be mailed directly to them and posted to a secure Web site.

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