The Tax & Accounting business of Thomson Reuters has acquired select assets of the TaxWorks software line from RedGear Technologies, the customers of which will be transitioned to UltraTax CS—part of the CS Professional Suite.

Thomson Reuters said it has assembled specialists to work with the TaxWorks team to provide data conversion services, introductory webinars, training courses and other resources that will help TaxWorks users transition to UltraTax CS.

“We are very pleased that RedGear Technologies has selected UltraTax CS as the tax preparation system that best meets the needs of TaxWorks customers. We’re bringing all our resources to the table to make sure the transition is a smooth one for TaxWorks users,” said Jon Baron, managing director, Professional Segment, Tax & Accounting, Thomson Reuters. “Working directly with the development team at TaxWorks will allow us to offer the most timely, accurate, and comprehensive data conversion possible.”

Over the next few days, TaxWorks customers will receive a comprehensive transition package with data conversion information, free training options, an UltraTax CS walkthrough guide, a renewal form that matches each firm’s TaxWorks products to equivalent UltraTax CS products, and other information.

“After careful consideration, we’ve decided to focus more strongly on our consumer tax preparation software for our retail and franchise business and therefore will no longer offer the TaxWorks line of software,” said RedGear Technologies assistant vice president Brad Peacock. “We’re confident that our customers are in good hands. They’ll find UltraTax CS to be a great match for their needs. It’s a very advanced, very intuitive system with navigation and functionality that offers many of the most popular features in TaxWorks plus many more new, innovative, and timesaving features..”

Thomson Reuters declined to reveal exactly how many TaxWorks customers it is transitioning over to UltraTax, though a spokesperson said “it is a sizable base and we are staffed appropriately for the transition.” H&R Block acquired TaxWorks early in 2007 and ultimately changed the company name to RedGear.

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