The Tax & Accounting business of Thomson Reuters has expanded its products for helping businesses comply with tax withholding requirements.
ONESOURCE Tax Information Reporting unites British and U.S tax withholding software, and includes the companys 1099 and Identity (W-8/W-9) products. Features include the ability to automate electronic filing of W-8 and W-9 forms, consolidate and validate documentation online and offline, and increase the visibility of status, history and expiration dates.
The product also includes compliance features for U.S. Forms 1099, 1098, 5498 and W-2; state forms UT 675R, CO Dr21W and MA 1099-HC; Puerto Rico Forms 480 and 499R; and Canada Forms T4A, T5, T5008, NR4 and Quebec equivalents. Users can run bulk and real-time TIN matching and SDN/OFAC list matching.
Workflow compliance features allow users to customize security controls, import data, run broad query, reporting, filing and printing functions; track workflow; and access output forms from the Internet.
Users can participate in software training and enlist consulting services for internal procedures
The ONESOURCE Tax Information Reporting solution from Thomson Reuters helps businesses comply with legislation such as the health care reform bill, the Housing Assistance Tax Act of 2008, and the modification to Foreign Account and Tax Compliance Act of 2009, among others.
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