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Volume 3 2010 May Tax Tech eNews
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Tax Tech eNews
Volume 3
May 2010 |
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Welcome to the May 2010 Edition
of ACT's Tax Tech eNews!
As you know, today is the last day of our 2010 Annual Conference and what a conference it has been! We will have all the highlights in our July 2010 issue. Because of the tremendous effort put into the conference by our board, committee members, staff and sponsors, this edition of eNews is a little smaller than most. We'll be back with our regular format for the July edition.
If you haven't heard, we announced the location and date for our 2011 conference -- June 19-22, 2011 at the Loews Coronado Bay in San Diego California. Mark your calendars now and plan to join us at the only conference of its kind for tax, technology, and tax technology professionals! Registration will open in December.
This issue of eNews contains great articles and information to help your department be more effective. Please take time to let us know what you think, as well as suggest any topics you would like us to cover in the future. You can email us by clicking here.
Sincerely,
The ACT Board, Committees, and Staff
Thank you to our 2010 Sponsors
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 Tax Automation and the Impact on Financials - Three Common Missteps When Processes are Not AutomatedWritten by: Claire Crossman, Thomson Reuters
As use of technology has increased during the production of corporate financial statements, so too have the expectations of this technology, whether related to savings in time or money or higher quality product. In the not so distant past, it was common for corporate tax departments to allot up to three weeks for the preparation of quarter-end and annual financial reports, such as the Earnings Releases, Audited Financial Statements and the Security Exchange Commission's 10-K/10Q. For many companies the timeframe has shrunk to seven business days and, in some cases, even less. With the enactment of Sarbanes Oxley (SOX), corporations are now required to document all processes to establish control over the data that is managed and reported. As the reporting process becomes more automated, tax departments will be better equipped to meet the combination of accelerated reporting and the SOX requirements.
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Federation of Tax Administrators (FTA) Electronic Filing Symposium Update
ACT and COST held a joint conference call with FTA earlier this year regarding state electronic filing standards. We are continuing to work to provide our members with the latest information possible. This article is an update regarding FTA's 2010 Electronic Filing Symposium held May 2nd through May 5th in Atlanta, Georgia. The conference attendees included state electronic filing coordinators, tax software vendors, CPA firms and corporations. Most of the attendees were state electronic filing coordinators and tax software vendors.
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It's Been Awhile Since You Updated Your Bio!
Did you know you can setup your own personal bio page on www.taxACT.org? You can include things like professional information, tax and ERP systems used, education information, and MORE! Just follow these steps:
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Under "My Profile" click on "Manage Profile".
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Click "Edit Bio".
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Type in the information you would like to include. If there is information you'd like to have included in your profile, but not visible to other members, simply uncheck the box next to that data.
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Click to accept the terms of use and then click "Save Changes".
Note: Regular Members have access to all other Member's profiles. This means that you can perform searches to find out things about other members -- such as who uses SAP for example.
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One Company's Experience with Converting From CORPTAX CS to CORPTAX US Compliance
Written by: Art Gomez, Atlas Service Link
Not everyone likes change especially when it comes to your Tax software. "If it's not broke don't fix it!” But if you want to take advantage of technology improvements you will need to change. This is the story of Company X.
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Tax Provision Survey Results
Written by: Leslie Beach, Southwest Airlines and Jennifer Townsend, United Airlines
Respondents were asked to provide general information about themselves and their companies. The survey also asked questions about the provision process, accounting systems, data gathering, tax technology, foreign provision, and uncertain tax positions.
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Next Bi-Monthly Webinar
We hope that you have been able to attend and have been enjoying our bi-monthly CPE accredited webinars. As a reminder, if you have missed any of the previous webinars, please click here to visit our website for a link to the archived presentations.
Below is the information for our next webinar:
Tax Department of the Future
| Host and Sponsor: |
Thomson Reuters |
| Date: |
June 15, 2010 |
| Time: |
2:00 PM EST |
| Duration: |
1 Hour |
| CPE Credit: |
1 |
Webinar Description:
With issues making the corporate tax landscape more complex than ever, tax professionals are adopting technology strategies to take their tax departments to the next level. Learn how integration, automation and globalization are impacting the way tax practitioners work.
Join Russell Dover, a manager in the Tax and Accounting business of Thomson Reuters, for a complimentary one-hour webcast as he explores evolving strategies and tools that are revolutionizing the corporate tax landscape.
Registration Link:
Tax Department of the Future
** Upon registration you will receive login instructions via email.
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Upcoming Webinars
Best Practices Utilizing Tax Technology
| Host and Sponsor: |
RSM McGladrey, Inc. |
| Date: |
August 17, 2010 |
| Time: |
2:00 PM EST |
| Duration: |
1 Hour |
| CPE Credit: |
1 |
Speaker Opportunity
ACT is looking for speakers that are experts in their area to speak at our webinars. If you have a presentation you would like to contribute or if you have a topic you would like us to cover, please let us know by filling out the Speaker and Author Opportunity Form.
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2010 Annual ACT Conference Round-Up
Will be included in the July edition of eNews -- watch for it!
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Member Spotlight - Christian Diaz, The Coca-Cola Company
Click here to get to know Christian Diaz from The Coca-Cola Company!
Calling all members! If you have a process you've automated or streamlined in your tax department, other members want to know. If you are interested in being featured in our eNews Member Spotlight, please contact us.
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The Tax Tech eNews is published by the Association for Computers & Taxation (ACT), a nonprofit organization. Permission is required to reproduce in any form. Opinions expressed are solely the author's, and not the opinion of ACT. Send all editorial correspondence, manuscripts, etc. to: ACT, P.O. Box 1093, Warwick, NY 10990.
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