Bloomberg Tax & Accounting To Provide IRS With Corporate Tax Analyzer Software Under New Multi-Year Contract

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Dec 14, 2020, 10:26 ET

ARLINGTON, Va., Dec. 14, 2020 /PRNewswire/ -- Bloomberg Tax & Accounting today announced that it was selected by the IRS for a multi-year contract award to provide the agency with its Corporate Tax Analyzer and Income Tax Planner software tools.

As recipient of this award, Bloomberg Tax & Accounting provides IRS users with access to the Corporate Tax Analyzer software to calculate corporate taxpayers' liability in audit scenarios by applying complex tax rules over multiple years.

Additionally, this award provides IRS users access to the Bloomberg Tax & Accounting Income Tax Planner software, which allows the application of complex tax rules over multiple years to calculate individual taxpayers' liability.

"We are pleased about the recognition in the value of our software products' ability to accurately handle complex tax rules and streamline their workflows," said Lisa Fitzpatrick, President, Bloomberg Tax & Accounting. "By leveraging our technology solutions, IRS users will be able to work cases more effectively and efficiently, while increasing taxpayer engagement and improving collaboration."

Corporate Tax Analyzer automates and manages complex federal corporate income tax attributes over multiple years and across multiple scenarios to enable "what if" analysis and comparisons. The IRS has been using Corporate Tax Analyzer to support federal tax calculations for the purpose of IRS audit or ensuring federal tax compliance. Income Tax Planner automatically calculates federal income taxes for domestic individuals. Both Corporate Tax Analyzer and Income Tax Planner also help commercial customers with tax planning, audit, or tax compliance.

Bloomberg Tax & Accounting also provides the IRS with its comprehensive online tax research solution, Bloomberg Tax. For more information, visit https://www.bloombergindustry.com/press-releases/bloomberg-tax-to-provide-irs-with-tax-research-under-new-multi-year-contract/.

About Bloomberg Tax & Accounting
Bloomberg Tax & Accounting provides comprehensive global research, news and technology services enabling tax and accounting professionals to get the timely, accurate, and in-depth information they need to plan and comply with confidence. Our flagship Bloomberg Tax platform combines the proven expertise and perspectives of leading practitioners in our renowned Tax Management Portfolios™ with integrated news from the industry-leading Daily Tax Report®, authoritative analysis and insights, primary sources, and time-saving practice tools. Bloomberg Tax & Accounting technology solutions streamline tax management processes and enable practitioners to tackle complex scenarios with up-to-date calculations, in-depth analytics, and projections so they can mitigate risk and maximize outcomes. For more information, visit pro.bloombergtax.com.

SOURCE Bloomberg Tax & Accounting