Deloitte Enhances its 990Capture Tool to Drive Greater Efficiencies for Tax Departments

Tax technology spotlight: 990Capture streamlines data collection, freeing up tax department staff time and reducing the risk of reporting errors

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Deloitte

May 09, 2019, 10:30 ET

NEW YORK, May 9, 2019 /PRNewswire/ -- Today, tax departments are managing growing regulatory and compliance demands, often coupled with fewer resources and increased time pressures. That is why Deloitte is developing state-of-the-art solutions that automate, streamline, and simplify complex tasks, helping its clients better utilize their tax department staff time while simultaneously helping to manage quality and risk.

Non-profit, tax-exempt organizations can often be hit the hardest by resource constraints. The complex reporting requirements of Form 990 have created a time-consuming and costly challenge for many of them. In response, Deloitte has deployed a web-based data collection tool with reporting capabilities—990Capture—that streamlines the compliance process. This intuitive software can enable and disable topics, subtopics, and questions based on their applicability to the organization—reducing errors and rework.

"Regulatory requirements, including the industry-specific complexities of the tax code and regulations, continue to create challenges for our clients" said Steve Kimble, chairman and chief executive officer, Deloitte Tax LLP. "That is why we are committed to investing in emerging and market-leading technologies that allow our clients to tackle these challenges and do so with confidence."

Deloitte's 990Capture functionality allows multiple users to access the tool simultaneously, from anywhere, at any time. Driven by client feedback—and to support a better user experience—the tool also compares data across multiple entities, views and applies prior year responses and reporting, and applies information across multiple entities with the simple click of a button. Additionally, the tool was enhanced for tax year 2018 to allow organizations to visually see information being reported within the tool in a format that mimics that of Form 990.

"We've seen some organizations that are required to file several hundred Form 990's a year across their various entities," said Jim Sowar, partner and national Tax leader for the health care sector at Deloitte Tax LLP. "The 990Capture tool has the ability to significantly reduce the amount of time spent on data entry. This time-saving capability allows our clients to spend less time focused on compliance-related tasks and frees individuals up to focus on more value-add tax savings opportunities within the organization such as understanding the impact of tax reform or seeking out refund opportunities related to sales and use or other taxes."

"Accuracy and consistency of reporting are paramount in today's complex tax reporting environment. As tax executives balance increasing operational pressures, Deloitte is focused on providing services, tools, and technologies that drive confidence in achieving these results" said Chuck Kosal, chief transformation officer at Deloitte Tax LLP. "Deloitte continues to tailor and enhance 990Capture based on client feedback to better align the solution with client-specific needs and increased value of the application—now and in the future."

Deloitte's unprecedented investment in digital transformation is the centerpiece of 'Tax in 2020', a three-year initiative that Deloitte launched. Deloitte will continue to spotlight technology innovations that are helping tax professionals adapt to accelerating globalization; increased regulatory and business complexities; and other transformational changes in the tax landscape. Read more about Deloitte's emphasis on the user experience for its suite of tax technology tools here: Deloitte Leads the Way in Mobile-Friendly Tax Technology.

About Tax in 2020
Deloitte's 'Tax in 2020' initiative is a three-year digital transformation plan launched in 2018. The plan is anchored by its unprecedented investment in building a seamless global tax experience for Deloitte's clients. Tax in 2020 is focused on reimagining how clients navigate the increasing change and complexity in the tax profession.

About Deloitte Tax LLP
Deloitte Tax helps clients lead the transformation of the tax function into a strategic partner that supports growth and sustained profitability within an organization. With deep experience across a broad range of services and industries, Deloitte Tax has more than 10,000 trusted advisors who combine their knowledge of tax technical resources and technology to uncover insights and smarter solutions for clients in today's complex global and regulatory environment. For more information visit http://www.deloitte.com/us/tax. Join us on twitter @DeloitteTax.

As used in this document, "Deloitte" means Deloitte Tax LLP, a subsidiary of Deloitte LLP. Please see http://www.deloitte.com/us/about for a detailed description of our legal structure. Certain services may not be available to attest clients under the rules and regulations of public accounting.

SOURCE Deloitte