When it comes to doing the complicated corporate tax provision, we have discovered in our surveys many corporate tax professionals are still using an in-house, homemade excel format. The problem is an in-house excel program will miss important information and calculations. What we learn from experts is the disproportionate amount of time tax professionals are spending on making sure the Excel spreadsheets are calculating correctly versus the real technical issues in an ASC 740 context.
For most companies, the facts change from year to year. For example, changes occur to accommodate new facts such as new entities, states or foreign jurisdictions, uncertain tax benefits or even new perms and temps. These changes require significant knowledge of the design and links within the excel spreadsheet model. Spreadsheet users are often required to make modifications to multiple tabs in the spreadsheet and ensure that they don’t break any formulas. This whole process introduces risk into the spreadsheet. For example, something that should be very simple like adding a new entity will require numerous changes to a spreadsheet model.
TaxConnections invites tax professionals working in corporate tax departments to learn from nationally recognized tax provision expert Nick Frank. After working with sophisticated tax software in Big Four and a Fortune 500 company, Nick developed a program to simplify the tax provision process.
For those of you who have attended his previous webinars through TaxConnections invitations, you now understand why Nick is such a fantastic instructor of the corporate tax provision.
If you have not had the opportunity to participate in one of Nick Frank’s tax provision webinars, please do so with our compliments. All you need to do is REGISTER HERE.
This course will cover ASC 740 process design in the context of the 2017 Tax Cuts and Jobs Act.
(Complimentary Webinar – Friday, July 20th 2018 at 8:00AM PDT)
It is a privilege to have the opportunity to learn from one of the most knowledgeable corporate tax provision instructors in the country. TaxConnections brings you another webinar on the corporate tax provision with Nick Frank, Tax Prodigy CEO as the instructor.
With the enactment of the Tax Cuts And Jobs Act there are three areas that tax professionals need to prepare and focus on since there is increased focus from auditors. We know this because we are talking to companies who are informing us of these trends. Here are three areas Nick will prepare you for given the increased attention by the Auditors on them:
- Uncertain Tax Benefits – Expect more uncertain tax benefits arising from the uncertainty around the operation of the new law.
- States – States are going to be more significant and there will be more variation between states as they adopt different parts of the Tax Cuts And Jobs Act.
- SOX Controls – For most companies, the Tax Cuts And Jobs Act will cause the most significant changes in the process ever. Companies need to demonstrate that adequate controls are in place and that changes were made appropriately and accurately.
This complimentary webinar is specifically for corporate tax professionals or for tax professionals in CPA firms doing the tax provision as an outsourced provider. Attend this webinar and you will more prepared than other professionals who will be scrambling to catch up later this year.
Register Here To Attend The Complimentary Webinar On Friday July 20th 2018
Time: 8:00AM PDT/9:00AM MT/10:00AM CT/11:00AM EST
If you are unable to make webinar this Friday, please register and we will keep you informed of future dates.