Magazine article The CPA Journal

Website of the Month: Thomson Reuters Tax & Accounting

Magazine article The CPA Journal

Website of the Month: Thomson Reuters Tax & Accounting

Article excerpt

Thomson Reuters is known as one of the major providers of tax compliance and research software. Its tax and accounting website, http://tax.thomsonreuters.com, markets its products but also provides professionals with useful resources that have substantial background information and topical content Users can access materials that range from videos and webcasts, to short blog posts and brief articles, to longer case studies and reports. The website also features materials that address international and indirect tax issues.

The homepage's navigation tools focus on product marketing and feature customer categories, such as corporations, accounting firms, government, and financial institutions. The "Resources" tab houses a large collection of items that might interest a general user. The resources main page has an extensive topical index to help narrow a user's search.

Articles and Reports

The website offers materials written by Thomson Reuters staff and outside contributors. "How Does Cloud Computing Affect a Company's Tax Footprint?," by Kristina Dautrich (found in the newsletters section of resources), discusses whether the location of an information technology server creates a taxable presence. According to the article, authorities in India recently decided that a foreign company's server could constitute a permanent establishment, allowing the country to tax profits arising from such a server. The Organisation for Economic Co-operation and Development (OECD) holds a narrow view on when a server creates a permanent establishment and disagrees that websites and website-hosting facilities should produce permanent establishments.

Articles in the case studies section address economic, business, and accounting issues in the United States and abroad. Studies on several U.S. county governments address issues such as outmoded legacy accounting systems, rapid economic and population growth that makes existing accounting obsolete, and legislative changes that overwhelm property tax management technology.

In the white papers section, articles cover indirect tax topics, such as sales and use tax, value-added tax (VAT), and property tax. For example, "Managing Sales and Use Tax Audits" by Carla Yrjanson, provides guidance on circumstances that can lead to an audit and offers suggestions for managing sales and use tax compliance. The article describes the top 10 issues that trigger audits, such as nexus without registration, visual inspections, and high net sales. The top 10 pitfalls that examiners look for during an audit include underpayment of use tax, unreported sales, and charging the wrong rates. …

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