OneSource™ Tax Provision News

ONESOURCE™ Tax Provision feels that keeping clients informed about happenings regarding our company is important in building customer satisfaction. To accomplish this, ONESOURCE™ Tax Provision sends periodic newsletters to its clients.

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TaxStream is now OneSource™ Tax Provision

TaxStream is now ONESOURCE™ Tax Provision, part of the ONESOURCE™ Global Tax Management Suite of Software and Services.

ONESOURCE™ Global Tax Management provides integrated tax solutions that help your business succeed.

Whether your operations are in Singapore, London, or Berlin, we give you the power to excel in risk management, automation, and time savings. Take control of:

  • Workflow management
  • International tax planning
  • Tax accounting
  • Transfer pricing

All the comprehensive tax services you need from one, customisable source.

For more information, please contact us at: +353.1.483.0867


TaxStream is acquried by Thomson Reuters

TaxStream, the market leader of tax provision and uncertain tax positions software, has joined the ranks of Thomson Tax and Accounting, a leading provider of information solutions to business and professional clients worldwide.

TaxStream will continue to provide clients with best-in-class automated income tax provision and tax contingency software, while at the same time making available the option of out-of-the-box integration with the Thomson Tax and Accounting suite of products such as InSource®, GoSystem® Tax RS, and CrossBorder Solutions Transfer Pricing. TaxStream will continue to support integration with all major and most other tax compliance software systems. By joining the Thomson product suite, TaxStream will provide companies with the flexibility of choosing any desired compliance software along with the option of an all-in-one tax provision and compliance solution.

TaxStream will maintain the high quality of service on which our clients have come to rely. The TaxStream team is excited about the opportunities for growth and expanded functionality provided by joining the Thomson Tax and Accounting suite of products and solutions.

For more information please contact Kali Kramer at +1-201-610-1211 x263 or kali@taxstream.net.

Learn more about how TaxStream integrates with Thomson Tax & Accounting products.


Deloitte UK Recognizes OneSource™ Tax Provision as Global Solution

"The importance of getting systems right for tax will be given a boost as the profile of global tax technology partners such as Sabrix, Vertex, and ONESOURCE™ Tax Provision rises and the appetite for consolidation grows."

Move Tax Forward

Deloitte has recently recognized ONESOURCE™ Tax Provision as a truly global tax provision solution that increases accuracy and transparency. A recent publication of the Move Tax Forward series from Deloitte’s London office mentions ONESOURCE™ Tax Provision.

ONESOURCE™ Tax Provision is pleased to have been cited as among a small number of tax technology firms internationally known for excellence. For more information, or to contact Deloitte directly, please follow the link to Move Tax Forward.


European Common Consolidated Corporate Tax Base

A new KPMG poll finds that a majority of European multinational corporate tax professionals favour the idea of a consolidated single income tax filing. The development of a European common consolidated corporate tax base, or CCCTB, came out of the Lisbon Accords' goal of making the EU the most competitive economy in the world. The idea of the CCCTB has significant detractors as well as allies, partly due to the belief that there will be definite winners and losers among individual country economies.

If and when this would become a reality remains a considerable question. If it does, it would mean substantial changes to how pan-European organizations create their income tax provisions. One of the changes discussed is creating apportionment factors that correspond to the taxable income allocated to each jurisdiction. ONESOURCE™ Tax Provision is ready to represent organizations' profit before tax allocated to the appropriate jurisdictions with current technology, and we will keep a close watch on any developments in this area. We remain committed to helping you optimize your tax provision process, integrate your provision into other systems, and innovate around the many changes in tax regimes and tax reporting.


OneSource™ Tax Provision Joins the Oracle PartnerNetwork

ONESOURCE™ Tax Provision, a leading provider of tax provision, uncertain tax positions and planning software, announced today that it has become a member of the Oracle PartnerNetwork. ONESOURCE™ Tax Provision’s combined solution will enable companies to populate the ONESOURCE™ Tax Provision Enterprise 5.0 software solution directly from the Oracle® Database and Oracle’s Hyperion Financial Data Quality Management software, creating a real-time, close-looped system for tax departments to complete their provisions and uncertain tax positions disclosures. Tax provision adjustments and disclosure information can then be loaded to Oracle's Hyperion Financial Management as part of the close process.

“This relationship underscores our commitment to providing clients with leading-edge technologies to make their tax departments both more efficient and compliant,” said Brian Tully, chief operating officer for ONESOURCE™ Tax Provision. “The combined solution provides tax departments with a complete Sarbanes-Oxley compliant solution — one that automates the close process and provides real-time access to financial information in the trial balance.”

ONESOURCE™ Tax Provision Enterprise 5.0 is a highly configurable and customizable tax software solution that automates the tax provision and re-uses data to compute extensions, estimates and returns. When combined with Oracle, ONESOURCE™ Tax Provision bridges the full trial balance directly from Oracle’s Hyperion Financial Data Quality Management and calculates the SEC tax footnote with full state and foreign calculations – all on a worldwide basis. ONESOURCE™ Tax Provision then can post the provision-to-journal entry back to Oracle or Hyperion Financial Management to complete the financial disclosure process. The tax department has full control of all adjustments while being seamlessly integrated with the complete financial reporting process.

In connection with its Oracle PartnerNetwork membership, ONESOURCE™ Tax Provision will be able to re-sell and implement Oracle products through value-added distributor Arrow ECS, creating one point of contact for customers.

ONESOURCE™ Tax Provision can also integrate with Oracle’s Hyperion Essbase to provide a planning and analytics tool that allows users to understand the true net-income impact of worldwide planning opportunities.

ONESOURCE™ Tax Provision is currently used by more than 125 Fortune 500 companies, nine of the top 10 accounting firms – including all of the “Big 4” – and more than 30 accounting firms worldwide.


TaxStream Named One Of The Fastest Growing Companies In America

TaxStream is proud to announce being named as the 51st fastest growing company in America by Inc Magazine. TaxStream has displayed 2,377.6% growth in the past three years.

TaxStream was listed as the 51st fastest growing company in America on their Inc 500 list. TaxStream is the fastest growing software company in New Jersey, as well as the 7th fastest growing software company in America.

TaxStream would like to thank all the companies and tax departments who have made our growth possible. We look forward to a long future of growth and tax software excellence. See the Inc 500 listing here.


TaxStream At International Tax Policy Conference In Dublin, Ireland

TaxStream attended the Irish Taxation Institute's Conference on International Tax Policy and Developments at the Burlington Hotel in Dublin, Ireland on 25 September. This conference included a lecture on FIN 48 and uncertain tax accounting by John O'Leary, a tax and legal services partner from PricewaterhouseCoopers. TaxStream was on hand at the reception following the conference to discuss tax accounting and reporting for FIN 48, FAS 109, IAS 12, and IAS 39. Read more about this conference.