For the ninth straight year, CCH has been selected by the Internal Revenue Service (IRS) to deliver comprehensive sales tax rate and taxability tables to help millions of Americans prepare their tax returns. CCH, a part of Wolters Kluwer is a leading provider of tax, accounting and audit information, software and services (CCHGroup.com).
"It's
an honor to be selected again by the IRS and a tribute to everyone on
the CCH team who works very hard on our sales tax solutions to generate
reliable, updated rate and taxability information for every ZIP Code in
the country," said Scott Gruchot, CCH Vice President & General
Manager, Corporate Services. "Delivering valuable multi-jurisdictional
sales tax information gives us the opportunity to directly support
millions of taxpayers and tax professionals who regularly integrate our
solutions into their daily workflow, enabling them to make informed
decisions based on the latest CCH tax data."
Pinpoint Tax Rate Location Accuracy
Taxpayers will continue to have access to granular tax districts
rather than full-city tax rates. The ability to pinpoint specific
municipal sales tax rates provides a higher degree of accuracy and
enhances the taxpayer experience by allowing users to precisely identify
their tax jurisdictions.
Data for Convenient Tax Return Preparations
Information
for IRS tables, used by taxpayers to determine optional sales tax
deductions for income tax returns, is generated from several CCH
workflow tools, including thedatabase providing updated sales tax
data for every ZIP Code, city, county and state in the United States
and its territories. Tax information for IRS tables also comes from
CCH's IntelliConnect® research platform.By leveraging these solutions, CCH supplies the IRS with updated sales tax information for all U.S. tax jurisdictions.
CCH's
taxability and tax rate information for state and local jurisdictions
supports the IRS's online Sales Tax Deduction Calculator – available to
taxpayers for filing 2013 income tax returns. The data enables the IRS
to list the average amount of sales tax – according to income and family
size – that should be paid in each jurisdiction. These average amounts
represent a "standard market basket" of consumer expenditures.
Taxpayers
relying on these IRS tables can conveniently determine whether to
deduct their state and local sales tax versus their state and local
income tax – without having to save all their receipts throughout the
year to tally sales tax that was actually paid.
In addition to
providing data for the Sales Tax Deduction Calculator, CCH is also
supplying the IRS with data related to the taxability rules for more
than 500 Bureau of Labor Statistics spending categories.
For More Information
To learn more about CCH's sales tax calculation solutions, including Sales Tax Office, please contact a CCH sales representative at 1-866-513-CORP (1-866-513-2677). More information is also available by visiting CCHGroup.com.
Thursday, July 18, 2013
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