Federal & State Tax Compliance
Ongoing federal corporate tax code changes have rippling effects on businesses and can make federal tax compliance even more complex. Cherry Bekaert offers a dedicated team to monitor, master, and influence those changes, so businesses receive the maximum benefits.
Whether a business is multi-state or international, we know how to navigate the interwoven system of requirements facing your organization. Our team can guide you to a lasting, managed system for future corporate tax planning.
- Federal, State and International Tax Return Compliance and Planning
- Compliance with ASC 740 that Includes Tax Provision Review or Preparation
- Uncertain Tax Position (UTP) Disclosure
- Amended Returns
- Staff Augmentation and Loaned Staffing
Income Tax Provision (ASC 740)
Reporting for ASC 740 has increasingly complex requirements under tight deadlines. Even with internal resources meeting the timing of the preparation of a tax provision can be daunting.
Cherry Bekaert’s Corporate Tax Planning Strategies team consists of knowledgeable advisors who assist public and private companies during income tax provision cycles and throughout the year. Our income tax provision software review can help identify issues prior to your external audit process to guard against your activities creating material weakness, restatement or ASC 740 non-compliance. Our services include:
- ASC 740: Federal Income Tax Provision Preparation
- Annual and Quarterly Income Tax Provision Review
- FIN 48: Uncertain Tax Position Update and Review
- Review of Tax Controls
- Loaned Staff and Staff Augmentation
- ONESOURCE Tax Provision Implementation
Outsourcing Accounting Services
Rather than spending resources to train and maintain a full-time tax staff, several businesses use tax outsourcing services to enhance their compliance efforts. Cherry Bekaert specializes in building a robust tax compliance plan so you can focus on your business. Our tax preparation outsourcing and tax consulting services include:
- Federal, State and International Compliance
- Sarbanes-Oxley Documentation Assistance
- Tax Return Review
- Amended Returns
- IRS or State Audit Income-Driven Repayment Response Support
- Accounting for Income Taxes
Tax Technology Services
Internal tax departments are under more pressure than ever to produce accurate financial reporting under time constraints with fewer internal resources. Tax technologies and process improvement are excellent solutions that make available numerous compliance software programs, each with its own unique strengths and weaknesses.
Cherry Bekaert’s Corporate Tax Planning Strategies technology professionals can help guide your business through the process of choosing, implementing, or enhancing a tax technology and data analytics software solution. Our tax technology advisors match your needs with the right compliance software solution, and then help your team maximize its strengths.
We are experienced with a range of both popular and boutique tax technology and data analytics solutions such as ONESOURCE™, Corptax and Longview Tax. We can help:
- Determine the right tax technology system for a business
- Implement and customize functionality
- Integrate general ledger, return and provision systems
- Configure tax automation services
- Customize deferred tax reporting
- Configure journal entries
- Map for tax basis balance sheet
