Comprehensive tools to tackle any corporate return
Streamline and enhance your corporate tax preparation.
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1120 corporation returns
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Consolidated corporation returns
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S corporation returns
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Insurance returns
Maximize productivity
This powerful system supports a wide range of corporate returns, ensuring your staff can be more productive and efficient.
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Efficient workflow featuresIncrease productivity with automatic calculations, options, and overrides that offer full control, including calculation history for federal C- and S-Corp returns.
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Comprehensive coverageHandle all types of corporate returns, including Form 1120, 1120-C, 1120S, 1120-REIT, 1120-PC, 1120-L, and more.
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Detailed statementsAccess detailed statements for net operating loss, general business credits, contributions, capital loss, carryforwards, and carrybacks.
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Depreciation and amortizationHandle all types of calculations, book-to-tax adjustments and detailed reports for planning and audit trail purposes.
Extensive automatic calculations
Give staff the tools they need to be more productive and efficient.
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Extensive loss calculationsExtensive automatic calculations including calculating limitations and carryforwards for net operating losses, capital losses, 1231 losses, section 179, passive activity losses, contributions and various credits. Compute passive activity loss limitations for closely held and personal service corporations. Calculate carryback limits for NOL, AMT NOL, capital losses and general business credits.
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Alternative minimum taxIdentify tax preference and adjustment items, and perform alternative minimum tax calculations (and credit carryovers) for calendar and fiscal year returns. Calculate ACE adjustments for alternative minimum tax.
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Advanced depreciation handlingLock depreciation information to allow recalculation of return without recalculating depreciation.
Schedule M-1/M-3 Adjustments
Automatic calculation of book-to-tax Schedule M-1/M-3 adjustments simplifies your preparation process.
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Efficient M-3 processingExtensive diagnostic review and supporting statements for every M-3 line for at-a-glance audit trail.
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Flexible data entrySingle-entry option codes for income and deductions and rental expenses. Accrual options for reporting federal and state/city tax liability to Schedule M-1/M-3, balance sheet and P&L statements.
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Intuitive M-1/M-3 interfaceTax balance summary shows when key balance sheet, Schedule M-3 or 8916-A items are out of balance. Easily navigate between state adjustments, tax payments, estimates and general information.
Complex and advanced returns
Manage complexity for all types of returns.
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Oil & gas returnsImport and export of oil and gas depletion data to/from Microsoft® Excel® spreadsheets; comprehensive calculations for mineral interests such as oil and gas.
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Foreign entitiesAn easy-to-use wizard imports or exports foreign entity information one at a time or in batch mode. Full coverage of Form 5471, Form 5472, and Form 8865 and import/export capability for Form 8858.
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Advanced state featuresState features include allocation and apportionment for various industries and a state taxable income workpaper that summarizes state calculations. Perform cross-system calculations for IL, MA, MI and TX unitary returns.
Consolidated corporations
Address all compliance requirements for consolidated corporation returns.
- Provide 1120, 1120-C, 1120S, 1120-REI, 1120-PC, 1120-L and mixed group consolidations.
- Create tiered consolidations, maintaining all of the detail of the separate companies from the lower level consolidated return (1120 only).
- Prepare the return as a consolidated entity but file as a single, non-consolidated 1120 entity, with divisions and disregarded entity processing.
- Quickly review all supporting detail with columnar and stacked consolidated print options.
- SRLY limitations for NOL, AMT NOL, capital loss carryovers and general business credits (1120 only)
- Automatically carry forward separate company entries to the consolidated return for officers’ compensation, all credits and recaptures
- Provide comprehensive state, city and county returns based on Federal Consolidated Income.
- Recalculate depreciation for mid-quarter and half-year convention rules, prior short year and Sec 179.
- Inter-return navigation allows access to all returns in a consolidated group, from the consolidating unit.
- Straightforward entries for Form 851, Affiliations Schedule (1120 only).
- Three different coding systems that simplify elimination and adjustment entries: direct entry, journal entry, and elimination company method.
- Consolidating, combining and supporting statements that produce detailed audit trails all on a single, scrolling report.
- Detailed statements to support all automatic adjustments, and suppression of automatic adjustments when necessary.
- Tax provision worksheet that computes total tax and displays total tax detail.
S corporations
Shareholders allocation and distribution features give you flexibility to handle any situation.
- Easily convert a corporation return to an S-corporation return – and vice versa – from one year to the next.
- Allocate any and all distributive items contained in a return and perform special distributions and allocation methods, including per share, per day allocation; single or multiple tier allocation; effective ration allocation; residual allocation; and time-segmented allocation.
- Allocate income, deduction and alternative minimum tax items to shareholders on an activity-by-activity basis.
- Compute portfolio income and distributions for each shareholder.
- Compute tax on excess net passive income and built-in gains, and provide a statement detailing the calculation and pro-rata allocation of taxes.
- Provide exports of shareholder K-1 data.
- Produce a copy of Forms 8283 and 8886, IRS K-1 codes, IRS K-1 instructions and schedule of activities, property eligible for investment tax credit, foreign tax worksheet, and shareholder basis worksheets for each shareholder.
- Automatically compute a protective estimate, if applicable, with a worksheet (Form 1120-W)
- Prepare a single return for an S-corporation parent with qualified sub-chapter S subsidiaries (QSUB).
- Perform special allocation of footnote amounts and generate footnotes for all selected shareholders.
- Prepare regular corporation returns for states that do not recognize S-corporations or allow it to be filed as a corporation return.
- Produce a worksheet detailing the stock and debt basis for each shareholder.
Insurance returns
Simplify your compliance for insurance returns.
- Import NAIC annual statements for P&C, health, title and life (general and separate accounts).
- Import tax adjustment spreadsheets, including tax projection worksheets and tax adjustment journals.
- Import tax adjustment spreadsheets, including tax projection worksheets and tax adjustment journals.
- Perform comprehensive loss reserve discounting under both treasure and company methods.
- Sort the trial balance by IRS line number as well as by NAIC line.
- Produce consolidated 1120-PC and 1120-L returns, including the ability to e-file mixed group consolidations.
- Provide state income and franchise tax compliance.
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Automated 1120 workflows
Our business tax process has been automated and streamlined by the combination of using our tools, from CCH Portal to Axcess Tax into Engagement… Not having to hand-key entity returns has been a tremendous game changer for us as well. And it's a huge time saver, especially for new staff who don't necessarily know the proper inputs for the tax return and where it goes into the software. And we don't want them focusing on where to input things. We want them focusing on what the end result is.