Arlington, Va. (October 18, 2023) — Bloomberg Tax & Accounting today announced that it will highlight new releases to its tax research and software solutions at the annual conference of the Tax Executives Institute (TEI) taking place in New York October 22-25. Bloomberg Tax will showcase its comprehensive global tax intelligence and powerful calculation software that enables tax professionals to get the timely, accurate, and in-depth information they need to plan and comply with confidence.
Some of the resources, enhancements, and workflow tools that Bloomberg Tax will be featuring at TEI include:
- Bloomberg Tax AI Lab: Released this week, Bloomberg Tax Research customers can now opt in to test drive new AI-driven features, beginning with an enhanced search experience using AI functionality. Feedback provided by users will inform improvements for this and additional features to come.
- Bloomberg Tax Provision: This ASC 740 software allows tax professionals to accurately forecast and calculate their tax estimations for 10-K and 10-Q financial statements, while managing risk and reducing time spent. The fully integrated, easy-to-implement software ensures the rate rec ties and outputs are audit-ready.
- Bloomberg Tax Workpapers: This brand new product is a cloud-based software solution combines the power of automated data transformation with the flexibility of a spreadsheet to improve the end-to-end workpaper process with integrated tax guidance, data prep, and controls built just for tax professionals.
- Compliance Tracker: A workflow tool that automates the process of tracking and gathering federal and state tax deadlines and forms while providing alerts about approaching and changing filing obligations.
- Bloomberg Tax Fixed Assets: This tool for automating fixed assets workflows eliminates the process of manually inputting, reconciling, and reporting data while leveraging the most accurate and expansive depreciation features, including bonus calculations, and complex, non-conforming state capabilities.
On Monday, October 23, Bloomberg Tax Practice Lead Emilie Burnette will participate on a panel, “Mobile Employees – Rewriting Remote Working Policies with a Tax Lens,” discussing how remote work can affect nexus, filing agreements, and credits/incentives. The same day, Bloomberg Tax Product Lead Nick Frank will participate on a panel, “Accounting for State and Local Taxes: The Basics Every In-House Tax Professional Should Know,” which seeks to demystify the accounting for state and local tax consequences by providing practical advice. The session will cover the basics, including a description of the application of ASC 740 and ASC 450, valuation allowances, and deferred tax assets, as well as specific hypotheticals that intended to provide practical application of some not-so-practical accounting rules.
“Bloomberg Tax & Accounting values the corporate tax community, and we are excited to help TEI celebrate its 75th year,” said Lisa Fitzpatrick, president, Bloomberg Tax & Accounting. “We look forward to engaging attendees at this year’s annual conference and sharing our latest innovations across our suite of tax research and software products.”
For more information about Bloomberg Tax & Accounting and to request a demo, visit http://onb-tax.com/tS1W50PY9q0.
About Bloomberg Tax & Accounting
Bloomberg Tax & Accounting provides practitioner-driven research and technology solutions that deliver timely, strategic insights to enable smarter decisions. From our unparalleled Tax Management Portfolios to technology designed to streamline the most complex planning and compliance scenarios, we deliver essential news and analysis, practical perspectives, and software that help tax and accounting professionals around the globe mitigate risk and maximize business results. For more information, visit Bloomberg Tax.