Innovative New Time-Saving Workflow Tools for Tax Practitioners Now Available From Bloomberg Tax & AccountingInnovative New Time-Saving Workflow Tools for Tax Practitioners Now Available From Bloomberg Tax & Accounting

Arlington, Va. (March 26, 2020) — Bloomberg Tax & Accounting today announced the release of a new set of workflow tools designed to help practitioners save time by getting them to the information they need faster. For more information and to schedule a demo, visit http://onb-tax.com/D9a850yWmBJ.

Built to streamline practitioners’ tax research, the new tools help with individual and business planning issues as well as transactions. Topics covered include:

• Bonus Depreciation and First-Year Expensing
• Choice of Forum
• Deemed Asset Acquisition Election Tool (Section 338/336(e))
• Determining if an Individual is a Dependent
• Expatriation of Individuals
• FBAR Filing for Individuals
• Foreign Earned Income Exclusion (Section 911)
• Innocent Spouse Relief
• Meals & Entertainment
• Portability of Deceased Spousal Unused Exclusion Amount
• Section 645 Election

These new tools leverage the in-depth analysis and practical guidance from the industry gold standard Tax Management Portfolios with intuitive workflows to simplify and shorten the customer’s research time, allowing them to more quickly understand the issues and develop informed planning strategies.

Each easy-to-use tool leads practitioners through a series of questions related to a transaction or situation, taking into account key considerations and facts required to make a determination. With each step along the way, definitions, descriptions, and links to additional guidance and relevant source material are displayed, providing more detail on the question at hand. After all questions have been answered, a summary page offers links directly to applicable source documents, practice guides, and portfolios supporting the response.

“We recognize the need for practitioners to work more efficiently and, at the same time, be confident they are understanding the nuances of a particular issue or transaction. By leveraging the expertise and real-world application of tax concepts found in the Tax Management Portfolios, we provide an interactive and tailored way for practitioners to get to the information they need quickly,” said Lisa Fitzpatrick, President, Bloomberg Tax & Accounting. “These workflow tools are another example of Bloomberg Tax & Accounting’s continued investment in innovative and practical tools that deliver value in our customers’ day to day work.”

The new workflow tools are currently available on the Bloomberg Tax platform for all subscribers.