New CCH CorpSystem SureTax Telecom Solution Streamlines Telecommunications Industry Tax Processing

 

RIVERWOODS, Ill., Jan. 18, 2012 /PRNewswire/ -- Keeping your billing systems up to date with ever-changing and complex telecom taxation is a tall order. Now, CCH has introduced CCH CorpSystem^® SureTax™ Telecom, a real-time web-based tax calculation solution maximizing CCH rates and taxability content specific to the telecom industry. CCH, a Wolters Kluwer business is a leading global provider of tax, accounting and audit information, software and services (CCHGroup.com).

The new solution leverages CCH's exclusive strategic alliance with SureTax, LLC to provide a timely, simple and effective way to calculate telecommunication taxes for billing and compliance. In combining industry-leading content with precise jurisdiction information and software-as-a-service (SaaS) cloud computing technology, CorpSystem SureTax Telecom simplifies the most complex sourcing and tax calculation rules in the industry.

Calculations for over 360 telecom and media services covering more than 10,000 U.S. and Canadian jurisdictions can be instantly performed via real-time web access to the SureTax processing engine.

New Solution Eases Calculation Challenges, Reduces Risk

For companies specializing in voice-over Internet protocol (VoIP), wireless and mobile technology, local and long distance access charges, pre-paid phone cards, digital goods and bundled services – it can be difficult to correctly calculate all telecom-specific taxes for accurate billing, reporting and tax compliance. SureTax Telecom regularly updates federal, state and local tax rates and rules for numerous telecom and media related products and services for all jurisdictions where companies do business.

"Not only are telecom firms of all sizes challenged to stay on top of accurate tax calculation issues, but they know that the incorrect application of tax rules might lead to audit liability," said Bruce Krumlauf, CCH Product Line Manager. "Now, with the new CorpSystem SureTax Telecom, firms of all sizes can benefit from the combination of a cloud-computing, SaaS calculation solution embedded with CCH's authoritative content."

"SureTax Telecom was designed from the ground up with input from telecom industry leaders," said SureTax President and industry expert Mike Sanders. "By aligning SureTax with CCH's premier content, CorpSystem SureTax Telecom brings two market-leading resources together in a single solution."

Robust Features Benefit Firms of All Sizes

The new offering is designed to meet the needs of small, mid-sized and large telecom firms with attractive features, including:

• Easy Set Up – User-friendly interface allows for seamless integration with billing, accounting, remittance and in-house reporting systems.
• Multiple Jurisdiction Monitoring – Enables users to accurately bill and collect transaction taxes, automatically track tax rates and rules that apply to locations where they conduct business, quickly apply all new rules, simplify process of verifying proper nexus and stay on top of all relevant taxes and fees.
• Generate Detailed Reports – Data is auto-aggregated to produce customizable, detailed, rich data reports to support monthly tax compliance filing and monitoring, regulatory reporting, reconciliation, revenue analysis, audit defense and more.
• Simplify Customer Exemption Management – Helps users save time with transaction and market segment level tax exemption handling.
• Support for Monthly Compliance – Easily retrieve results to support in-house returns preparation or third party compliance filing and remittance service providers.

No additional hardware or software installations are required for running the cloud computing solution, further simplifying tax calculation and compliance tracking for telecom firms.

For More Information

To find out more about CorpSystem SureTax Telecom, please call a CCH representative at 1-866-513-CORP (1-866-513-2677).

About SureTax

Based in Atlanta, Ga., the SureTax team has been serving the Telecom market for decades and understands the nuances of transaction tax on Telecom services – including Traditional Long Distance, Local, Mobile, VoIP, Prepaid, Cable, Bundled Services, Internet, and Digital Goods. The technology team behind SureTax specializes in software engineering for high security, high-volume transaction processing systems and has delivered solutions that drive mission critical transactions for enterprise clients since 1993. 

About CCH, a Wolters Kluwer business

CCH, a Wolters Kluwer business (CCHGroup.com) is a leading global provider of tax, accounting and audit information, software and services. It has served tax, accounting and business professionals since 1913. CCH is based in Riverwoods, Ill. Follow us now on Twitter @CCHMediaHelp. Wolters Kluwer (www.wolterskluwer.com) is a market-leading global information services company. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.

SOURCE CCH, a Wolters Kluwer business