Release of CORPTax(R) Global Provision Software To Simplify Worldwide FAS 109 Reporting

Apr 19, 2001, 01:00 ET from Deloitte & Touche Tax Technologies

    DEERFIELD, Ill., April 19 /PRNewswire/ -- Deloitte & Touche Tax
 Technologies LLC (http://www.corptax.com), a leader in specialty corporate tax
 software, launched its new worldwide provision system, CORPTax Global
 Provision, today. The product provides a provision system that fully
 integrates with its companion federal compliance system, CORPTax Federal &
 State. This solution provides users with a simple and comprehensive method of
 complying with FAS 109 on a worldwide basis, as well as offering a solution
 for companies that currently only have domestic operations.
     "CORPTax Global Provision will be a tremendous benefit to our clients,"
 said Todd Dannenfelser, partner.  "There is a real need in the marketplace for
 a global provision application that is completely integrated with a federal
 compliance system. CORPTax Global Provision will greatly reduce the time and
 effort needed to comply with FAS 109 on a worldwide basis."
     CORPTax Global Provision automates worldwide FAS 109 compliance by
 leveraging the information in its multiyear database to produce reports that
 calculate current and deferred taxes and the necessary financial statement
 disclosures such as rate reconciliation, deferred tax balances and income tax
 expense. The product also facilitates the transfer of data between CORPTax and
 general ledger systems, such as the export of journal entries to an electronic
 file. In addition, CORPTax Global Provision includes a full set of reports to
 automate monthly, quarterly and annual provisions.
     By centralizing users' FAS 109 compliance, CORPTax Global Provision
 eliminates the need to create and maintain multiple spreadsheets for provision
 purposes.  The system properly manages deferred taxes by segregating entities
 and tax jurisdictions while managing multiple tax rates and currencies. Like
 other CORPTax reports, CORPTax Global Provision reports are customizable to
 meet an organization's specific reporting requirements.
 
     About Deloitte & Touche Tax Technologies and Deloitte & Touche
 
     Deloitte & Touche Tax Technologies develops, implements, supports, and
 provides education for specialty corporate tax software products under the
 brand name CORPTax Software. For more than 25 years, CORPTax Software has had
 a significant impact in the corporate tax software marketplace, allowing
 companies to automate, calculate, and prepare their corporate consolidated tax
 returns and provisions in a streamlined, cost-effective manner. Since its
 beginning in 1974, CORPTax has grown from a small start-up of five clients to
 an impressive client list that totals over 1,200 today. The company is
 headquartered in Chicago (Deerfield, Ill.), with two additional regional
 offices in Dallas and Los Angeles (Woodland Hills, Calif.).
 
     Deloitte & Touche Tax Technologies is a subsidiary of Deloitte & Touche
 LLP, one of the nation's leading professional services firms, which provides
 assurance and advisory, tax, and management consulting services through nearly
 30,000 people in more than 100 U.S. cities. The firm is dedicated to helping
 our clients and our people excel. Known as an employer of choice for
 innovative human resources programs, Deloitte & Touche has been recognized as
 one of the "100 Best Companies to Work For in America" by FORTUNE magazine for
 four consecutive years. Deloitte & Touche is the U.S. national practice of
 Deloitte Touche Tohmatsu.  Deloitte Touche Tohmatsu is a Swiss Verein, and
 each of its national practices is a separate and independent legal entity. For
 more information, please visit Deloitte & Touche's web site at
 http://www.us.deloitte.com.
 
     Contact:
     Ian J. Solomon
     Communications Manager
     Deloitte & Touche Tax Technologies LLC
     847-236-8221
     isolomon@deloitte.com
 
 

SOURCE Deloitte & Touche Tax Technologies
    DEERFIELD, Ill., April 19 /PRNewswire/ -- Deloitte & Touche Tax
 Technologies LLC (http://www.corptax.com), a leader in specialty corporate tax
 software, launched its new worldwide provision system, CORPTax Global
 Provision, today. The product provides a provision system that fully
 integrates with its companion federal compliance system, CORPTax Federal &
 State. This solution provides users with a simple and comprehensive method of
 complying with FAS 109 on a worldwide basis, as well as offering a solution
 for companies that currently only have domestic operations.
     "CORPTax Global Provision will be a tremendous benefit to our clients,"
 said Todd Dannenfelser, partner.  "There is a real need in the marketplace for
 a global provision application that is completely integrated with a federal
 compliance system. CORPTax Global Provision will greatly reduce the time and
 effort needed to comply with FAS 109 on a worldwide basis."
     CORPTax Global Provision automates worldwide FAS 109 compliance by
 leveraging the information in its multiyear database to produce reports that
 calculate current and deferred taxes and the necessary financial statement
 disclosures such as rate reconciliation, deferred tax balances and income tax
 expense. The product also facilitates the transfer of data between CORPTax and
 general ledger systems, such as the export of journal entries to an electronic
 file. In addition, CORPTax Global Provision includes a full set of reports to
 automate monthly, quarterly and annual provisions.
     By centralizing users' FAS 109 compliance, CORPTax Global Provision
 eliminates the need to create and maintain multiple spreadsheets for provision
 purposes.  The system properly manages deferred taxes by segregating entities
 and tax jurisdictions while managing multiple tax rates and currencies. Like
 other CORPTax reports, CORPTax Global Provision reports are customizable to
 meet an organization's specific reporting requirements.
 
     About Deloitte & Touche Tax Technologies and Deloitte & Touche
 
     Deloitte & Touche Tax Technologies develops, implements, supports, and
 provides education for specialty corporate tax software products under the
 brand name CORPTax Software. For more than 25 years, CORPTax Software has had
 a significant impact in the corporate tax software marketplace, allowing
 companies to automate, calculate, and prepare their corporate consolidated tax
 returns and provisions in a streamlined, cost-effective manner. Since its
 beginning in 1974, CORPTax has grown from a small start-up of five clients to
 an impressive client list that totals over 1,200 today. The company is
 headquartered in Chicago (Deerfield, Ill.), with two additional regional
 offices in Dallas and Los Angeles (Woodland Hills, Calif.).
 
     Deloitte & Touche Tax Technologies is a subsidiary of Deloitte & Touche
 LLP, one of the nation's leading professional services firms, which provides
 assurance and advisory, tax, and management consulting services through nearly
 30,000 people in more than 100 U.S. cities. The firm is dedicated to helping
 our clients and our people excel. Known as an employer of choice for
 innovative human resources programs, Deloitte & Touche has been recognized as
 one of the "100 Best Companies to Work For in America" by FORTUNE magazine for
 four consecutive years. Deloitte & Touche is the U.S. national practice of
 Deloitte Touche Tohmatsu.  Deloitte Touche Tohmatsu is a Swiss Verein, and
 each of its national practices is a separate and independent legal entity. For
 more information, please visit Deloitte & Touche's web site at
 http://www.us.deloitte.com.
 
     Contact:
     Ian J. Solomon
     Communications Manager
     Deloitte & Touche Tax Technologies LLC
     847-236-8221
     isolomon@deloitte.com
 
 SOURCE  Deloitte & Touche Tax Technologies