(RIVERWOODS, ILL., March 3, 2008) – Subscribers to the Tax Zone Locator or any other product on the CCH® Tax Research NetWork™ now have a convenient way to identify hundreds or even thousands of money-saving tax credits and incentives with minimal effort through a new batch processing option. The Tax Zone Locator is made possible by a partnership between CCH, a Wolters Kluwer business and a leading provider of tax, accounting and audit information, software and services (CCHGroup.com), and the noted consulting firm, National Tax Credit Group, LLC (NTCG).
Subscribers can still utilize Tax Zone Locator for individual employee and business addresses; however, subscribers with a large number of addresses simply upload a Microsoft Excel® file, rather than typing in individual addresses.
“This dramatically reduces subscribers’ time spent on data input,” said CCH Product Manager Angela Darrow.
The batch processing service is extremely useful in identifying both eligible business and employee addresses in order to efficiently complete current and retroactive tax credit projects. In addition, batch processing can be invaluable in evaluating new client prospects, or assisting with site selection projects.
Turnaround time is within three business days or less for batch screening. Results include a summary report and detail reports in both HTML and Excel, showing all major federal and state location based incentives and credits. Batch processing is available for an additional fee on top of Tax Zone Locator or CCH Tax Research NetWork subscription fees.
The Tax Zone Locator has also recently been enhanced so that California and Federal hiring credit tax forms auto-populate and the system provides fillable “voucher applications,” which are necessary to secure California Enterprise Zone hiring credits.
“We’re constantly working to optimize our subscribers’ workflow,” Darrow noted.
About the Tax Zone Locator
The Tax Zone Locator by NTCG provides detailed information on federal location-based tax incentives zones such as Empowerment Zones, Renewal Communities and Indian Tribal Land, as well as state Enterprise Zones for both pre-qualification and non-pre-qualification states. The Tax Zone Locator also provides a Zone Forms and Instructions Library and a Zone Coordinator Contact Database.
The coverage includes valuable location-based hiring credits; sales and use tax credits and exemptions; property tax credits and incentives; income and franchise tax credits; and investment credits.
Due to the historical complexities of identifying the eligibility for, and calculation of, these federal, state and local incentives, generally fewer than 10 percent of taxpayers or their CPAs claim these valuable benefits.
“With the Tax Zone Locator, there is no excuse for leaving this money on the table,” Darrow said. “These tax breaks can offer private and publicly traded businesses with a significant competitive advantage as a result of: lower effective tax rates, lower after-tax equipment and/or labor costs, increased tax refunds and improved cash flow, while improving the communities they operate in.”
For More Information
For more information on batch processing or to subscribe to the Tax Zone Locator, call a CCH sales representative at 1-888-CCH-REPS (1-888-224-7377) or visit CCHGroup.com.
About National Tax Credit Group, LLC
NTCG is a leading provider of comprehensive incentive tax credit and exemption address screenings for businesses throughout California and the United States. NTCG was founded by a group of leading tax experts, university professors and former Big 4 partners, senior managers and consultants. Through the use of proprietary software, NTCG provides comprehensive and cost-effective location-based tax incentive screening and consulting services to the financial services community.
About CCH, a Wolters Kluwer business
CCH, a Wolters Kluwer business (CCHGroup.com) is a leading provider of tax, accounting and audit information, software and services. It has served tax, accounting and business professionals and their clients since 1913. Among its market-leading products are The ProSystem fx® Office, CorpSystem™, CCH® Tax Research NetWork™, Accounting Research Manager® and the U.S. Master Tax Guide®. CCH is based in Riverwoods, Ill.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, and legal and regulatory sectors. Wolters Kluwer had 2006 annual revenues of €3.4 billion, employs approximately 18,450 people worldwide, and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, visit www.wolterskluwer.com.
