IRS Turns to CCH for Reliable, Comprehensive Sales Tax Data

(RIVERWOODS, ILL., September 27, 2012) – For the eighth consecutive year, CCH has been selected by the Internal Revenue Service (IRS) to deliver comprehensive sales tax rate and taxability tables, supporting millions of taxpayers in preparing their returns. CCH, a Wolters Kluwer business is a leading provider of tax, accounting and audit information, software and services (CCHGroup.com).

“We are delighted to continue our partnership with the IRS by providing the latest updated rate and taxability information for every ZIP Code in the country,” said Scott Gruchot, CCH Vice President & General Manager, Corporate. “Delivering valuable multi-jurisdictional sales tax information gives us the opportunity to directly support millions of taxpayers and tax professionals who regularly integrate our solutions into their daily workflow, allowing them to make informed decisions based on the latest CCH tax data.”

New for 2012

For the first time, taxpayers will have access to granular tax districts rather than full-city tax rates. The ability to pinpoint specific municipal sales tax rates provides a higher degree of accuracy and enhances the taxpayer experience by allowing users to precisely identify their tax jurisdictions.

Data for Convenient Tax Return Preparations

Information for IRS tables, used by taxpayers to determine optional sales tax deductions for income tax returns, is generated from several CCH workflow tools, including thedatabase providing updated sales tax data for every ZIP Code, city, county and state in the United States and its territories. Tax information for IRS tables also comes from CCH’s IntelliConnect® research platform. By leveraging these solutions, CCH supplies the IRS with updated sales tax information for all U.S. tax jurisdictions.

CCH’s taxability and tax rate information for state and local jurisdictions supports the IRS’s online Sales Tax Deduction Calculator – available to taxpayers for filing 2012 income tax returns.  The data enables the IRS to list the average amount of sales tax – according to income and family size – that should be paid in each jurisdiction. These average amounts represent a “standard market basket” of consumer expenditures.

Taxpayers relying on these IRS tables can conveniently determine whether to deduct their state and local sales tax versus their state and local income tax – without having to save all their receipts throughout the year to tally sales tax that was actually paid.

In addition to providing data for the Sales Tax Deduction Calculator, CCH is also supplying the IRS with data related to the taxability rules for more than 500 Bureau of Labor Statistics spending categories.

For More Information

To learn more about CCH’s sales tax calculation capabilities offered through its CorpSystem® Solutions, please contact a CCH sales representative at 1-866-513-CORP (1-866-513-2677). More information is also available by visiting CCHGroup.com/CorpSystem.

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. Among its market-leading solutions are The ProSystem fx® Suite, CorpSystem®, CCH® IntelliConnect®, Accounting Research Manager® and the U.S. Master Tax Guide®. CCH is based in Riverwoods, Ill. 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.

AUTHOR

Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency. Wolters Kluwer Tax and Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

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