For the third consecutive year, the Internal Revenue Service has ranked UltraTax CS first in federal 1040 electronic filing acceptance rate as part of the agency's annual Software Error Reject Code Report.
UltraTax CS, a tax preparation software offered by the Tax & Accounting business of Thomson Reuters, earned a 95 percent acceptance rate in the 2010 IRS report, the highest of any vendor serving the practitioner industry with more than one million electronically filed returns.
"We work closely with our customers and the IRS to ensure that UltraTax CS is the most comprehensive and powerful tax preparation software available to accountants," said Teresa Mackintosh, CPA.CITP, senior vice president and general manager, Americas - Professional, Tax & Accounting business. "In fact, we have earned an average acceptance rate of 96 percent for the past five years, which shows that our efforts are benefitting our customers."
UltraTax CS enables tax and accounting professionals to electronically file federal 1040 and all 1040 states, as well as 1065, 1120, 1120S, 1041, and 990 returns. With a built-in depreciation module, spreadsheet import, comprehensive calculations, OCR data capture, data mining, and comprehensive integration with the other software in the CS Professional Suite, it improves productivity and accuracy and speeds workflow, according to the company.
"Placing first once again for overall acceptance rate is a tremendous accomplishment when you consider the volume and complexity of federal 1040 returns that are processed using UltraTax CS," said Scott Fleszar, vice president, strategic marketing, Workflow & Software Solutions, Tax & Accounting, Thomson Reuters. "With the pending mandate requiring all paid preparers to electronically file federal 1040 returns beginning in 2011, our customers can rest easy knowing that UltraTax CS is the top-rated system for 1040 electronic filing acceptance rate."
About Thomson Reuters:
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, health care and science, and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people and operates in over 100 countries.
The Tax & Accounting business of Thomson Reuters is the leading provider of technology and information solutions, as well as integrated tax compliance software and services to accounting, tax and corporate finance professionals in accounting firms, corporations, law firms and government. Headquartered in New York, Tax & Accounting has major operations in Dallas, Ann Arbor (Michigan), London, Sydney, and Toronto, and offices in nine countries.