Combined Tax Reporting powered by Computrol eBASEŽ

CONSOLIDATED TAX REPORTING

Computrol's Consolidated Tax Reporting (CTR) gathers information from multiple accounts and multiple systems for tax reporting. It consolidates all tax information, centralizing inquiry and updates. Centralizing information improves quality and response time to customer questions and requests.

Consolidated Tax Reporting functions include:

Combined tax forms for customers, consolidating accounts and investments on one form

IRS file for transmission or tape

Correction and duplicate processing

Standard tax reporting

Consolidated tax reporting

Online access to tax data for research and customer service

For a graphical view of the Consolidated Tax Reporting System processing, see Consolidated Tax Reporting Processing Chart.

Each year Computrol reviews all reporting regulations and formats. Then we provide any changes or updates necessary to do the current year reporting, making the system cost effective for the user. Consolidated Tax Reporting stays up to date for regulations with no end of year hassle as laws or forms change.

Tax Forms

Each tax form record is a display of a physical tax form created for the customer. The information is accumulated from the individual systems of record. You may add or correct tax form records online in Consolidated Tax Reporting when appropriate.

Consolidated Tax Reporting currently supports these tax forms:

1042-S Foreign Person's U.S. Source Income Subject To Withholding

1098 Mortgage Interest

1099A Acquisition or Abandonment Of Secured Property

1099B Proceeds From Broker and Barter Transactions

1099DIV Dividends and Distributions

1099INT Interest Income

1099MISC Miscellaneous Income

1099PATR Taxable Distributions Received From Cooperatives

1099R Distributions from Annuities, Retirement or Profit-sharing Plans

1099S Proceeds From Real Estate Transactions

5498 IRA Contribution Information

Output Media

Consolidated Tax Reporting creates output in the prescribed IRS formats for the various tax forms. The run request allows you to specify tape, cartridge, transmission or disk as the output medium. It specifies the tax reporting year, the forms to produce, whether the forms are original, correction or duplicate and the output medium.

Tax Form Inquiry

All tax form records display on one screen with easy access to the detail information. You can quickly view the reported tax data by selecting the desired tax form from the list.

Corrected Tax Form Records
Consolidated Tax Reporting's online component provides the ability to correct tax forms. Select the tax form to correct and transfer to the correction screen to enter the updates. Consolidated Tax Reporting creates the appropriate tax form and/or IRS transmission. Note you do not have to print and transmit corrected forms at the same time.

Duplicate Tax Forms
To request a duplicate tax form, you simply locate the tax form record and request a duplicate.

New Tax Form Records
Consolidated Tax Reporting allows you to create a new tax form record, if necessary, perhaps as part of a correction. The process is the same as creating corrected tax form records.

Reporting

Consolidated Tax Reporting provides standard reports to balance the system from start to finish. You can balance from input interfaces and online activity to forms produced by the system, to the IRS magnetic media and to any third party vendors, such as a print vendor.

Consolidated Tax Reporting includes an optional parameter defined reporting system for ad hoc reporting and customer correspondence. You can quickly and easily create reports for one-time use or catalog them to print on a regularly scheduled basis. Customer service letters, marketing letters, and mailing labels can be customized with unique text and data extracted from the application files.

Consolidated Tax Reporting Information

Customer Data
Consolidated Tax Reporting provides online inquiry and maintenance to customers, beneficiaries and tax form data. You can search for a customer by name or tax identification number, allowing you to locate customer information more quickly. As you enter or modify data online, Consolidated Tax Reporting automatically updates the search information.

You can respond to customer inquiries, correct data and print duplicate or corrected forms during the conversation. While most tax reporting data is loaded via offline interface from systems of record, Consolidated Tax Reporting includes an online procedure for direct entry so new data can be entered in a more timely basis with fewer errors.

The customer record contains the customer demographic data. Customer records can accumulate tax information from any number of systems or accounts which provide transactions with tax implications. Representative data in the customer record includes:

Demographic data

Name and address

Birth date

Tax identification number

Open and close dates

Beneficiary
Beneficiary records contain the customer beneficiaries with their name, address, SSN, designation, relationship to the customer and percentage of interest.

Monetary History
Consolidated Tax Reporting maintains monetary transaction history for all tax forms it generates. This provides customer service representatives or researchers the detail information summarized on the form.

Message File
The message file contains any notes, ticklers, memos, tracking and reminder information you wish to add. For the most part, this data is defined by the user. One example of the use of this file might be to record the reason for creating a duplicate tax form.

Online Access

Consolidated Tax Reporting can easily be Web-enabled or connected to customer networks, PC’s, interactive voice systems, call centers or other data delivery systems using Computrol’s eBASEŽ tools.

Online screens are structured to allow quick and efficient data retrieval for research or customer service. Consolidated Tax Reporting also provides a detail view of each record. You may have search facilities to allow you to look up information using the customer short name or tax ID.

Consolidated Tax Reporting includes online security options which control what functions a user can access and what navigation they are allowed from a screen.

The online system includes a full help facility where help is available for the screen panel, individual fields, explanation of error messages, explanation of function keys and prompts or picking lists. Picking lists pop up a list of possible values for the field and allow you to mark the value to insert into the field.

Consolidated Tax Reporting has an add-on option to use Computrol's online screen building and maintenance system to tailor screens to your specific needs. All information in the Consolidated Tax Reporting database is available for display online.

Multi-Institution

Consolidated Tax Reporting is multi-institution with the flexibility to tailor the system to each institution's needs. Each institution can choose to have separate processing controls and run parameters. The parameters define controls for the tax year, the forms, the output medium and whether to produce original, duplicate or correction forms.

Archiving/Purging

The system provides an automated method for deleting records from the system. You may flag a record to delete from the system or request deletion of a logical group of records; e.g., records dated last year. When the system performs the archive/purge process, it removes the specified record and all records subordinate to it.

Interfaces

Interfaces include passing information to other systems and accepting input to Consolidated Tax Reporting from a client system of record. Consolidated Tax Reporting provides standard formats for customer information and monetary history information. Once the record is populated in the correct format, Consolidated Tax Reporting will process the information.

Computrol can develop optional customized interfaces with the systems of record, using the Application Interface Manager system or a COBOL program.

More Information

For additional information regarding Computrol’s Consolidated Tax Reporting system contact Computrol.