Tax

• New Content – RIA Reference Guides for UltraTax CS
• New Integration – UltraTax CS integration with PPC’s Core Deskbooks
• New Content – Practitioners Tax Action Bulletin
• New Content – BNA State Tax Survey Charts
• New Content – IBFD: Latin American Tax Survey
• New Content – IBFD: European Tax Survey
• International Create-a-Chart updates

Financial Reporting & Management

• New Content – Government Auditing Standards (the “Yellow Book”)
• New Content – Derivatives: Financial Report Newsletter

General

• Name Change: Checkpoint Instant Assistant now Checkpoint On-Demand Training
• News Flash and Intraday Updates

Overview

Thomson Tax & Accounting continues to invest into the technology of Checkpoint and broaden the scope of content available in several practice areas.

This latest launch features new content, updates and enhanced integration with another outstanding Thomson Tax & Accounting product: UltraTax CS.

The brand-new series of RIA Reference Guides are designed specifically for Checkpoint subscribers using UltraTax CS. They provide a true point-to-point link from each data entry tab section on the UltraTax CS input screen to a single analysis document – a fantastic time-saver. Plus, UltraTax CS is also now linked to PPC’s Core Deskbooks. Now, from the input screen for UltraTax CS Form software 1040, 1065, 1120 and 1120S, you can link directly to the relevant key issues and practice aids in the corresponding PPC Deskbook to which you subscribe. Also in the tax area, you will find new BNA State Tax Survey charts (a new module within Create-a-Chart) plus new IBFD Tax Surveys on the topics of Latin American Tax and European Tax. Now also Corporate Tax Rates, VAT Rates and Individual Income Rates are available as an add-on to the International Tax Create-a-Chart.

Outstanding new Financial Reporting & Management content added to Checkpoint this month includes: the Government Auditing Standards (the “Yellow Book”), which contain important revisions from January 2007, and the Derivatives: Financial Report newsletter (previously only available in print).

This launch also brings further functionality enhancements to Checkpoint with features such as the brand new News Flash, Intraday Updates and the re-named Checkpoint On-Demand Training (formerly the Checkpoint Instant Assistant).

These ongoing enhancements and additions illustrate why Checkpoint is used by more top corporations, accounting firms and law firms in the market than any other online research service.

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Tax

New Content: RIA Reference Guides for UltraTax CS – RIA has created a series of titles specifically for UltraTax CS users– the RIA Reference Guides. These new publications interface directly with UltraTax CS input screens.

Now UltraTax CS users with Checkpoint subscriptions to the new RIA Reference Guides can link directly to a single analysis document - right from the input screen. Now you can get immediate answers to your tax return preparation questions without spending valuable time keyword searching or browsing a table of contents. Simply click on the RIA icon from any data entry tab section, and depending on your subscription, Checkpoint will retrieve the guidance and analysis related to that section. Answers are just a click away – even in the middle of completing a return. The direct link streamlines tax return preparation, and enables you to produce more returns in less time with fewer disruptions.

New RIA Reference Guides now available:

• WU40 RIA 1040 Reference Guide for UltraTax CS
• WU40T RIA 1040 Reference Guide for UltraTax CS with Tax Alerts
• WU40D RIA 1040 Reference Guide for UltraTax CS with Tax Desk
• WU4TT RIA 1040 Reference Guide for UltraTax CS with Tax Desk and Tax Alerts
• WU4TD RIA 1040 Reference Guide for UltraTax CS with Tax Alerts and PPC’s 1040 Deskbook
• WU65 RIA 1065 Reference Guide for UltraTax CS
• WU65T RIA 1065 Reference Guide for UltraTax CS with Tax Alerts
• WU65D RIA 1065 Reference Guide for UltraTax CS with Tax Desk
• WU6TT RIA 1065 Reference Guide for UltraTax CS with Tax Desk and Tax Alerts
• WU6TD RIA 1065 Reference Guide for UltraTax CS with Tax Alerts and PPC’s 1065 Deskbook
• WU20 RIA 1120 Reference Guide for UltraTax CS
• WU20T RIA 1120 Reference Guide for UltraTax CS with Tax Alerts
• WU20D RIA 1120 Reference Guide for UltraTax CS with Tax Desk
• WU2TT RIA 1120 Reference Guide for UltraTax CS with Tax Desk and Tax Alerts
• WU2TD RIA 1120 Reference Guide for UltraTax CS with Tax Alerts and PPC’s 1120 and 1120S Deskbooks
• WU41 RIA 1041 Reference Guide for UltraTax CS
• WU41T RIA 1041 Reference Guide for UltraTax CS with Tax Alerts
• WU41D RIA 1041 Reference Guide for UltraTax CS with Tax Desk
• W41TT RIA 1041 Reference Guide for UltraTax CS with Tax Desk and Tax Alerts
• W41TD RIA 1041 Reference Guide for UltraTax CS with Tax Alerts and PPC’s 1041 Deskbook
• WU706 RIA 706 Reference Guide for UltraTax CS
• WU76T RIA 706 Reference Guide for UltraTax CS with Tax Alerts
• WU76D RIA 706 Reference Guide for UltraTax CS with Tax Desk
• W76TT RIA 706 Reference Guide for UltraTax CS with Tax Desk and Tax Alerts
• W76TD RIA 706 Reference Guide for UltraTax CS with Tax Alerts and PPC’s 706/709 Deskbook
• WU990 RIA 990 Reference Guide for UltraTax CS
• WU99T RIA 990 Reference Guide for UltraTax CS with Tax Alerts
• WU99D RIA 990 Reference Guide for UltraTax CS with Tax Desk
• W99TT RIA 990 Reference Guide for UltraTax CS with Tax Desk and Tax Alerts
• W99TD RIA 990 Reference Guide for UltraTax CS with Tax Alerts and PPC’s 990 Deskbook

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New Integration: UltraTax CS Integration with PPC’s Core Deskbooks – A PPC icon is now visible at the top of each input screen to users of UltraTax CS Form software 1040, 1065, 1120 and 1120S. This PPC icon enables you to link directly from any data entry tab section to the relevant key issues and practice aids in the corresponding PPC Deskbook to which you subscribe on Checkpoint.

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New Content: Practitioners Tax Action Bulletin – This new bulletin on Checkpoint goes beyond a traditional newsletter to give you practical, action-oriented advice. Issued twice a month, this service keeps you informed about emerging tax issues, while enabling you to stay in touch with your clients throughout the year.

With Practitioners Tax Action Bulletin professionals with small practices and limited resources gain peace of mind by knowing they are on top of emerging tax issues – especially during tax season when they are otherwise preoccupied with getting returns out the door. Subscribers receive:

• Practical guidance with numerous examples
• Client letters to effectively communicate legislative and regulatory changes affecting compliance
• Easy-to-read summaries of current developments as well as more in-depth coverage where required
• Coverage of complex practice areas as well as traps to avoid for the unwary
• Links to cited source materials and the ability to access all related content on one platform
• Ability to link between different components of the bulletin
• Printable PDFs
• E-mail delivered on the issue date
• Mid-year and year-end planning letters
• Annual return preparation checklists

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New Content: BNA State Tax Survey Charts – Forty-eight states, the District of Columbia and New York City participated in BNA’s annual survey of state tax departments. This new product on Checkpoint is displayed as a new module within Create-a-Chart and poses many questions aimed at clarifying state tax department positions on the gray areas of corporate income tax and sales & use tax.

Among the 160 charts included in this product are:

- types of activities that would create income tax nexus
- deductibility of state and local income taxes
- conformance to IRC Section 338(h)(10)
- treatment of bankruptcy issues
- treatment of intangible holding companies
- state throwback and throw out rules

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New Content: IBFD’s Latin American Tax Surveys – Written by a staff of multinational experts and consultants from around the world, IBFD’s Latin American Tax Surveys provides the most complete information currently available on Latin America taxation.

Latin American Tax Surveys is the single most authoritative and complete review of tax systems in operation in Latin America. Common-format country chapters provide information on all countries and jurisdictions in Latin America. Among the benefits of subscribing to IBFD’s Latin American Tax Surveys on Checkpoint:

• Access to daily tax news items concerning the region.
• Common format chapters make comparisons far simpler.
• Hyperlinked text allows you to click through to other sections containing related information.
• Updated whenever changes occur.

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New Content: IBFD’s European Tax Surveys – Written by a staff of multinational experts and consultants from around the world, IBFD’s European Tax Surveys provides the most complete information currently available on European taxation.

European Tax Surveys is the single most authoritative and complete review of tax systems in operation in Europe. Common-format country chapters provide information on all countries and jurisdictions in Europe, plus Canada and the United States. A separate chapter on the tax rules of the European Union is also included.

With IBFD’s European Tax Surveys you’ll find:

• A clearly set out digest of essential information.
• Information respected by tax professionals and financial consultants throughout Europe and the world.
• Rapid and accurate access to precise information and direct comparisons between countries.

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Update: International Create-a-Chart Updates – Corporate Tax Rates, VAT Rates and Individual Income Rates are now available as an “add on” to the International Tax Create-a-Chart product. Once a rate is selected, you will be able to select a Region from which to compile a chart. Seven regions are available: Africa, Asia-Pacific, Caribbean, Europe, Latin America, Middle East and North America.

Each Region is expandable and the countries are listed under their respective region. The new chart type makes the content even more accessible – additionally, new content has been added for more chart-building possibilities. From those charts you can now even link to World Wide Tax Library source data!

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Financial Reporting & Management

New Content: Government Auditing Standards – The addition of the Government Auditing Standards (or the “Yellow Book” as they are commonly referred to) to Checkpoint provides access to this important source material and to interpretive guidance from WG&L all from a single platform. Rather than toggling back and forth between Checkpoint and the GAO’s website, you can now browse the expert guidance in WG&L’s Governmental Accounting & Auditing Library, for example, and search Government Auditing Standards, all from one source, in the completely searchable Checkpoint format.

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New Content: Derivatives: Financial Report Newsletter – This comprehensive newsletter analyzes the tax, accounting and regulatory issues in the rapidly changing world of financial instruments, strategies and structured products. With coverage of rules and announcements from the IRS, SEC, and FASB, as well as from key court decisions, Derivatives gives investors and their advisors the tools needed to plan the most profitable investment strategies.

Previously available only in print, Derivatives is now available on Checkpoint. Your Checkpoint subscription will also include access to archived newsletters from January 2005 to the present.

Financial products and corporate tax shelters are the latest to fall under intense IRS scrutiny, and financial derivatives are often a key component of both. Given the complexity and financial risks involved in these transactions, coupled with uncertain tax consequences, Derivatives gives you all the information you need to ensure that your transactions can withstand the scrutiny. Information gleaned from Derivatives is also of critical importance to financial engineers charged with designing instruments.

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General

Update: Checkpoint Instant Assistant Re-Named – Checkpoint Instant Assistant, the new training tool on Checkpoint, has been re-named Checkpoint On-Demand Training. You can access Checkpoint On-Demand Training from the Home tab, under Training & Support.

News Flash and Intra-day Updates – As critical breaking news occurs, Checkpoint will now provide a ‘news flash’ on screen. To receive the News Flash, subscribe on the Newsstands options page. Also, a lightning bolt will appear next to the Home tab whenever there is a News Flash.

Intraday Updates can be compared to a morning, noon or evening news broadcast – and again as critical breaking news occurs, you can now receive an e-mail alerting you to that event.

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