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Overview
New Functionality
Payroll
Tax
Accounting & Auditing
Hidden Gems
- Enhancing PPC Guide Indexes
- 1954 Code Added
Overview
This release celebrates Checkpoint’s 10th Anniversary and 10 years
of leadership in the tax and accounting market. Since its introduction in
July 1997, Checkpoint has grown to become the leader in online tax and accounting
research.
This October release introduces an all new term to our Checkpoint vocabulary
--“Tracker.” The Tracker tool allows users to easily keep aware
of current or potential developments and is available in statutory and case
law documents. There are more tools across more areas of practice such as Payroll
Create-a-Chart, e-Tools for Internal Audit and Tax Alerts Linking to PPC Deskbooks.
More international content has been added including additional IBFD Regional
Databases and content for more countries for International Tax Expert. Plus,
a new Accounting and Compliance Alert eNewsletter, Public Company Accounting
and Auditing Update will be launched.
No other research platform on the market offers the depth and breath of content,
coupled with rich functionality, and the level of content integration you'll
find on Checkpoint.
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Bill Tracker
Bill Tracker enables Checkpoint users to easily check pending legislation
pertaining to the topic being researched. By clicking a Top Line or Side
Line Link, users are able to see at a glance how and which pending House
and Senate bills from the current Congressional session propose to amend
a particular Internal Revenue Code section, ERISA section, State statute,
or SEC statute (as well as any subsections, paragraphs, subparagraphs, clauses,
or subclauses therein). Bill Tracker is available free with a select number
of existing Checkpoint subscriptions.
Citation Tracker – Track It
Due for e release in mid-November 2007, Citation Tracker is subscription-sensitive
functionality that allows Checkpoint users to track developments on a Federal
tax case or IRS ruling. By clicking the Track It Top Line Link for a case
or ruling, the practitioner has the ability to receive email notification
when it is cited in a newly reported Federal tax case or IRS ruling, such
as:
• Revenue Ruling
• Revenue Procedure
• Notices
• Announcements
• AODs
• Treasury Decisions
• Letter Rulings which mean:
• TAMs
• PLRs
• FSAs
• CCAs
• SCAs
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Payroll Create-a-Chart on Checkpoint
Payroll Create-a-Chart is the latest addition in our line of
chart products on Checkpoint. Users can create the most up-to-date federal
and multistate payroll tax comparison charts, with hypertext links to explanations
in Payroll Guide. Charts will cover topics in withholding tax, unemployment
tax, wage hour rules, garnishment, wage payment, new hire, and abandoned
property. Subscribers simply select a chart type and any number of states
and/or federal to create comparison charts. Checkpoint will display the chart
in an easy to read format which subscribers can export to a Word or an Excel
document. Charts are dynamically updated and are always in sync with current
information and editorial explanations. Payroll Create-a-Chart provides
quick answers to federal and state payroll tax questions for multiple jurisdictions
in a convenient format.
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More IBFD Regional Databases Added to Checkpoint
For over 65 years, tax practitioners from all over the world have relied
on the International Bureau of Fiscal Documentation (IBFD) for authoritative
expertise on cross-border taxation. The following regional databases are
now available on Checkpoint, formerly only available for sale on IBFD’s
online platform. These databases are written and maintained in collaboration
with local experts from their respective countries and are the single most
significant source of information on taxation and investment in these regions.
These databases also alert practitioners to new developments in the tax and
investment regimes in each country or region.
• Taxation and Investment in the Caribbean
• Taxation and Investment in the Middle East
• Taxation and Investment in China
• Taxation and Investment in Canada
• Taxation and Investment in Africa (which includes South Africa)
• Taxation and Investment in Mexico (available through IBFD’s
Latin America database already available on Checkpoint)
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Corporate Income Tax Accounting (Coming Soon!)
The overlap between the disciplines of financial accounting and taxation has become
a critical intersection that has, and will, revolutionize the nature in which
companies take into account tax positions, as well as how the accounting for such
positions is reviewed and how tax advice is rendered. Corporate Income Tax
Accounting articulates the reality of financial accounting and tax compliance
in light of the new landscape faced by companies and sets out a means by which
companies can structure their tax planning and financial reporting in a manner
to efficiently meet all applicable requirements.
Written by experienced tax lawyers, Corporate Income Tax Accounting brings
together the disciplines of financial accounting and taxation. No chapter
illustrates this goal more clearly than Chapter 8, Specific Situations. Chapter
8 provides a catalog of specific substantive tax matters that commonly arise.
For each issue there is an illustration, a checklist of potential tax issues
and positions, the pertinent technical tax issues that apply, and the financial
accounting issues that will need to be addressed.
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Tax Alerts Linking to PPC Deskbooks
Tax Alerts, a product that provides users with recent tax developments
related to specific areas of compliance, now has new linking to related resources.
Links to PPC Tax Deskbooks gives practitioners an even more convenient way
of staying informed and easily obtaining more detail on the development.
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Enhanced content and functionality for International
Tax Expert (ITE)
Geographic coverage on our new International Tax Expert product
is significantly expanded, increasing the total number of countries to 120.
The following new countries will now be supported:
Algeria, Bahrain, Belarus, Bolivia, British Virgin Islands, Cameroon,
Croatia, Ecuador, Egypt, El Salvador, Estonia, Gabon, Gibraltar, Guatemala,
Iran, Isle of Man, Ivory Coast, Jamaica, Jersey, Kazakhstan, Kenya, Kuwait,
Latvia, Lebanon, Liechtenstein, Lithuania, Malawi, Mali, Monaco, Morocco,
Nicaragua, Oman, Pakistan, Paraguay, Qatar, Senegal, Slovak Republic, Slovenia,
Sri Lanka, Togo, Trinidad & Tobago, Tunisia, Ukraine, Uruguay and Vietnam.
There are also two time-saving enhancements to ITE’s Excel download
functionality. Users will now be able to export the calculation details from
the calculator tab to Excel with the calculation formulas embedded. This
will allow users to, for example, change the withholding tax rate used by
ITE and have the change automatically reflected in the total tax cost from
the cross border payment transaction. Users can also now export all tax rate
tables to Excel, then save the Excel reports, e-mail the reports, etc.
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WG&L's e-Tools for Internal Audit
WG&L's e-Tools for Internal Audit provide a comprehensive
end-to-end process for financial internal audits. The e-Tools provide step-by-step
audit programs covering each aspect of the audit, practical tips and suggestions,
and related checklists, forms, confirmation letters, and other essential
tools for performing specific steps.
WG&L's e-Tools for Internal Audit are provided in Microsoft®
Word and Excel format and include editable workpapers covering your entire
financial internal audit engagement, including audits of cash, accounts receivable
and payable, inventory, investments, and much more. They include value-added
productivity features that save completion and review time, including:
• Automatic entry of common engagement information
• One-click signoffs for programs and checklists
• Highlighting of unsigned audit program steps
• Reporting of audit program changes
• Math capabilities, with built-in formulas
• Controls over viewing and printing practical tips
• Quick fill-in features for confirmations and letters
• Tickmarks that work on all Word and Excel documents
Experience improved productivity and convenience right away!
• No learning curve -- you and your internal audit staff already use
Word and Excel
• No cutting and pasting from other documents
• Workpapers can travel with you and are easily accessible
• Easily share key documents with team members or others
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Enhancing PPC Guide Indexes
The functionality and presentation of the indexes in the PPC Tax Planning
and Accounting & Auditing products has been enhanced by organizing indexed
entries into expandable alphabetic folders. This enhancement will be reflected
as the annual updates are made on each guide.
Each index is no longer a single Checkpoint document thereby eliminating the
need to scroll the index for the desired entry. Each indexed entry includes
a link to the relevant paragraph in the Guide. This functionality and presentation
mirrors other topical indexes on Checkpoint, including core RIA research
libraries such as the Federal Tax Coordinator, United States Tax
Reporter and Tax Desk.
1954 Code Added
The complete Internal Revenue Code of 1954 has been included within this
launch. Now users can examine the history of the code as well as look
into the original intent of Congress for creating such provisions. This
code will be included in only certain product codes (WEB5, WEB5K, WTAX,
WTAXC, WTAXE, WTAXI, WTAXP, WTXEZ, and WYXPZ).
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