TAX TECHNOLOGIES ANNOUNCES FIRST INTERNET-BASED AUDIT ISSUE TRACKING AND DOCUMENT MANAGEMENT SOFTWARE
Haworth, NJ, January 23, 2002 – Tax Technologies Inc., a leading provider of Internet-based tax software,
today announced a controlled release of AuditTrackerTM (www.AuditTracker.com), a new product that streamlines
the audit processes and various adversarial proceedings. AuditTracker helps manage the audit workflow and response
process, simplify status tracking, risk assessment, document retrieval and retention, and the review process.
"AuditTracker will revolutionize the corporate audit process. Our clients asked us for an easier way to
manage the complexities of audits. They suffer through voluminous document requests, document retention
requirements and the burden of quantifying the impact of audit adjustments on the bottom line," says JD Choi,
Chief Executive Officer of Tax Technologies. "AuditTracker is the most flexible and direct way to manage
the process and gain procedural advantages in any adversarial forum."
AuditTracker supports a wide variety of issues that impact the outcome of an audit. This includes support
for RAR (Revenue Agent Report), IDR (Information Document Request), Form 5701 and internal audit adjustments.
A flexible document search capability makes it easy to find all supporting documentation while preparing responses
or assessing risk – all documentation and history is accessible within three clicks of the mouse.
The burden of document retention and maintaining document history are automated and simplified by AuditTracker.
Tax directors are keenly aware of the difficulties of finding supporting documentation for tax returns due
to the time lag between filing the tax return and the start of audits. AuditTracker preserves and retrieves
original tax returns with supporting documents, helping the tax department save significant time in responding
to audit issues raised by various audit jurisdictions.
Not only does AuditTracker support the federal, state, local, international, and the sales and use tax
audit function, it also supports cross-jurisdictional audit risk management. Using AuditTracker, a tax
department can assess the impact of conceding an issue from one jurisdiction on other jurisdictions and
therefore quantify the impact on the overall tax liability of the company.
Although it was developed primarily to address the issues related to tax audits, AuditTracker can also
be used as a work process and document retention tool for financial audits, SEC investigations and other
adversarial proceedings.
AuditTracker is a web-native product, offered as either a hosted Internet or plug-in intranet solution.
It is easy to setup and requires little training and customization. Tax Technologies continues to team with
IBM e-business Hosting to offer a suite of hosted applications. Pricing varies based on corporate complexity
and warehousing needs. For more information, companies, accounting firms and law firms can call toll-free
(866) 239-4884, e-mail
info@taxtechnologies.com or visit
www.AuditTracker.com.
About Tax Technologies
Tax Technologies, Inc. is a technology-driven tax services company and leading provider of Internet/Intranet-based
tax software. With a variety of Fortune 500 clients using its suite of web-native tax software products
(TaxSeries) and audit products (AuditTracker), Tax Technologies assists with the preparation of tax
returns, the improvement of tax process, implementation of tax software, and the development of custom
applications to meet client’s tax and financial reporting demands.
The company’s headquarters are in Haworth, New Jersey, with the technology headquarters in Bradenton,
Florida. Further company information is available at
www.taxtechnologies.com.
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