Haworth, NJ, February 28, 2001 – Tax Technologies e8865 product simplifies the filing of the newly required Form 8865, providing full support for the Tax Year 2000 form, electronic filing, and complex calculations.

"Many companies are struggling to understand the new reporting requirements associated with controlled foreign partnerships. We want to ensure all of our clients comply with the reporting requirements because failure to comply can result in substantial penalties," says JD Choi, Tax Technologies CEO. "This application goes beyond the form and helps train tax personnel while automating income sourcing, expense apportionment, and partnership allocation calculations."

Because this is a new filing requirement, some legacy tax software vendors are unable to offer support for the Form 8865. Others are only able to offer basic support for the form. Tax Technologies e8865 provides comprehensive support for every aspect of the Form 8865, supporting schedules, and calculations.

Large partnerships that have an interest in foreign partnerships can also use e8865 in conjunction with e1065 to file the return electronically in compliance with the IRS electronic filing requirements. IRS acceptance of Tax Technologies e1065 for e-filing does not constitute IRS endorsement or approval of the quality of tax preparation services provided.

Because the product is Internet/Intranet-based, it is licensed for an unlimited number of concurrent users. Pricing varies based on the number of annual filings and functionality needs. For more information, companies or accounting firms can call (866) 239-4884, e-mail info@taxtechnologies.com or visit www.taxtechnologies.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.