Haworth, NJ, July 3, 2006 - Tax Technologies, Inc. (TTI) becomes the first vendor to provide software (eFileReviewer™) that enables corporate tax departments to review e-file content before they submit the file to the IRS.

TTI’s eFileReviewer allows companies to import XML files that are based on IRS Modernized e-file (MeF) specifications and creates a PDF of tax forms so that the content of the XML file can be reviewed before it is submitted to the IRS. Using eFileReviewer, companies can upload an XML file, select which portion of the tax return contained in the XML file they want to produce in PDF format, and generate tax returns so that they can compare the content of the XML file to the paper file produced by their own tax preparation software. This is invaluable because an average tax preparer cannot review the content of an XML file. Given that there are over 17,000 data elements that each software vendor has to map from the paper returns prepared using their software to the IRS e-file format, the XML file content produced could conceivably be different from that of the paper returns.

Such innovative functionality allows companies' executive teams to ensure that the tax return they are signing contains the data they intended to file with the IRS. One executive who licensed and uses eFileReviewer said, “It is a no-brainer. I cannot file a return without confirming that the XML file has exactly the same information as we intended to file with the IRS. Without using eFileReviewer, I cannot review the final return.”

Additional features of eFileReviewer include the following:

• Works with e-files generated from all IRS-approved corporate tax software packages
• Runs in a Web browser and requires no installation
• Starts up quickly
• Produces easy to read PDF documents in the format the IRS accepts for paper returns
• Provides an easy, three-step process for reviewing e-files
• Provides versioning of reviewed copies for iterative review
• Provides XML content review for specific forms in conjunction with the PDF
• Handles even the largest e-files
• Provides on-screen review for managers and executives before final submission to IRS
• Creates a PDF version of the “As-Filed” return that is suitable for printing and archiving
• Stores the final version of an e-file for retrieval at a later date
   

Tax Series eFileReviewer is available for the Tax Year 2005 compliance season. For more information, contact TTI toll-free at (866) 239-4884, e-mail our Sales Department at sales@taxtechnologies.com, or visit http://www.taxtechnologies.com/products/eFileReviewer/default.htm.

About Tax Technologies
Tax Technologies, Inc. is a technology-driven tax services company and leading provider of Internet-based tax software. With a variety of Fortune 500 clients using its suite of Web-native tax software products (Tax Series), TTI provides global tax management solutions to large corporate clients.
 

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