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- A variety of data can be imported including a trial balance, a client organizer, and tax forms.
- Live APIs are currently available for the following tax forms, 990, 1040, 1041, 1065, and 1120.
- GoSystem Tax RS makes good use of tax organizers, allowing users to access the client organizer or the tax forms.
- The software serves clients filing all return types — including multitiered consolidated corporate returns, life insurance returns (including mixed group filings), and tax equalization returns.
- GoSystem Tax RS from Thomson Reuters is part of the CS Professional Suite of applications.
- See how GoSystem Tax RS provides a sophisticated web-based system that provides the power to handle your most complex tax scenarios.
GoSystem Tax RS: Complete Demo
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The product also works offline, with data synching with the core application upon reconnection. Used by the top 100 CPA firms, Thomson Reuters GoSystem Tax RS is the market leader for corporate tax departments. The software serves clients filing all return types — including multitiered consolidated corporate returns, life insurance returns (including mixed group filings), and tax equalization returns. Because all work is handled online, you’ll pay less in maintenance costs, face fewer storage issues, and rest easy with assured business continuance.
Tax planning & preparation
GoSystem Tax RS does not currently offer a portal directly within the application, though it does integrate with the NetClient CS Portal. The portal offers easy document exchange between clients and firms, with clients provided secure access to the portal, where they can upload or download documents at any time. Data importing options are also outstanding in GoSystem Tax RS, with users able to import data from just about any accounting system. A variety of data can be imported including a trial balance, a client organizer, and tax forms. GoSystem Tax RS from Thomson Reuters is part of the cash receipts journal CS Professional Suite of applications. Available exclusively online, GoSystem Tax RS was one of the pioneers of online tax compliance, with firms able to access the application using an online virtual office or as a SaaS application.
For more complex tax workflows, we offer the ability to customize an API solution that fits your business best. Though it’s a common practice throughout the accounting profession to collect client data via an Excel workbook and then manually re-enter that same data into accounting software, it’s also a known vulnerability in managing cost and time. Berkowitz Pollack Brant found significant improvements to efficiency by creating processes which reduced or removed the need for this kind of repetitive, manual data entry. GoSystem Tax RS offers complete integration with other CS Professional Suite applications which include Accounting CS, Workpapers CS, Trial Balance CS, Write-Up CS, and both FileCabinet CS, and GoFileRoom, mentioned earlier. Tackle the most complex tax returns, such as multitiered consolidated return processing for corporations and partnerships.
Understanding the Tax Relief for American Families and Workers Act of 2024
A variety of online tools and resources are also available to users through the password protected website, including access to a robust user community. Users can also utilize the Help and How-To Center for access to a searchable knowledgebase as well as the GoSystem Tax RS support page, which includes access to product updates and new releases, as well as detailed user training information. GoSystem Tax RS supports both federal and state e-filing, with users able to review, edit, and validate any completed return prior to e-filing. GoSystem Tax RS supports multiple users, making it easy for a team to work on a return simultaneously.
GoSystem Tax APIs enable you to automate tax workflow processes related to e-Filing, printing, and importing/exporting tax return data. Save time on return filing by letting our solutions import in real time hundreds of partners into a partnership return or update a specific value within the tax return using live APIs. The GoSystem Tax APIs enable firms to automate tax workflow processes related to e-Filing, printing, and importing/exporting tax return data. Import hundreds of partners into a partnership return or update a specific value within a tax cost of debt return in real time using one of the 38 GoSystem Tax APIs available on the Developer Portal.
Accounting CS
GoSystem Tax RS also features an automatic calculation option, allowing users to view return calculations as information is entered with an option to turn the feature off if desired. Leveraging APIs, BPB streamlined the activity of their workbooks by implementing an automated process that enables one time data bookkeeping clean up entry for 1065 federal engagements. Peter Walker of Berkowitz Pollack Brant shares how the firm used GoSystem Tax APIs to automate one-time data entry for 1065 federal engagements. Process individual, corporate, and partnership returns with timesaving tools, such as the Allocation and Apportionment module.