Acquisition Enhances Firm’s Tax Transformation Capabilities
CHICAGO, May 1, 2019 – BDO USA, LLP, one of the nation’s leading professional services firms, is pleased to announce its acquisition of TAXPE LLC. Scott Hice, CEO of TAXPE, joined BDO as a Partner and National Leader of BDO’s Tax Transformation Services practice. The acquisition was effective on April 1.
Updating processes and advancing the use of technologies within a company’s tax function is becoming increasingly complex. Both changing tax laws and changing technologies have a direct day-to-day impact on the efficiency and effectiveness of the company workforce. As a part of BDO’s Tax Transformation Services practice, TAXPE now has the administrative backing of a global accounting firm; gaining access to BDO’s resources to better reinforce, broaden, and execute our core competencies for our clients through BDO’s comprehensive, end-to-end tax services.
The demands on corporate tax departments have become increasingly challenging to manage. Complexities in accounting for income taxes under US GAAP [ASC 740] and IFRS [IAS 12] are compounded by ever-increasing regulatory reporting requirements, data and communication challenges and pressure to minimize variances between tax planning, provision and the final tax filings with the taxing authorities.
The team at TAXPE has both tax technical and process-related backgrounds, and we've worked with companies of all sizes - this gives TAXPE the credentials to share our experiences and alternative ways to overcome your organization's process challenges. We work with you and your team to design optimized processes, organize source data and tax calculations, document the process and enhance the use of technology to streamline your tax reporting process.
Planning, provision and compliance - annual, interim, returns, estimates, audits. Engineer your end-to-end tax lifecycle.
Gather source data in the correct format, on time, with flexibility, so you can adapt to changes.
Document the repeatable and one-off tax processes and data collection, enhancing transparency and controls.
Selection, implementation and optimization. Increase the use of software functionality licensed by your organization, and use it more efficiently.
Compare current results to the plan and forecast. Compare current period results to past results to assist with review. Visualize data to help explain tax results to non-tax users within your organization.
We offer training on the new process, use of technology and tax technical areas. We typically assist you and your team with the initial 'go-live' period close process.