FIN48 Solutions Group, LLC

FIN48 TaxTrac® is a database software application created by FIN48 Solutions Group, LLC to handle a complex problem – complying with FASB Interpretation No. 48 (FIN 48), Accounting for Uncertainty in Income Taxes.  Use it to document, organize and analyze information required under the Interpretation.

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FIN48 TaxTrac® is designed to provide a comprehensive, controlled, and simple method for the analysis and storage of the information required under FIN48. The software was also developed to respond to the needs of a variety of tax departments – both large and small. Many companies do not have the resources, talent, or time (often because of reporting deadlines) to develop or identify an analytical and repository option for compliance with FIN 48. As a result, they often rely upon Excel spreadsheets, or other methods, which allow them to meet the immediate requirements under the Interpretation. Typically, these methods lack reports and critical controls required for disclosure requirements and SOX compliance. Our software includes both features.

 

 

The software is based on the popular Microsoft Access database (versions 2003 and 2007) and is fully customizable. Simple and intuitive, the system is menu driven with tabbed options. Standard Microsoft features are included, such as resizing panels, drag and drop, copy and paste, hyperlinks, and other features. These features make the application extremely user-friendly, and familiar to all MS-Office users. Additionally, limited IT department involvement is required. Once implemented, the software can be maintained within the Financial and Tax departments.

Help text, message boxes, and extensive comment fields are used for documenting tax positions. Unlimited hyperlinks can be attached to each tax position record to store reference and support files. Many data input fields offer drop-down boxes for the user to select from a list of acceptable values. This provides control over input data and helps maintain the integrity of the database.

The system is independent of the tax compliance environment. It does not rely on a specific system used for traditional corporate tax compliance. The application uses a series of tables that can be imported from any standard file format such as comma delimited (csv), downloaded from the company’s corporate tax system, or manually input into the application’s table maintenance function. Alternatively, data can be imported to the tables from standard spreadsheet files.

 

 

FIN48 TaxTrac® is competitively priced and can be licensed on a single or multi-site basis.  Full source code is also available for those companies that wish to extensively modify the database table structures, forms and reports.