Preparing for and managing tax examinations grows more difficult every day. The enforcement environment demands more information with a shorter response time as the IRS streamlines its processes and expands resources. Many issues complicate the processes of preparing for and managing tax authority examinations, including the volume and scope of the examinations, as well as the related supporting information associated with them.
The resources and information necessary to support each examination will vary, both in range and complexity. The ripple effects of the activities can be far-reaching based on issues such as rollover adjustments, information necessary for your tax provision process and FIN 48 reporting, and internal controls required by Sarbanes-Oxley Section 404.
Never before has it been so important to be efficient, accurate and consistent in the way you manage your tax examination process. Traditional approaches that rely on spreadsheets, network drives, binders and file cabinets, and tax department resources cannot keep pace today or in the future.
Learn about Deloitte's new Web-based technology, Tax Controversy Manager.