Deloitte announced today that it has received multiple awards from the 2023 International Tax Review (ITR) Americas Tax Awards, recognizing the organization’s achievements in delivering innovative solutions to clients across the U.S. In addition to being named “Tax Technology Firm of the Year,” Deloitte also scooped up top honors for “U.S. Transfer Pricing Firm of the Year,” “Tax Compliance and Reporting Firm of the Year,” and “Tax Innovator of the Year.”
“Deloitte is honored to once again be recognized by ITR for delivering innovative solutions designed to address our client’s most difficult challenges,” said Carin Giuliante, chair and CEO, Deloitte Tax LLP. “As the global tax landscape undergoes unprecedented transformation driven by new regulations and evolving technologies, we take immense pride in our dedicated Deloitte professionals who steadfastly collaborate with our clients and help them navigate their tax priorities, leveraging invaluable insights and state-of-the-art technology.”
The 2023 ITR Americas Tax Awards highlight how Deloitte’s dedication to technological innovation continues to generate enduring value for its clients. This is accomplished through several strategies, which encompass:
International Tax Compliance Review: Deloitte is revolutionizing the international tax compliance review process through its pioneering International Tax Global Compliance Reviewer Suite. In contrast to the traditional entity-by-entity approach, the suite streamlines the process by extracting and transforming data from tax software reports, year-end provisions, compliance workpapers, and federal e-file submissions. The suite generates detailed analytics for all entities, expediting the validation of international calculations and schedules in client e-file submissions. This iterative process empowers timely compliance readiness and fosters precision across various stages, such as trial balances, E&P adjustments, intercompany mapping, income sourcing, and expense apportionment.
Streamlined Statutory Tax Credit Programs: The T4WOTC™ Platform by Deloitte simplifies the data gathering required for Deloitte clients to calculate the Federal Work Opportunity Credit (WOTC). Designed to meet the IRS criteria for WOTC, which incentivizes businesses hiring individuals that are members of certain targeted groups, the platform streamlines credit calculations by gathering data essential for computing the WOTC. The platform seamlessly integrates with applicant tracking systems (ATS), leveraging advanced API’s and pre-existing candidate data to expedite the data-gathering process. The T4WOTC Platform also features an administrative dashboard for monitoring engagement status, amount of tax credit, and a summary of the tax credit’s targeted groups.
State Tax Compliance and Reporting for Investment Management Firms: Deloitte’s iPACS State Model Platform is an innovative solution streamlining complex state tax reporting and compliance challenges for investment managers. Integrated within the iPACS ecosystem, the platform optimizes state tax compliance and reporting processes, benefiting practitioners and clients alike. The State Investor Reporting module introduces advanced technology for adaptable calculations, automated tasks, and customizable reporting, addressing state tax complexities with efficiency. The Tax Return Automation Module (TRAM) further enhances efficiency by enabling rapid, standardized state tax return preparation, automated bulk printing, e-filing readiness, and real-time access to client-level tax data.
Data Preparation Technology: Intela Data Preparation Technology simplifies data collection and standardization for tax professionals, transforming intricate tasks into streamlined processes. The user-friendly data transformation steps produce reusable recipes, harmonizing data across sources. The technology collaborates with Intela’s machine learning to classify book data into tax-sensitive formats, enhancing compliance and planning. Intela Data Prep significantly reduces data manipulation time, empowering tax professionals to focus on value-added activities.
“At Deloitte, we combine world-class business knowledge with a full command of technology to engineer a tailored, informed, tech-forward future,” said Chuck Kosal, chief transformation officer, Deloitte Tax LLP. “The 2023 ITR awards underscore our team’s hard work and commitment to leveraging the latest solutions to drive transformation and efficiency for our tax clients. At Deloitte, our commitment to innovation is unwavering, as we understand that leading in this dynamic environment enables us to provide tangible answers to significant challenges our clients face. As we step into the next chapter of tax, we are excited about the path ahead and the substantial rewards it promises.”
The 18th annual Americas Tax Awards from ITR recognize significant achievements and innovations that highlight creativity and ingenuity. The awards recognize efforts that pioneered novel approaches in the tax industry and were executed between January 2022 and January 2023.
About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte’s approximately 457,000 people worldwide connect for impact at www.deloitte.com.
