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Vertex Income Tax International moves at the speed of international business. With Vertex international tax software solutions, you can simplify the complexities of filing for foreign entities. Quickly handle the challenges of reporting tax information across different time zones and taxing systems. International tax software services from Vertex allows you to plan with the security of knowing that even amid changing entity structures, tax data is accurate.

Benefits

• Increases the accuracy of foreign reporting by automating the sourcing of non-U.S. income
• Reduces manual steps increasing accuracy and consistency by utilizing a sourcing template methodology
• Simplifies determining the international tax implications of foreign source income by tracking historical earnings and profits and foreign tax credits
• Executes ownership and tier calculations for foreign income inclusions, return of capital, and tax credits
• Integrates 1120 trial balance data for 1118 sourcing
• Manages sourcing of related party transactions
• Substantiates tax positions by creating a comprehensive audit trail
• Automates e-file transmissions
• Creates M-3 adjustments for U.S. corporations

Features

• Navigation and workflow are designed specifically to support needs of Tax Department
• Includes a library of over 300 reports that can be saved to Microsoft^® Excel^® and customized
• Maintains historical earnings and profits (E&P) and foreign tax credits by year and statutory grouping
• Automates look-through calculations for related party transactions and accurate income characteristics
• Allows the proper sourcing of income and direct allocation of expenses to statutory and residual groupings based on flexible/customizable apportionment methods and basis (e.g., gross sales, gross profit and net sales)
• Computes the applicable Subpart F, 956 and Section 78 gross up amounts for U.S. shareholders
• Determines sourcing and country detail for income inclusions of foreign operations
• Creates book/tax adjustments for deemed foreign income inclusions automatically.
• Tracks dividends by foreign tax credit baskets for dividend recipients
• Supports interest netting rules
• Maintains excess foreign tax credits by year and baskets to be used for foreign tax credit carry back and carry forward
• Automates the population of Forms 1118, 5471, 8858 and 8865
• Solution can be used independent of U.S. compliance
• Available on-demand (hosted) or on CD