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CCH and IRS Extend Partnership for Delivering Comprehensive Sales Tax Data
(RIVERWOODS, ILL., June 28, 2011) – For the seventh consecutive year, CCH has been selected by the Internal Revenue Service (IRS) to deliver comprehensive sales tax rates tables for use by taxpayers. Under the agreement, CCH will deliver state and local sales tax rates tables to the IRS Office of Research. The state and local sales tax tables will be made available to taxpayers for filing 2011 income tax returns and support the agency’s online Sales Tax Deduction Calculator. CCH, a Wolters Kluwer business is a leading provider of tax, accounting and audit information, software and services (CCHGroup.com).
Information for the IRS tables, used by taxpayers to determine optional sales tax deductions for income tax returns, is derived from numerous CCH workflow tools, including CorpSystem ZIPSales® Lookup database, providing updated sales tax data for every ZIP Code, city, county and state in the United States and its territories, as well as CCH’s IntelliConnect® research platform. Using the IRS tables, taxpayers determine whether to deduct their state and local sales tax versus their state and local income tax, without having the burden of saving all their receipts to tally the sales tax they actually paid. For the 2008 tax year, the most recent year for which data is available, about 11 million individuals claimed the general sales tax deduction with a value of $18 billion.
“We are very excited to be chosen by the IRS again to provide the latest updated rate and taxability information for every ZIP Code in the country,” said CCH President & CEO Mike Sabbatis. “Providing this multi-jurisdictional sales tax information strengthens our long-standing relationship with the IRS and gives us the opportunity to directly support millions of taxpayers, as well as the tax professionals they rely on, in making informed decisions based on CCH’s authoritative information.”
CCH Provides Rate, Taxability Data
CCH uses the CorpSystem ZIPSales Lookup database, among other tools, to supply the IRS with sales tax details for all U.S. ZIP Codes. CCH data relating to the taxability rules for more than 500 Bureau of Labor Statistics spending categories will be delivered to the IRS in August. CCH also uses a taxability matrix to determine if specific products are subject to sales or use tax in each taxing jurisdiction and supplies that data to the IRS. With the taxability and tax rate information for the various state and local jurisdictions, the IRS is able to determine the average amount of sales tax paid in each jurisdiction as a function of both income and family size. These averages appear in the IRS tables as a convenience for taxpayers who prefer not to rely on receipts to determine how much sales tax they pay.
About CCH, a Wolters Kluwer business
CCH, a Wolters Kluwer business (CCHGroup.com) is the leading global provider of tax, accounting and audit information, software and services. It has served tax, accounting and business professionals since 1913. Among its market-leading solutions are The ProSystem fx® Suite, CorpSystem®, CCH® IntelliConnect®, Accounting Research Manager® and the U.S. Master Tax Guide®. CCH is based in Riverwoods, Ill. Wolters Kluwer (www.wolterskluwer.com) is a market-leading global information services company. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.
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