Answer Path on Thomson Reuters Checkpoint
Company: Thomson Reuters, New York, NY
Company Description: Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world's most trusted news organization.
Nomination Category: New Product & Service Categories - Content
Nomination Sub Category: New Product or Service of the Year - Content - Search Technology Solution
Nomination Title: Answer Path on Thomson Reuters Checkpoint
Tell the story about this nominated product or service (up to 650 words). Describe its function, features, benefits, and performance to date:
Regardless of your level of experience or expertise, Answer Path will guide you to the right answer.
Staff in a CPA firm or tax department may search the Internet for fast, free answers to their tax questions; however, the results they find may be unreliable. They may be putting their firm or organization at risk with unreliable or outdated information. Plus, if the staff is inexperienced, they may not always be able to easily determine the right answer.
Regardless of a tax researcher’s level of experience or expertise, Answer Path will guide that person to the right answer. Whether looking for a quick answer or amount or a concise explanation of a topic with a clear path to more detailed guidance, Answer Path will direct you to trusted, up-to-date resources to answer your tax questions. This is critical when resolving issues encountered while preparing clients’ tax returns or advising them on proposed transactions, tax planning opportunities or life events.
With Answer Path, you’ll have confidence that you are providing your clients with expert tax advice no matter the scenario. This can lead to increased client retention and potentially add to the portfolio of services you offer your clients. You’ll also be able to provide staff with straightforward access to the trusted answers they need to resolve your clients’ tax issues. This can empower your team to do more returns independently, enhance employee engagement and reduce costly turnover.
You’ll be more confident in their work, so you can focus on the things that matter most to you.
As a tax professional, you must constantly work to stay up to date with tax changes. In fact, keeping up with the changes and complexity of tax laws and increased regulation remains the #1 challenge for sole practitioners and a top challenge for other small and medium-sized firms.*
Answer Path from Thomson Reuters Checkpoint was designed based on customer feedback and provides a fast path to trusted answers on topics relating to preparing and filing Federal individual income tax returns. Reduce complexity, speed your tax process and increase confidence in your results.
Based on the nature of your search, Answer Path will provide one or both of the following:
- Orientation Documents
- Orientation Documents will start you down your research path with the basic rules explained in plain English, the applicable Code Section(s), links to frequently needed materials (such as practice aids and Forms instructions) and subscription-sensitive links to more detailed coverage in other trusted sources (such as the Federal Tax Coordinator and PPC® Deskbooks) when you need to go further.
Quick Tax Amounts
- Quick Tax Amounts provide quick and accurate answers to common tax questions in personal or business-related transactions such as “what’s the standard mileage rate?” or “what’s the maximum adoption credit allowed?”
Answer Path results change as you type in the keyword search field, allowing you to refine your search and immediately see results without having to perform a new search or navigate through a list of search results.
Answer Path from Thomson Reuters Checkpoint — the path to trusted answers for your tax research.
*Source: AICPA.org, PCPS CPA Firm 2015 Top Issues Survey
In bullet-list form, briefly summarize up to ten (10) of the chief features and benefits of the nominated product or service:
1. Directs you quickly and easily to resources to answer your tax questions related to preparing and filing Federal individual income tax returns
2. Provides new or inexperienced tax researchers with a direct path to follow to reliable answers and resources, yet is relevant for all researcher regardless of experience levels
3. Reduces complexity, speeds the tax research process and increases confidence in results
4. Provides Orientation Documents (basic rules explained in plain English) and/or Quick Tax Amounts (quick answers to common questions related to personal or business-related transactions) depending on the search
5. Researchers have the ability to get a fast answer, or continue their research and dive more deeply or get to source materials on Checkpoint (subscription-depending)