CCH Launches CorpSystem Sales Tax Compliance Services

(RIVERWOODS, ILL., September 1, 2010) – Now, accounting and tax departments
can save valuable time and labor by shifting their sales and use tax returns
preparation and filing work to CCH, an industry leader in tax for nearly 100
years. With CorpSystem® Sales Tax Compliance Services, companies can leverage
the expertise of CCH and be assured that sales and use tax returns are filed
completely, accurately and on time. CCH, a Wolters Kluwer business is a leading
global provider of tax, accounting and audit information, software and services
(CCHGroup.com).

“Sales Tax Compliance is typically a two-week fire drill that happens
each and every month and takes away valuable staff time from other far more
productive activities,” said CCH Director of Corporate Market Strategy
Tom Stitt. “Moving these functions outside of the firm and into the hands
of CCH – one of the most recognized and trusted leaders in the tax compliance
world – can generate significant cost savings while simplifying operations.”
How It Works

CorpSystem Sales Tax Compliance Services are governed by client-specific Service
Level Agreements (SLAs). Sales Tax Compliance Service clients have a designated
account manager who will ensure that all services performed meet the SLA. During
the monthly cycle, clients will have visibility to the preparation and filing
process as well as all tax authority correspondences through a secure customer
portal.

After each production cycle is completed, an evaluation is performed and any
issues or concerns are addressed and resolved. The CCH designated account manager
will be in regular contact with clients to get and provide feedback in order
to ensure that expectations are fully met.

The CorpSystem Sales Tax Compliance Service includes:

Company Set-up and Tax Return Configuration – CCH
works with a firm’s staff to compile all required company profile and
tax return-related information, including applicable states and separately
reported localities, filing frequencies, permit numbers and other relevant
information. Additionally, CCH will work with clients to ensure that all data
requirements are understood so that the monthly transactional data can be
accurately populated. Once the set-up is completed, there will be a one month
parallel test to validate that the returns are producing the expected results.

Tax Return Population and Review – At the beginning
of each month, clients will generate files of monthly transactions/liability
data which will be used to populate the required returns. An initial review
will be performed to insure that all data has loaded correctly.

Manual Adjustments – Based on the client’s
particular requirements, adjustments are made to the tax return for items
such as: untaxed purchase transactions that require consumer use tax reporting;
zeroing-out negative numbers from returns and logging them as credit carry-forwards;
applying previous credits on current tax returns when applicable; calculating
and applying prepayments; bad-debt deductions; and excess tax collected if
gross-up processing is not utilized.

Final Review and CCH Approval – After all adjustments
have been made to the returns, a senior level tax professional will do a detailed
review and then approve the tax return.

Funding Notification and Validation – After all
required tax returns are prepared, reviewed and approved, a remittance request
is generated so that clients can fund all remittances for the period.

Tax Return Filing and Remittance – All tax returns
are generated and attached to the associated check and mailed to the applicable
taxing authority. Additionally, all electronic and web site tax returns and
remittances are prepared and sent.

Tax Notice Management – CCH handles all notices
received by tax authorities.

“CCH is committed to raising the bar for service quality and customer
satisfaction. The operations team is comprised entirely of a blend of personnel
with Associate degrees, Finance MBA’s and Accountant certifications. In
addition, we believe in the ‘trust-but-verify’ motto. Via our client
portal, we give our customers online visibility into the entire preparation,
filing and notice process. There’s never a question as to whether returns
have been filed on time or notices received and responded to appropriately,”
said Bruce Krumlauf, CCH Sales and Use Tax Product Manager. “CorpSystem
Sales Tax Compliance Service provides everything companies need for worry and
hassle-free compliance.”

For more information on CorpSystem Sales Tax Compliance Services, visit www.salestax.com.

About CCH, a Wolters Kluwer business

CCH, a Wolters Kluwer business 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 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.