Partnership tax compliance, powered by iPACS
For critical insights and functionality
Manage complex partnership tax compliance and respond to your investors’ advanced reporting requirements with iPACS, pioneered by Deloitte Tax.
- Deliver strategic value to your investors
- The iPACS platform and process
- Responding to your market needs
- Awards and recognition
- Investment management services
Deliver strategic value to your investors
Tax departments must manage a range of issues that have direct consequences for pass-through taxation compliance and reporting.
For tax departments that still rely on largely manual, spreadsheet-based processes, responding to new requirements and developments could be crippling. What’s more, deploying new tax technologies could call for significant time and resources in order to integrate those technologies with an organization’s existing IT systems.
Tax directors and CFOs responsible for meeting compliance rules need quick, effective tools that enable them to:
- Advise investors on partnership transactions
- Add strategic value to their own organizations
- Elevate the tax function to address ever-increasing expectations
The iPACS platform and process
Deloitte’s partnership tax compliance process, enabled by our iPACS technology, provides the methodology, tools, and templates to streamline reporting processes. Reducing the time needed to deliver critical tax insights also facilitates operational decision making.
The iPACS platform and process was designed to address the hardest part of the partnership tax compliance and reporting process:
- Managing complicated tax allocations to partners
- Tiering results through complex organizational structures
Today, those capabilities remain the backbone of iPACS’s demonstrated track record of delivering millions of K-1s. During that time, our clients have also utilized this functionality for both year-end tax reporting and the quarterly estimated tax process.
iPACS addresses partnership organizational structures and fact patterns to manage large amounts of complex tax data in an efficient manner. This platform also helps tax departments to strategically focus on regulatory requirements in the US and around the globe.
Responding to compliance requirements
Compliance requirements for investment management firms and other financial institutions are coming from many directions, including:
- The US’s Foreign Account Tax Compliance Act (FATCA)
- The UK’s Crown Dependencies and Overseas Territories (CDOT) regime
- The Organization for Economic Co-operation and Development’s (OECD) Common Reporting Standard
Once a client is on-boarded, much of the data required to report on foreign account holders will populate and exist in the iPACS database. So it’s a natural extension of iPACS’s scalable capabilities to address those tax reporting requirements.
Awards and recognition
Our tax automation, compliance and reporting, data analytics, and cognitive solutions were recognized by International Tax Review.
Lessons learned from a finance transformation that made the tax function more strategic.
Read our case study about tax innovation for the partnership filing process.
Investment management services
Deloitte’s financial services industry specialists provide broad-based, integrated tax and technology solutions. We offer transformative thinking that leads to new ways for tax to create value within your organization.
The investment management sector offering is part of Deloitte’s US financial industry practice, which encompasses a network of more than 9,500 professionals. Many of our professionals have previous experience at major investment management firms or at some of the industry’s leading service providers and industry regulators.