Partnership Tax Compliance, Powered by iPACS

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

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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.

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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.

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Awards and recognition

Deloitte wins “Americas Tax Innovator of the Year” award

Our tax automation, compliance and reporting, data analytics, and cognitive solutions were recognized by International Tax Review.

Transforming Tax to Serve the Business: Private Equity Case Study 

Lessons learned from a finance transformation that made the tax function more strategic.

Innovating for faster tax filing

Read our case study about tax innovation for the partnership filing process.

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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.

Learn more about Deloitte's investment management sector. 

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Get in touch

	John Seabrook PSG and Proven Solutions Leader | Deloitte Tax LLP
	Robert Guarnieri Principal | Partnership Solutions Group
	Steven Henchcock CTO, Principal — PSG | Deloitte Tax LLP
	Diana McCutchen Partner, PSG | Deloitte Tax LLP