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Thomson Reuters has introduced a series of blog articles to help UltraTax CS users to help clients navigate possible tax law changes coming for next year. The articles offer step-by-step instructions for creating automated searches that can identify clients who may be affected by changing income tax brackets or new withholding rules,

 

Users can generate a report listing all the affected clients and automatically produce letters notifying clients that they may be affected.The articles were written by Thomson Reuters product manager Jordan Kleinsmith.

Data mining capabilities in UltraTax can also help firms identify opportunities for clients such as those with estimated tax payments coming due; those turning age 59.5 years old with a retirement plan who now have the option to take retirement distributions; those more than 70.5 years old with a retirement plan who must remember to take Required Minimum Distributions; and those clients poised to take advantage of a special tax provision such as. clients with large traditional IRA balances and the deferred taxability option on Roth IRA conversions back in tax year 2010).

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