Tax Practice

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The arrival of 2024 brought a new reporting requirement for more than 32 million smaller companies in the United States. The new requirement, which came about as part of the federal Corporate Transparency Act of 2021, means that many companies will now have to report information about their beneficial owners — the individuals who ultimately control the company.
With new…
Continue Reading On LawNext: The New Beneficial Ownership Reporting Requirement and How Legal Tech Can Help Companies Comply

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For tax lawyers and accountants, a major pain point is the time they spend drawing complex entity and relationship diagrams — diagrams that map the major players involved in a client’s tax scenario and the relationships among them.
Until now, the state of the art for creating these diagrams has been Microsoft PowerPoint, according to Benjamin Alarie, cofounder and…
Continue Reading AI-Powered Tax Research Platform Blue J Launches First-of-its-Kind Entity and Relationship Diagramming

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Tax lawyers want it all. And the more granular and up-to date the better. Today  Wolters Kluwer  Legal and Regulatory released a new alerts feature in digital Tax Reporters Plus Suite on Cheetah that will enable tax lawyers to track alerts for changes in the tax code, regulations, explanations and other code related documents.
Alerts in a Time of COVID…
Continue Reading Tax Law Alerts in a Time of COVID — Wolters Kluwer Cheetah Adds Powerful New Tracking Tool

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 Four products shared the top 3 places in this tears Dewey B Strategic Hits and Misses survey results. Back in January readers were asked to identify the products they either purchased for the first time in 2019 or planned to purchase in 2020. Although budgets may have been cut since the survey was taken the products identified by readers are…
Continue Reading Hits and Misses Part 3 – Blue J Legal AI Product Tops 2020 “Must Have” List

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Blue J Legal had a small booth at the American Association of Law Libraries conference in Washington, DC this summer.  Yet… they had one of the most impressive new offerings in the exhibit hall.  Tax Foresight  can predict the likely outcome of a tax controversy with at least 90 percent accuracy.  The product uses AI – specifically “supervised machine learning”…
Continue Reading Blue J Legal Tax Foresight Predictive AI for Tax Lawyers