UltraTax CS
Streamline tax preparation, enhance accuracy, and boost firm productivity.
Executive Summary
UltraTax CS by Thomson Reuters is a comprehensive tax preparation software designed for accounting firms and tax professionals of all sizes. It automates complex tax calculations, ensures compliance with evolving regulations, and integrates seamlessly with other professional tools. The platform's value lies in its ability to significantly reduce manual effort, minimize errors through advanced diagnostics, and accelerate the entire tax workflow, enabling firms to manage higher client volumes efficiently.
Use Cases
- Preparing and e-filing individual (1040) tax returns with complex scenarios.
- Managing corporate (1120) and partnership (1065) tax returns, including multi-state filings.
- Automating data entry and calculations for estates and trusts (1041) and non-profit (990) returns.
- Streamlining client data collection and document management through integrated portals.
- Ensuring compliance with the latest tax laws and regulations through automatic updates and diagnostics.
- Facilitating remote work and collaboration among tax teams through cloud hosting options.
Features
Visibility
- E-filing Management Dashboard: Centralized dashboard to monitor the status of all e-filed returns, providing quick links to e-filing status and product guides.
- Client Status System: Tracks the progress of client returns through various stages, allowing firms to create reports, identify delays, and manage workflow effectively.
- Client View of Returns: Ability to display a client-friendly view of the tax return, facilitating review during client appointments.
- Comprehensive Reporting: Generates detailed and customizable reports for clients, including client listings and specific sections of returns.
Intelligence
- AI-Powered Tax Optimization: Uses machine learning to identify tax-saving opportunities and optimize tax returns for clients.
- Automated Data Sharing: Automatically shares data across forms and returns, reducing repetitive data entry and ensuring consistency.
- Advanced Diagnostics: Provides comprehensive analytical diagnostics to identify and flag potential errors or missing items, ensuring accuracy and compliance.
- OCR Data Capture: Automates the extraction of data from source documents, minimizing manual data entry and improving efficiency.
- AI-Powered In-Product Support: Access to AI-powered answers directly within the software for quick assistance and troubleshooting.
Support
- Multi-channel Support: Offers support via phone, chat, and email, with dedicated help and how-to centers.
- Training Resources: Provides extensive training resources, including courses and guides, to help users maximize product utility and onboard new employees.
- Welcome Services Program: A guided orientation program for new users to ensure a smooth transition and productive tax season.
Technical Specifications
- Architecture
- Desktop application with cloud-hosted options (SaaS via Citrix or dedicated cloud hosting)
- Deployment
- Hybrid
- Authentication
- Thomson Reuters account with two-step verification and advanced user/group security
- API Available
- Yes
- MCP Server
- No
AI/ML Stack
- Machine Learning
Security & Compliance
Certifications: SOC 2 Type II
Encryption: Advanced encryption (for cloud-hosted environments and integrated solutions)
Data Residency: US
Pricing
- Model
- Tiered subscription (based on features and return volume)
- Starting Price
- Starting at $2500/year for UltraTax CS Express 100 (new customers); Contact sales for standard versions.
- Target Customer
- SMB to Enterprise
- Contract Type
- Annual
- Free Trial
- Yes, Custom demo (request free demo); 7 days (for cloud hosting trials). (credit card required)
Ratings & Reviews
G2: 3.4/5 (60 reviews) · Capterra: [object Object]/5 · Gartner: [object Object]/5
About Thomson Reuters Corporation
Thomson Reuters Corporation is a Canadian multinational content-driven technology conglomerate that integrates trusted content and technology to support decision-making for professionals and organizations. It offers specialized software and insights across legal, tax, accounting, compliance, government, and media sectors, serving a diverse customer base globally.