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Tax Management Systems (TMS)

For the past two years, our members have contributed their experiences to the development of a proprietary tax system that is specifically designed for a tax company to handle clients of all sizes and in most federal, state, and local jurisdictions. Our system has been thoroughly tested and in production for the past two years and has successfully handled more than a billion dollars in tax liabilities without any penalties. Furthermore, we have successfully licensed our tax system to other payroll companies so that they can process their clients’ taxes. We had been approached by company such as Zurich Tax Filing Solutions to license our cash management module for use in their operation to manage their clients’ balances.

In addition to the standard services that other tax systems do, such as processing, paying the taxes, filing the returns, and being in compliance, our Tax Management Systems (TMS) has unique features such as:

  • Our TMS is linked directly to our bank so that it can reconcile before and after the transactions actually posted to our bank accounts. We can see and deal with outstanding transactions the day they occur instead of waiting 30 days or more to receive our bank statements. This is especially important because sometime transactions are being presented to our bank that we didn’t initiate and/or were initiated without our permission. In addition, we can deal with transactions that are time sensitive such as EFT deposits.
  • Our TMS has an extensive list of items that it constantly monitors and sends alerts to our management team of potential problems that might occur.
  • Our TMS tracks exactly which information was changed or deleted by anyone on which date and at which times.
  • Most returns are automatically saved in Adobe PDF format and can be generated anyway that you want.
  • Our TMS can impound and prepare ACH, Draft, Wire Instruction, ACH request, etc. to collect money from our clients’ account(s).
  • Our TMS can prepare ACH debit/credit, wire, and/or check payments.
  • Our TMS can project the daily balance for any period of time depending on the information available and processed.
  • Our TMS can analyze how much revenue (interest and fee) is generated from each account and from all accounts.
  • Our TMS is very user friendly. All information pertain to a client can be viewed from a single place or information pertain to a specific transaction can be viewed for all clients at the same time.
  • Our TMS is secured down to the field level and to the specific action.

These are just few of the many unique advantages that we have and use to better service our clients and payroll partners in ways that our competitors cannot because of their system’s limitations. At Payroll Tax Specialists, our system and our procedures are very flexible to accommodate most of our clients and partners special needs. Moreover, whatever your needs are, we can tailor our system to accommodate your circumstances.

Follow is a listing of some sample reports from our TMS:

  • Daily Checklist
  • Our TMS has a unique balancing process that enables it to balance each and every client's balance based on the actual transactions against the client's registers, company registers, and bank registers. At any minute, we can account for all the transactions for any time period. Should we be out of balance for any reason, our system can pin-point exactly which transaction caused the balancing error.
  • Quarter End Checklist
  • Daily Balance
  • Company Register Special Handling
  • Company Register Outstanding Transactions
  • Bank Register Special Handling
  • Bank Register Outstanding
  • Client Ledger
  • Quarter End Tax Statement
  • Quarter End Account Reconciliation
  • Expected Payrolls
  • Pending Payments
  • Pending Deposits
  • Interest Income
  • Quarter End Analysis
  • Quarter End Balance

Testimonials

I can't afford to lose any clients because of tax related issues. We are glad we chose Payroll Tax Specialists as our payroll tax partner. They have met and exceeded our expectations.
Brian Cambridge
Since I have started using Payroll Tax Specialists services I don't have to deal with late payments, penalties and client complaints anymore. Payroll Tax Specialists truly delivered what was promised.
Christian Taylor