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Automated Tax Compliance For Property Tax Professionals

Filing return after return (by hand!) is probably last on your team’s list of favorite tax to-do’s. It’s right down there with entering data from the tax assessor’s notice of valuation. Would you believe there’s something that could push these to-do’s to the top of the list? It’s automated tax compliance—and here are a few key reasons for diving into this tax approach.

5 Reasons To Switch To Automated Tax Compliance

1. You don’t have to worry about searching for every jurisdiction’s latest documents.

Searching the web or calling assessor’s offices to get the latest return forms is unnecessarily time consuming. You can avoid that with tax compliance automation. Every year, TPT makes available the latest:

  • Return forms for every jurisdiction at the state and county levels
  • Depreciation schedules containing depreciation factors for every collection in every jurisdiction
  • Index collections containing index factors for every collection in every jurisdiction

2. You don’t have to remember last year’s depreciation approach.

How did we depreciate these assets last year? If this question sounds familiar, it’s one you’ll never ask again with tax compliance automation. In TPT, you can set default depreciation rules. Set the default collection once, then easily apply it year after year.

Automated tax compliance in TPT - CrowdReason

3. You don’t have to complete (or sign) return forms by hand.

Instead of arduously filling out PDFs online or, even worse, by hand, automated tax compliance can fast-track the process. TPT automatically generates a fully completed return form for you based on data gathered from entered tax forms. You can set answers to every question on the form prior to generating it, including digital signatures.

4. You don’t have to manipulate tax files before sending to accounts payable.

Traditionally, if you want your tax team’s outputs to go to the AP team, you’d have to do some magic in Excel or a similar program. TPT’s tax compliance automation capabilities include generating various AP file formats that can be tailored to match what your AP system needs. The result is a seamless handoff.

5. You don’t have to do manual data entry for standard tax documents.

With automated tax compliance, there’s no need to take time reviewing and entering data from tax documents you receive from the assessor or tax collector. In addition, automation minimizes human error. Using TPT in conjunction with our automated data entry solution, MetaTaskerPT, means you never have to worry about manual data entry errors ever again. MetaTasker uses the latest advancements in machine learning to extract strategic content from:

  • Return forms
  • Assessment notices
  • Tax bills

With a tax bill, for example, MetaTaskerPT would extract the tax year, collector name, mailing address, taxable value, amount due, and due date. These data points are then imported directly into TPT and used for filing, appeals, bill-paying, and more.

CrowdReason provides the solutions and the support you need to make property tax management a cinch. We understand what you’re trying to accomplish, and have designed our software to handle nearly any challenge you can throw at it.

Come join our family of satisfied clients who are now handling property tax management tasks with ease. Schedule a demo today.