With WingsPlus: Premium Tax, tax forms and annual statements share data from the same common database and are directly linked together. This means applicable tax fields are updated and populated with common data from the annual statement. When a data change occurs in the annual statement, the same data change will occur in the corresponding tax return and calculations.
With internal controls, WingsPlus: Premium Tax managers can document and enforce company financial control policies. They can segregate duties to each user (what to do and where to do it) – down to each state return – and can use control logs to track all activity performed in the application (including who changed what and when and how values were changed). Once a state return is considered final, managers can lock the state return against future changes and users can still view, print, and archive each PDF.
Using Microsoft Excel, users can save tax returns as workbooks and make the necessary changes. In WingsPlus: Premium Tax, users can import the workbooks and see the revised tax returns as final PDF forms and as work papers in the system. Changes can go in one place and will appear in the other place. Real-time data flows from municipal tax forms to the premium tax return. Users can override data elements, add cell comments to any field, and trace individual premium tax fields back to their origins in the annual statement using a unique “drill-down” method. WingsPlus: Premium Tax uses the same forms as posted on the state websites and overlays Adobe tags onto each PDF for printing to ensure tax returns are accepted.
WingsPlus: Premium Tax also includes Guaranty Fund Assessment (GFA) work papers, a management report, GFA summary reports by state, estimated payment computations, yearly credit amounts, and check requests to help monitor and streamline preparation processes. During support season, the latest summarized state instructions, links to state websites, and help sources are also available for your use.
With WingsPlus: Premium Tax, tax filing is simply and sensibly better.