Thomson Reuters Acquires TaxWorks Software from RedGear Technologies

The Tax & Accounting business of Thomson Reuters recently announced the acquisition of select TaxWorks assets from RedGear Technologies. Current TaxWorks customers will receive packages containing information regarding available transition services.

“After careful consideration, we’ve decided to focus more strongly on our consumer tax preparation software for our retail and franchise business and therefore will no longer offer the TaxWorks line of software,” said Brad Peacock, assistant vice president, RedGear Technologies. “Our customers will find UltraTax CS to be a great match for their needs. It’s a very advanced, very intuitive system with navigation and functionality that offers many of the most popular features in TaxWorks plus many more new, innovative, and timesaving features. The team at Thomson Reuters has a proven track record of transitioning practitioners to UltraTax CS, and I know they’re working hard to make sure the migration goes smoothly for each and every firm.”

As part of the acquisition, TaxWorks customers will switch to Thomson Reuters’ UltraTax CS product line. The company has put together a team of transition specialists to aid customers in making the transition. The team will work closely with the TaxWorks team to provide data conversion services, introductory webinars, training courses and other resources to help TaxWorks users make a smooth transition to UltraTax CS.

“We are very pleased that RedGear Technologies has selected UltraTax CS as the tax preparation system that best meets the needs of TaxWorks customers. We’re bringing all our resources to the table to make sure the transition is a smooth one for TaxWorks users,” said Jon Baron, managing director, Professional Segment, Tax & Accounting, Thomson Reuters. “Working directly with the development team at TaxWorks will allow us to offer the most accurate, timely and comprehensive data conversion possible. The customer insights they have shared with us have helped with the development of customized free training offerings for TaxWorks customers, as well as other transition materials that will make TaxWorks users more comfortable with UltraTax CS.”

TaxWorks customers can learn more about the TaxWorks to UltraTax CS transition program by visiting Thomson Reuters’ dedicated transition website.

“We welcome TaxWorks customers to the Thomson Reuters family and will stay focused on helping them smoothly transition to UltraTax CS, our comprehensive, advanced tax preparation system designed to help firms be more productive and profitable,” said Baron.