(KENNESAW, GA, September 6, 2011) – The release of the 2011 Electronic Tax Administration Advisory Committee’s (ETAAC) Congressional report shows the total number of professionally submitted 1040 Modernized e-Filed (MeF) tax returns at 4.8 million, of which 2.5 million were managed by one company, CCH Small Firm Services (SFS). These numbers highlight SFS’s leadership as a high-volume tax return processor and illustrate the workload of the company’s 45,000 customers, who are responsible for 52 percent of all professionally prepared 1040 MeF tax returns.
“We’re excited to see our hard work pay off,” says Alex Odinstov, CCH Small Firm Services Director of Development Operations. “Our Electronic Filing Center (EFC) leads the industry with cutting edge technology which makes it possible for our system to easily handle large volumes of communications. Even during this year’s record number of e-files, our EFC was able to handle the higher volume without any loss of speed or accuracy.”
Currently, SFS maintains two separate e-filing platforms, Legacy and MeF. The Legacy platform has been the standard format for electronic communications of individual returns to the IRS for years. However, in 2010 the MeF format was introduced for 1040 individual returns.
“The benefits of Moderizned e-File are huge,” explained CCH Small Firm Services President, Jeff Gramlich CPA, CITP. “Since mid-2000, business returns have been submitted using the MeF format. Now this technology is available to 1040 filers and will include faster IRS acknowledgements, more timely refund processing and prior-year tax return filing.”
Dave Olsen, CCH Small Firm Services Director of Product Management and member of ETAAC, echoed Gramlich’s sentiment saying, “The IRS is encouraging electronic filing at many levels and has even declared e-file mandates for professional tax preparers. At SFS, we’ve committed our resources to not only producing an advanced EFC, but to also creating an easy-to-use e-filing process for our two compliance programs, TaxWise and ATX.”
Olsen continued, “Although many of our customers are e-file experts, there are still professionals who need assistance in learning how to electronically file. As a leading software provider, our goal is to help educate our clients on necessary technology and support them with the best systems designed for their business.”
For More Information
For more information on tax and accounting solutions, please visit CCH Small Firm Services at cchsfs.com, or call 1-800-375-9542
About CCH Small Firm Services
CCH Small Firm Services (SFS), a Wolters Kluwer business, is a provider of tax and accounting software solutions, research products and training to 45,000 small professional firms throughout the United States and Puerto Rico. SFS offers both the ATX™ and TaxWise® product lines. SFS also provides tax software to the Internal Revenue Service for use at volunteer tax assistance sites. SFS, formed in 2006 following the acquisitions of TaxWise and ATX by Wolters Kluwer, is part of Wolters Kluwer Tax and Accounting. For more information, visit www.cchsfs.com.
Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.
CONTACT: SAMUEL ZUSMANN