Thomson Reuters has announced the release of Estimated Payments, a newly integrated technology that automates the calculation and remission of a company's estimated tax payments and extensions, while maintaining updated tax law and e-file requirements in a secure auditable environment. 

Currently, many companies manually review current assumptions and tax laws for accuracy and updates, gather data, enter the data into spreadsheets, calculate estimated payments, and enter the results of those calculations into state-approved vouchers. 

Estimated Payments provides customers with many benefits, including:

Reduced time required to make quarterly estimated payments and annual extensions—specifically, the elimination of a time consuming task that requires offline calculations and re-keying results;

Increased accuracy by eliminating error prone and high-risk spreadsheets and manual entry of information into vouchers and forms;

Ability to automatically stay up-to-date on changing tax laws;

Streamlined process for preparing estimated payments, affecting virtually every task from data gathering to printing to vouchers; and

Ability to leverage current tax expense in ONESOURCE Tax Provision as the basis of remittance for more robust calculations. 

Seamless integration with ONESOURCE Income Tax, ONESOURCE Tax Provision and ONESOURCE State Apportionment gives users the ability to utilize a combination of data elements to accurately compute and meet necessary filing requirements with ease.