2017 ULTRATAX CS- Alerts and notices
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MFA required for electronic filing
Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to access the electronic filing transmission feature in CS Connect.
Thomson Reuters is committed to proactively evolving our security features to help you protect your firm and your clients' data. For more information about multi-factor authentication, see Multi-factor authentication overview.
Question
Why is UltraTax/1120 calculating an additional three-percent tax on the controlled group?
Answer
The three-percent additional tax is assessed when the total taxable income of the controlled group exceeds $15,000,000. The additional tax is equal to the lesser of: (a) three percent of the controlled group's taxable income exceeding $15,000,000, or (b) $100,000.
Related topic: 1120-US: Controlled group FAQs