Ernst & Young LLP announced today that it has acquired certain tax technology platform assets from TaxChat, LLC, an innovative startup that focused on mobile, on-demand tax preparation services. TaxChat, LLC CEO and co-founder Steve Toy (pictured right) has joined the firm and is now a member of the EY Americas Tax Innovation Foundry, a group dedicated to building transformational new businesses within EY Americas firms.
“This expansion demonstrates our commitment to an entrepreneurial approach to innovation by creating new services for our clients,” said Kate Barton, EY Americas Vice-Chair of Tax Services. “Shifting global tax policies and changing business models are generating real-time, digitally enabled capabilities that allow us to continue offering exceptional and innovative services to meet client needs. Incubating new businesses through the EY Americas Tax Innovation Foundry is an integral part of our tax services’ innovation strategy.”
“Our EY Americas Tax Innovation Foundry is a critical component of our Tax Innovation movement,” said Jeff Saviano, EY Americas Indirect Tax Services and Tax Innovation Leader. “The addition of this digital tax technology furthers our vision to be the most innovative Tax provider in a professional services organization. The acquisition brings new technologies that will be critically important to our clients in a rapidly changing global tax arena.”
“We are excited that Steve has joined our growing team of internal entrepreneurs,” said Chirag Patel, EY Americas Tax Innovation Foundry Leader. “We remain focused on building and transforming businesses in the tax, finance, and human capital segments. This acquisition is one of several strategic investments EY will make to drive long-term growth and to offer new digital-first experiences to our clients.”
Prior to TaxChat LLC, Steve Toy worked with Fareportal, Billboard, and Software Secure. He developed ancillary products, new revenue streams, enhanced sales, and helped transition older products and services into digital systems. A veteran entrepreneur, he also co-founded Beema Inc., an agency that supported business transition into digital strategies through cutting-edge video-messaging and email products.
“It was an easy decision for me to join EY,” Toy said. “We share a vision around disruption of the tax and finance functions. The EY Americas Tax Innovation Foundry is a unique destination. Its founders seek to remain entrepreneurial while accelerating time-to-market and driving scale.”
Candice Bordeaux, formerly Country Manager at Wolters Kluwer has launched CBO Search, a specialist executive search firm for the Indirect Tax & Tax Technology markets.
Candice has worked in Indirect Tax and Tax Technology for over a decade, holding senior roles for Indirect Tax consultancies, boutique firms and large software firms. Her focus was on uncovering marketable business opportunities and achieving successful products or services implementation by working closely with delivery teams and clients from the FTSE 250 and equivalent listed firms across Europe
Commenting on her new business Candice said, “The Indirect Tax & Tax Technology industry is booming across Europe, we hear about new jobs such as Taxologist or Tax Technologist, I am excited to contribute positively to our industry transformation.”
CBO Search is headquartered in London but works with clients on a global basis. For more information please click here: http://www.cbosearch.com/
Tytho, the Dutch headquartered tax automation firm, has hired Frederik Vinks as Managing Partner in its Transfer Pricing practice.
Mr Vinks trained in tax with PwC but since 2007 has worked in-house. For the past 2 years he was Tax Director (Europe) at ACN. He joined Tytho in March and will operate from the Rotterdam office.
Vinks joining Tytho is significant in these turbulent times for Transfer Pricing, as Managing Partner, Monica Erasmus-Koen, explains.
“One of the key challenges for tax directors is that processes, data, systems and their hierarchies often do not reflect structures for Transfer Pricing reporting. In other words: compliance. Therefore, everyone in the Tytho Transfer Pricing team has to be someone who not only lives by the same work ethic, but also understands these touchpoints from a transfer pricing and systems perspective to help companies to bridge that gap.”
“Multinational companies need to bring their transfer pricing to the next level ensuring compliance in an efficient and meaningful manner,” says Vinks. “At Tytho I found the dedication and enthusiasm, in combination with the expertise and technology, needed to make a difference and set a new standard in transfer pricing.”
Founded in the Netherlands in 2011, Tytho is a global tax automation consultancy firm with offices in Rotterdam and New York. Tytho uses its extensive network of tax technologists to help multinational clients stay in control of their Indirect Taxes and Transfer Pricing.
Avalara, Inc., a leading provider of cloud-based software delivering compliance solutions related to sales and excise tax, VAT, and other transactional taxes, has announced that it has acquired EZtax®, Inc., a leading provider of tax compliance solutions for the telecommunications industry.
The $5.6 trillion worldwide telecom market1 is subject to multiple tax laws and regulations that are highly complex and constantly changing. EZtax offers cloud-based solutions that address this complexity. The company’s flagship product, also called EZtax, provides telecom service providers with a fully automated tax solution for accurately calculating and filing taxes due on their services across the US and Canada.
“As the telecom industry rapidly adopts more data-centric services such as VoIP, broadband and wireless, tax agencies are actively considering legislation that could impose additional tax liabilities on an already highly taxed and complex industry,” said Scott McFarlane, founder and CEO of Avalara. “EZtax eliminates these complexities and advances our strategy of helping customers in every industry to simplify and automate tax compliance in cloud-based solutions.”
“As a market leader for cloud-based tax compliance automation, Avalara is the perfect complement for EZtax and our customers,” said Tim Lopatofsky, founder and CEO of EZtax. “Their platform, vision, and highly-effective sales and marketing engine will help accelerate our business and meet the demand in the fast-growing worldwide telecom market.”
Over the past decade, Avalara has developed, purchased or licensed databases containing extensive tax data and knowledge related to sales tax, exemption certificates, excise tax, VAT and other transactional taxes. This acquisition servicing the telecom industry is Avalara’s latest move to broaden and deepen its tax content.
“EZtax offers an extensive tax library that supports thousands of telecom services worldwide,” said McFarlane. “Tax data is updated on a continuous basis by a team of experienced telecom tax experts who understand the complex rules and regulations to keep pace with changes that are required for compliance. We look forward to leveraging EZtax’s expertise and content to extend our reach, and help make compliance easier and more accurate for telecom service providers worldwide.”
Ryan today announced that the Firm has acquired Taxaccord, a tax automation services firm supporting multinational corporations worldwide with complex tax software implementation and process improvement solutions.
The acquisition complements Ryan’s Tax Technology practice—one of the largest in the tax services industry—and brings an additional team of global tax technology professionals with vast systems integration expertise and knowledge in supply chain, finance, tax, and information technology. Taxaccord founders Angela Myers, Mike Reigle, and Geoff Peck will join the Firm’s Tax Technology leadership team and play a significant role in the continued growth of the practice.
The acquisition also adds a number of significant Fortune 500 relationships to Ryan’s portfolio of clients and will support the growing demand of the Firm’s multinational clients for tax technology solutions that improve accuracy, efficiency, and profitability. Revenue generation and accelerated return on investment will be realized by providing additional access to the Firm’s integrated, single-source solution of more than 45 global tax practices for improving cash flow and minimizing tax liabilities.
“We are proud to add a firm with the industry reputation and expertise of Taxaccord,” said Grant Smith, Ryan’s Tax Technology Practice Leader. “We are excited that these renowned tax technology professionals have joined Ryan to execute our strategy of enhancing the most comprehensive and effective suite of tax technology services in the industry.”
“The acquisition of Taxaccord represents another key milestone in the successful execution of our global growth strategy,” said G. Brint Ryan, Chairman and CEO of Ryan. “Our clients will immediately benefit from the collective strategic insight and experience of this group of tax experts as they deploy global technology solutions that improve efficiency and profitability across the corporate tax function.”
Deloitte today announced the appointment of Paul Sallomi, partner, Deloitte Tax LLP, to national sector leader (NSL) for technology within Deloitte’s technology, media and telecommunications (TMT) practice. As NSL for technology, Sallomi succeeds Eric Openshaw, who held the position for the past nine years and will continue in his role as national industry leader for Deloitte TMT.
In his new role, Sallomi will work to grow and strengthen the technology practice; and to lead strategic industry research, service development and delivery to clients.
“Paul has held a number of significant leadership roles at Deloitte and as a result brings a unique perspective and deep industry knowledge that will help clients address the quickly evolving business landscape,” said Eric Openshaw, vice chairman and U.S. technology, media and telecommunications leader, Deloitte LLP. “Paul is committed to quality and addressing the needs of clients and I’d like to congratulate him in his new role as national sector leader for technology.”
Sallomi has had a number of significant leadership roles in tax, including serving as U.S. tax TMT industry leader and U.S. tax technology sector leader. In these roles, he was responsible for developing a community of professionals and clients through overseeing the creation and distribution of technical content, facilitating seminars, and participating in the planning, delivery, and satisfaction assessment processes for Deloitte’s most significant TMT clients.
“The intersection of disruptive forces including cloud, mobile, social and the Internet of Things are opening up new revenue streams and opportunities for businesses that can give them a strategic advantage over their competitors if properly leveraged,” said Sallomi. “These disruptive forces are quickly becoming table stakes for the industry, but many enterprises are still in the beginning stages of discussing these technologies and figuring ways to enter new markets and provide integrated solutions. As part of my new role I look forward to working with clients to determine the impact these technologies will have on their businesses and how best to implement them.”
The Internal Revenue Service has announced the selection of three new members and a chairperson to the Electronic Tax Administration Advisory Committee (ETAAC).
ETAAC provides an organized forum for discussion of issues in electronic tax administration and supports the goal of increasing electronic transactions between tax professionals and the IRS.
The new members are:
- James Buttonow of Greensboro, N.C., is a certified public accountant and vice president of product development for Beyond415 software products. He designs and develops post-filing technology solutions and teaches post-filing topics to practitioners.
- Everard Lee Davenport of Washington, D.C., is principal at Davenport Consulting, working with a variety of organizations to create and lead programs providing free income tax services, computer access and digital learning to underserved communities. He is the architect of MyFreeTaxes.com.
- Troy Thibideau of Maple Grove, Minn., is executive vice president of marketing and client operations for Convey Compliance Systems, Inc., working with third party service providers and information returns. He is a former CPA with over 20 years of experience within the technology and finance industries.
The new chairperson is :
- Cyrus Daftary of Newton, Mass., has been elected by the members to serve as the chairperson of ETAAC for 2013-2014. He is a partner with Burt, Staples & Maner and is responsible for developing and implementing tax software solutions for withholding and information return reporting. Daftary’s experience includes representing clients before the IRS under Form 1042 audits and Form 1042 voluntary disclosures, and designing an online course “Cyberlaw: Legal Research, Issues and Practice in Cyberspace.” He earned an economics degree from Indiana University, a Juris Doctorate from University of Dayton School of Law and a LL.M. from Temple University in Tax.
Wolters Kluwer Tax & Accounting has announced the appointment of Teresa Mackintosh as President & CEO of CCH Tax & Accounting U.S., effective immediately.
Mackintosh, an industry leader with a track record of delivering innovative technology solutions, was most recently President of CCH U.S. Software where she launched a series of successful mobile, cloud and software offerings that support how professionals want to work today.
Mackintosh succeeds CCH President & CEO Karen Abramson, who joined CCH in 2012. Abramson was named CEO of the Wolters Kluwer Tax & Accounting division earlier this year. Mackintosh will now report to Abramson, and lead operations for the U.S. CCH business serving the professional and corporate markets.
“Teresa is a visionary leader with deep insight into the profession, a passion for innovation and a complete commitment to execution excellence,” said Abramson. “She has exactly the right experience, insight and expertise to lead CCH at this exciting time as we continue to pioneer new ways to help our customers grow, manage and protect their businesses.”
“I am thrilled to be leading CCH at such a transformative time in the tax and accounting profession,” said Mackintosh. “One of the most powerful forces today is technology, as professionals look to increase productivity, add higher value services and connect with clients anytime, anywhere through cloud and mobile solutions. CCH is leading the way in the market in customer-focused investment and innovation, and I’m eager to partner with customers to find new ways to support their success.”
Mackintosh, a CPA, has been recognized consistently as a key influencer in the profession. She has been listed among the profession’s Top 40 under 40 and Most Powerful Women in Public Accounting by CPA Practice Advisor, and Top 100 Most Influential People in accounting by Accounting Today. She joined CCH in 2012 as Executive Vice President & General Manager of Tax, where she was responsible for CCH’s largest business line, leading Tax Product Development, Tax Technology, Product Management, Sales and Tax Operations. Mackintosh joined Wolters Kluwer from Thomson Reuters, where she held leadership roles including General Manager/Senior Vice President of Indirect, Property & Trust, and General Manager/Senior Vice President of Americas Professional. Mackintosh earned both a Bachelor’s degree and M.B.A. from the University of Michigan, Ann Arbor.