For a Smoother Tax Provision Close, Evaluate Processes Today

Many organizations prefer to forget about the tax provision process after completing a year-end or interim tax close. However, organizations that take the time to evaluate their approach today will benefit from significant process improvements, the effects of which will be felt throughout the year. This article suggests a series of questions that organizations can consider as they begin their evaluations. The authors also explore common pain points that tax professionals may experience in the tax provision process, suggesting some first steps to consider in order to ameliorate these challenges.