Bloomberg Tax Introduces Controlled Calculations for Bloomberg Tax Workpapers

New controlled calculation capabilities for Bloomberg Tax Workpapers aim to streamline state tax computations for corporate tax teams. The launch of this feature enables tax professionals to perform intricate calculations with enhanced confidence, transparency, and efficiency. Many tax departments still depend on complex spreadsheets to manage these computations, but as organizations expand, these manual processes become challenging to scale.

Maintaining formulas across regions is labor-intensive, heightens the risk of errors, and surpasses the capabilities of spreadsheets.

Controlled Calculations replaces these manual approaches with a governed calculation environment that offers system-maintained tax rules, while still allowing tax teams to personalize calculations according to their unique business requirements. Evan Croen, head of Bloomberg Tax, stated, "The future of tax isn't about building better spreadsheets; it's about providing professionals with better ways to manage complexity."

This innovation consolidates trusted tax intelligence, governed calculations, and connected workflows, allowing tax teams to dedicate more time to applying their expertise.

Controlled Calculations offers several key features: governed state income tax calculations powered by system-maintained tax rules; adaptable support for organization-specific business logic and calculation structures; built-in auditability and traceability throughout the preparation and review process; and connected workflows across Bloomberg Tax Workpapers, Bloomberg Tax Research, and Bloomberg Tax Provision.

With these enhancements, Bloomberg Tax Workpapers becomes the operational center of Bloomberg Tax's suite of solutions, connecting dependable research, governed calculations, and tax provision in a unified workflow. This integrated approach helps tax teams boost accuracy, cut manual work, and transition from research to reporting with increased assurance.