On February 23, 2023, Avalara, a software development company dedicated to the real estate sector, announced the launch of its new digital business solution, Avalara Property Tax, for real and personal property tax management, enhancing tax compliance with cloud-based automation.
This solution would assist accounting and businesses professional in managing their complete property tax portfolio and compliance activities. In addition, it supports their activities like preparation of business personal property renditions, procession and handling of tax bills, assessments, and appeals.
There is a necessity for a more flexible and customizable solution for businesses, especially with in-house property tax compliance. Its solution helps the huge workloads with the SaaS facility of a secured central hub for property tax compliance operations over real and personal property. It facilitates the tax data like tax bills and assessments in the mail platform from various jurisdictions. It scans documents in a single secured platform with accuracy and automation to the selected account. In addition, it offers due date tracking, a feature created to avoid late payment penalties as it is difficult to assimilate due dates, discount opportunities, terms, and conditions separately.
EVP and GM of Indirect Tax, Avalara, Jayme Fishman, said, “Today, property tax is one of the most challenging business compliance activities. This challenge is due to the complexity of preparing personal property returns and the downstream implications of assessments and tax bills for real and personal property. Further complications arise from many jurisdictions having different due dates and terms, varying state depreciation schedules, and getting data out of client systems to feed into the process.” He added, “Our new property tax software solution follows our core mission of making taxes less taxing by offering businesses and accountants a more effective way to manage their property tax compliance and reduce errors while saving valuable time and money.”
(Source – Business Wire)
Headquartered in Seattle, Washington, Avalara, a cloud-based tax compliance solutions provider for businesses, offers sales tax automation and compliance services, tax return filing services, e-commerce integrations and exemption certificate management. Founded in 2004, it gives robust cloud-based solutions for tax compliance automation with efficiency and accuracy in real-time scenarios across the United States and worldwide. It delivers services for over 30,000 customers, and about 1,400 signed partner integrations for EPR, accounts, e-commerce, POS, CRM systems, and recurring bills of business applications. In addition, it supports tax transactions like sales, usability, excise, communication, lodging, VAT, GST, and indirect taxes.