Tax Credits

The system tracks the impact of tax credits. National tax credits utilized in the current year are input in the Current Provision form and automatically flow to the gross temporary difference input schedule, thereby automating the calculation of the related deferred tax asset. The system then tracks Tax Credit carryforwards in the gross temporary difference rollforward, but not the detailed composition form (by year, expired, and so on). The detailed composition of individual tax credits (for example, year, expiration) can be tracked in the Tax Credits Form and Report; however, no automation is available.