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Tax information reporting solution

Refinitiv Maxit

Simplify your brokerage tax reporting processes with the industry’s only end-to-end tax reporting solution combining cost basis and tax information reporting in a single comprehensive platform.

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  1. Overview
  2. Features & benefits
  3. How we help
  4. Insights
  5. Find out more

Today’s information reporting requirements for banks and brokerages are complex and resource consuming.  In addition, fragmented vendor solutions create risk and cost challenges associated with compliance, vendor management, data integration, data accuracy and overall cost inefficiencies.

Refinitiv Maxit, the industry’s only end-to-end tax information reporting solution, was developed specifically to solve these challenges, allowing firms to focus on their core business without the cost and distraction of managing multiple vendors and large operations teams.

Refinitiv Maxit is backed by a diverse team of tax and software professionals.  Clients benefit from an end-to-end solution and gain a partner committed to solving their firm’s specific business challenges.

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Features & benefits

What you get with Refinitiv Maxit

Cost basis reporting

Highly automated solution delivering the leading cost basis platform, which makes firms compliant, reduces effort and cost through automation and provides firms with full control and access of its clients cost basis data.

Tax information reporting

Year-round, back-office agnostic service providing financial institutions with transparency around the information reporting process. Ease the tax reporting burden with real-time access to tax files throughout the year.

Tax optimization

Platform-agnostic set of tools combining your firms cost basis data and advanced portfolio analytics, providing advisors and investors with actionable opportunities to minimize taxes and maximize after-tax performance.

Managed services

Set of service options for Refinitiv Maxit clients to further streamline back-office cost basis and tax operations by having our experts perform specific services on your behalf.

How we help

Providing innovative end-to-end tax reporting solutions

Lower cost of ownership

Melding enterprise cost basis reporting and tax reporting together in a single solution enables Refinitiv Maxit to deliver a tightly integrated year-round tax function driving efficiencies in processing, support, and fulfillment.  Clients benefit from a “one-vendor” approach, working directly with Refinitiv for all processing, client services and 1099 delivery, facilitating the service aspect of the partnership and eliminating the friction of dealing with multiple vendors.
Lower cost of ownership

Trusted compliance

Refinitiv Maxit delivers proven compliance services with over a decade of experience providing solutions to over 100 firms.  The seamless integration of cost basis and tax information reporting diminishes error rates and multi-system discrepancies ensuring strong data integrity.  We maintain and monitor system compliance through a process-driven methodology, working with a ‘Big 4’ accounting firm, in-house legal and regulatory teams.
Trusted compliance

Functional efficiency

Automated cost basis and tax field validations ensure data integrity and are fed into interactive dashboards allowing for holistic system oversight.   The dashboards bring potential issues to the forefront, alerting the user and allowing for rapid resolution.  In addition, Refinitiv Maxit delivers administrative functions that allow tax operations teams to define and generate test and production tax form runs entirely from the user interface.
Functional efficiency

Technology friendly

Our tax solutions were built to seamlessly integrate into your back-office ecosystem to deliver a straight through workflow to enhance data integrity by minimizing points of failure. Critical cost basis and tax data is easily accessible/deliverable in real-time to operations, client services, digital solutions, and any other downstream consumers of reporting data.
Technology friendly

Insights

Shining a light on tax reporting

IRS Rev. Proc. 2020-20 and the implications for CICs | Refinitv Perspective

Substantial presence Rev. Proc. is a reminder of the need for change-in-circumstance processes. How can it be of help to NRAs during the COVID-19 pandemic?

New Form 1099-NEC joins the 1099 series of info

Following the introduction of new Form 1099-NEC, process changes will be required for NEC and other Form 1099-MISC payments

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