[October 22, 2014]

Wolters Kluwer Collaborates with Top Wealth Management Organizations to Address the Recent IRS Ruling on Fiduciary Fees

More than 20 leading wealth management organizations will attend a roundtable today hosted by Wolters Kluwer, CCH (News - Alert) Trust US™ software to address new IRS regulations on fiduciary expenses incurred by trust and estates. The roundtable is part of a nationwide series of discussions with the CCH Trust US team, industry experts and top wealth management firms to explore the regulations and develop IRS-compliant practices.

The IRS announced a ruling (T.D. 9664) in May that goes into effect Jan. 1, 2015, to clarify a 2011 regulation. The language in the law is open to interpretation, and these roundtables establish a platform for leaders to share insights on how they will align organizational practices to comply with the regulations, which impact both tax reporting and trust administration.

"CCH Trust US software is committed to providing our customers with insight into the ever-changing regulatory requirements we face within the trust industry," stated Patrick Alyward, General Manager of Wolters Kluwer, CCH Small Firm Services. "In addition, our CCH Trust US product is equipped to accommodate the tax law change for both current and future clients."

The first roundtable that CCH Trust US hosted was inCleveland, Ohio. Attendees from large and regional banking organizations shared their interpretations and strategies related to the reporting requirement. The team from CCH Trust US also provided guidance and clarification regarding the ruling.

Today, bank trust departments, accounting firms, law firms and other wealth management organizations use Wolters Kluwer, CCH Trust US software to meet fiduciary reporting and trust tax return preparation and filing requirements. The comprehensive, easy-to-use tax compliance system helps ensure trust tax returns, estimates and payments are efficient, complete and accurate. To learn more about the capabilities of Wolters Kluwer, CCH Trust US software visit our website, or call to speak to one of our consultants at 1-888-242-1115.

About Wolters Kluwer, CCH Small Firm Services

Wolters Kluwer, CCH Small Firm Services (www.cchsfs.com) is a leading global provider of tax, accounting and trust tax solutions. Today, small professional tax and accounting firms, bank trust departments, commercial tax preparers, law firms, wealth management organizations and national tax chains rely on our tax and accounting solutions to accomplish work flow efficiency and tax compliance. Among its market-leading solutions are the ATX™ and TaxWise® tax preparation software, CCH iFirm, Client Accounting Suite and Trust US™. CCH Small Firm Services is based in Kennesaw, Ga.

Wolters Kluwer, CCH Small Firm Services is part of Wolters Kluwer (www.wolterskluwer.com), a market-leading global information services company. Wolters Kluwer had 2013 annual revenues of €3.6 billion ($4.7 billion), employs approximately 19,000 people worldwide, and maintains operations in over 40 countries across Europe, North America, Asia Pacific, and Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

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