Patent ID: 8626619

Claim:
An information processing system for use by a plurality of users associated with a multi jurisdictional entity for managing said entity's data in a data storage for determining tax returns information and tax provision information and for tax planning purposes, based on data originating from at least one jurisdiction, the system comprising: a. means for collecting said data from each jurisdiction of said multi jurisdictional entity; b. means for calculating: i. the tax returns information of said entity, in accordance with a jurisdiction's governmental tax authority, from said data stored in a data storage; and ii. the tax provision information of said entity, in accordance with a pre-determined, non-governmental, accounting standard, from said data stored in the data storage; c. means for reconciling said tax provision information with said tax returns information; d. means for creating at least one dataset from said tax provision information; e. means for manipulating said tax provision information of each of said dataset for tax planning purposes; and f. means for reporting said tax returns information and said tax provision information.