TTR Adds Tax Summaries - Saves Research Time

Mar 26th, 2015

(McMinnville, OR, March 26, 2015) - Today, TTR announced that it has added tax summaries to its online content. These summaries will save tax professionals hours of legal research time.

Tax professionals know how time-consuming tax research can be. They might start by looking at the big picture and then narrow the scope of the research. Or, they might start by looking at a narrow issue and then broaden the scope of research as needed. There is no one-size-fits-all method, but success often depends on how many search results they find. Once they find a manageable number of results, they still have to sift through hundreds of document pages to find the answer - if the answer is there at all.

For example, a professional might need to research electronically delivered software. Searching for "software" in statutes, regulations, rulings, cases, and other agency materials may return more than 900 results. It could take weeks to sift through those results to find the relevant documents. The same search using "electronically delivered software" may return almost 400 results. Another search, limited to rulings and agency materials, could return a more manageable 40 results, but those results still consist of over 100 pages of written legal material. The tax professional would still have to read all of those pages, and there is no guarantee that the pages contain what the professional is looking for.

TTR's Summaries Will Help

A tax summary is a short, plain English explanation of a tax law, case, agency publication, or other legal authority on tax. This summary gives researchers a good idea of whether the law or publication has what they are looking for - without making them read the entire law or publication first.

TTR's Head of Research described the development of this new feature: "We knew from user feedback that tax professionals spend a lot of time reading tax laws and official documents. Summaries of the law can help - a lot. Even though reading a summary is not a replacement for reading the official document, it allows a researcher to get their bearings before diving into the document itself. Right now, we're in the process of summarizing every tax law, regulation, case, ruling, and other publication - from every state. The best part is that there's no additional charge; everyone benefits from these summaries."