Formidium, a U.S.-based provider of fund technology and back-office solutions, has released a tax allocations and returns module for its fund accounting software, Seamless. The tax allocations module streamlines the process of tax allocations, federal/state returns preparation, tax schedules such as K1s, and returns such as 1099s and 1042s, for SPVs, hedge funds, venture funds, private equity funds, and crypto/digital asset funds. Formidium claims that the new tax allocation module will enable tax professionals and practitioners to spend more time on tax data analysis and complex tax matters.
