KPMG Technology Simplifies Tax Season for Boston Red Sox

BOSTON, Mass., April 9^th, 2024 – KPMG LLP, the U.S. audit, tax and advisory firm, has been named the Official Tax Provider for the Boston Red Sox, a Major League Baseball team. Through this engagement, the Big Four firm’s proprietary, cutting-edge technologies will help the Red Sox streamline its tax compliance processes, saving the company significant time and improving accuracy.

"We’re confident in our decision to have KPMG serve as our Official Tax Provider," said Tim Zue, Boston Red Sox Executive Vice President/Chief Financial Officer "We’re impressed both by their innovative technology platforms and the experience and technical knowledge of their people – and we trust that the KPMG team will help enhance our tax compliance efforts."

The Red Sox will benefit from using the KPMG Partnership Transaction Group (PTG) Solution – an enhancement to the KPMG Tax function’s market-leading Asset Management Platform (AMP). Designed to reduce risk and increase transparency as companies fulfill their obligations under tax receivable agreements (TRAs), the tool is unlike legacy software that typically lacks process controls and relies on overengineered computations. With the PTG, companies can more efficiently manage complex partnership transactions, 704(c) allocations and ensure accurate and compliant tax reporting.

"With our PTG Solution enhancement, the Red Sox can go into tax season knowing they are applying the most innovative tools to tax compliance," said John Capone, Office Managing Partner for New England and Upstate New York at KPMG. “We are honored to contribute to their long-term success.”

For more information about KPMG Tax and its services please visit: Tax Services (kpmg.com)

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About KPMG LLP

KPMG LLP is the U.S. firm of the KPMG global organization of independent professional services firms providing audit, tax and advisory services. The KPMG global organization operates in 143 countries and territories and has more than 273,000 people working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.

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KPMG Media Contact

Terra Kliwinski | tkliwinski@kpmg.com