Software vendor
Thomson Reuters
Thomson Reuters, a Toronto-based public company, sells ONESOURCE tax software and CoCounsel Tax, an AI research and drafting assistant for in-house tax teams.
Function
- Ownership
- PublicSourcesThomson Reuters Annual Report 2025 (Exhibit 99.1 to Form 40-F filed March 5, 2026)SEC EDGAR submissions index for Avalara, Vertex, Zuora and Thomson Reuters
Files annual reports on Form 40-F; Woodbridge and its affiliates beneficially owned about 70% of common shares as of March 2, 2026.
- Headquarters
- CanadaSourceThomson Reuters Annual Report 2025 (Exhibit 99.1 to Form 40-F filed March 5, 2026)
- SEC reporting
- YesSourceSEC EDGAR submissions index for Avalara, Vertex, Zuora and Thomson Reuters
- Audit firm
- No
- Website
- SourceThomson Reuters ONESOURCE
- Subprocessor list
- Not stated
- Contract terms
- Not stated
Offering · Software
CoCounsel Tax for corporate tax departments
Thomson Reuters describes CoCounsel Tax as cited, audit-ready analysis for in-house tax teams, grounded in its Checkpoint content, in one workspace that brings Checkpoint, SharePoint and internal systems together. SourceCoCounsel Tax for corporations
It lists cited research answers, analysis of uploaded documents, guided templates for multistep tasks and memo drafting. SourceCoCounsel Tax for corporations
Its 2025 annual report describes CoCounsel for Tax & Audit, a product name the CoCounsel Tax page does not use, as a generative AI platform using large language models. SourceThomson Reuters Annual Report 2025 (Exhibit 99.1 to Form 40-F filed March 5, 2026)
Thomson Reuters states that uploaded documents are never used to train its AI models. SourcesCoCounsel Tax for corporationsCoCounsel plans for in-house tax and accounting teams
Where it fits
CoE analysis A research and drafting assistant for corporate tax positions and technical memos, subscribed separately and used alongside tax systems rather than built into them, not a calculation or filing engine.
CoE analysis The page suggests output can go to auditors without additional checking, a claim to test against the team's own review standard before relying on it. SourceCoCounsel Tax for corporations
What it does
- Offering type
- SoftwareSourcesCoCounsel Tax for corporationsThomson Reuters Annual Report 2025 (Exhibit 99.1 to Form 40-F filed March 5, 2026)
- Workflow areas
- TaxSourceCoCounsel Tax for corporations
- Customer size
- Not stated
AI
- Kind of AI
- General-purpose assistantSourcesCoCounsel Tax for corporationsCoCounsel plans for in-house tax and accounting teams
- Suggests or acts
- SuggestsSourceCoCounsel Tax for corporations
- Availability
- Not stated
Sold through plans for in-house teams; no availability labels.
- Models named
- Not stated
Control
- Who controls it
- Individual userSourcesCoCounsel plans for in-house tax and accounting teamsCoCounsel Tax for corporations
Individual users choose prompts, uploaded documents and templates (C-3991); uploads sit in a private workspace with role-based access controls (C-3996), which implies an administrator the sources do not describe.
Commercial
- Pricing model
- Quote onlySourceCoCounsel plans for in-house tax and accounting teams
- Public price
- Not stated
Evidence
- Independent outcomes
- None found in the sources read.
- Sources read
- Vendor-stated 6
- Independent market evidence 1
- Independently verified outcomes None read
- Pricing 1
- Known limitations 1
- Coverage
- Directory record
- Last verified
Security and control
- Single sign-on
- Not covered in this record
- User provisioning
- Not covered in this record
- Role-based access
- Not covered in this record
- Administrator controls for AI
- Not covered in this record
- Audit logs
- Not covered in this record
- Certifications
- Not covered in this record
- Data retention
- Not covered in this record
- Data residency
- Not covered in this record
- Training on customer data
- Not covered in this record
AI features
As the vendor or firm describes them. Notes in small print record what the sources leave open.
Cited tax research
Answers multijurisdictional questions with full citations to Checkpoint, IRS code and government web sources.
- Kind
- General-purpose assistant
- Suggests or acts
- Suggests
- Who controls it
- Not stated
- Availability
- Not stated
Control: Not stated in the sources read.
SourcesCoCounsel Tax for corporationsCoCounsel plans for in-house tax and accounting teamsDocument analysis
Uploads and analyzes multiple documents simultaneously and surfaces relevant regulations and issues with citations.
- Kind
- General-purpose assistant
- Suggests or acts
- Suggests
- Who controls it
- Not stated
- Availability
- Not stated
Control: Not stated in the sources read.
SourceCoCounsel Tax for corporationsGuided templates and drafting
Completes multistep tasks with guided templates and drafts memos, technical positions and regulatory summaries from a single prompt.
- Kind
- General-purpose assistant
- Suggests or acts
- Suggests
- Who controls it
- Not stated
- Availability
- Not stated
Control: Not stated in the sources read.
SourceCoCounsel Tax for corporations
Questions to ask
For this offering
- Which model providers process our prompts and uploaded documents, where, and for how long are prompts, outputs and uploads kept?
- Is the commitment that our uploads are never used for training in our contract, and does it cover outputs and feedback?
- Is CoCounsel output generative, so that the same question can return a different answer, and how do we keep a record of the answer and sources we relied on?
- What review does Thomson Reuters expect before a memo goes to our auditors, given the page's statement about sharing without additional checking?
- How is CoCounsel Tax priced for our team, and what is the billing unit?
From the diligence question set
- DQ-02 Which AI features depend on models, data or services from third parties, and how do you assess and monitor those providers?
- DQ-09 Is each output generative or deterministic, what does any confidence score mean, and can a past output be reproduced and explained?
- DQ-15 Can a reviewer see the sources behind each output, and can someone else re-perform or trace it?
- DQ-16 Is our data, including inputs, outputs, documents and corrections, used to train or improve any model, yours or a third party's? Is that off by default, and is the commitment in the contract?
- DQ-17 How long are prompts, outputs and logs kept, where are they stored and processed, and can we have them deleted?
- DQ-19 How are the AI features priced: included in the subscription, sold as an add-on or higher tier, or metered by use? What is the billing unit?
Offering · Software
Thomson Reuters ONESOURCE
Thomson Reuters describes ONESOURCE as end-to-end cloud software for tax, trade and financial reporting, covering indirect tax and e-invoicing, provision, income tax compliance, statutory reporting and information reporting. SourceThomson Reuters ONESOURCE
It says ONESOURCE is used by companies from small businesses to multinationals, with over 100,000 users across 21,000 businesses. SourceThomson Reuters ONESOURCE
Its 2025 annual report says the corporate strategy is built around ONESOURCE+, combining proprietary content with AI-driven workflow software including CoCounsel AI and agentic technology. SourceThomson Reuters Annual Report 2025 (Exhibit 99.1 to Form 40-F filed March 5, 2026)
Where it fits
CoE analysis Corporate tax department software spanning direct and indirect tax, provision and statutory reporting.
CoE analysis The AI documented in the sources read is research assistance inside ONESOURCE rather than automated determination or filing.
What it does
- Offering type
- SoftwareSourceThomson Reuters ONESOURCE
- Workflow areas
- SourceThomson Reuters ONESOURCE
- Tax
- Reporting and disclosure
- Customer size
- SourceThomson Reuters ONESOURCE
- Small business
- Mid-market
- Enterprise
AI
- Kind of AI
- Built into the platformSourcesThomson Reuters ONESOURCEThomson Reuters Annual Report 2025 (Exhibit 99.1 to Form 40-F filed March 5, 2026)
- Suggests or acts
- SuggestsSourceThomson Reuters ONESOURCE
- Availability
- Not stated
No availability terms for AI features in ONESOURCE were found in the sources read.
- Models named
- Not stated
Control
- Who controls it
- Not stated
Not stated in the sources read.
Commercial
- Pricing model
- Not stated
- Public price
- Not stated
Evidence
- Independent outcomes
- None found in the sources read.
- Sources read
- Vendor-stated 5
- Independent market evidence None read
- Independently verified outcomes None read
- Pricing None read
- Known limitations None read
- Coverage
- Directory record
- Last verified
Security and control
- Single sign-on
- Not covered in this record
- User provisioning
- Not covered in this record
- Role-based access
- Not covered in this record
- Administrator controls for AI
- Not covered in this record
- Audit logs
- Not covered in this record
- Certifications
- Not covered in this record
- Data retention
- Not covered in this record
- Data residency
- Not covered in this record
- Training on customer data
- Not covered in this record
AI features
As the vendor or firm describes them. Notes in small print record what the sources leave open.
AI-assisted regulatory research
A regulatory research tool powered by Checkpoint Edge with CoCounsel.
- Kind
- Built into the platform
- Suggests or acts
- Suggests
- Who controls it
- Not stated
- Availability
- Not stated
Control: Not stated in the sources read.
SourceThomson Reuters ONESOURCEONESOURCE+ with CoCounsel AI and agentic technology
Strategy described in the annual report: unifying tax, trade, legal and risk functions with AI-driven workflow software, including CoCounsel AI and agentic technology.
- Kind
- Built into the platform, Agents and automated actions
- Suggests or acts
- Not stated
- Who controls it
- Not stated
- Availability
- Not stated
Control: Not stated in the sources read.
SourceThomson Reuters Annual Report 2025 (Exhibit 99.1 to Form 40-F filed March 5, 2026)
Questions to ask
For this offering
- Which AI features are in the ONESOURCE modules we license today, and which belong to ONESOURCE+ or separate CoCounsel subscriptions?
- Which models and providers process our tax data in AI-assisted research and any agentic features, and is our data used to train them?
- Do any ONESOURCE AI features calculate, determine or file, or are they limited to research and drafting?
- Does the SOC report for ONESOURCE cover its AI features?
From the diligence question set
- DQ-02 Which AI features depend on models, data or services from third parties, and how do you assess and monitor those providers?
- DQ-04 Which AI features are in the modules and edition we license, or would license, and is each generally available, in preview or beta, a paid add-on, or limited by edition or region?
- DQ-10 What data does each feature read, from which modules, documents or outside sources, and what data can it not see?
- DQ-16 Is our data, including inputs, outputs, documents and corrections, used to train or improve any model, yours or a third party's? Is that off by default, and is the commitment in the contract?
- DQ-19 How are the AI features priced: included in the subscription, sold as an add-on or higher tier, or metered by use? What is the billing unit?
