Case Study: FirstEnergy Corp achieves faster federal return preparation and automated Schedule M adjustments with CSC Corptax

Automation Accelerates Federal Adjustments and Reviews

FirstEnergy Corp faced manual, error-prone tax basis tracking for more than 20 entities using consultant-built Excel spreadsheets, resulting in repeated posting/reposting, lengthy manual Schedule M comparisons, and inconsistent workpapers that made reviews slow and unreliable. To solve this, FirstEnergy Corp implemented CSC Corptax enhancements — including virtual account functionality, CSC Corptax Office and Point-of-View (POV) — to centralize data and automate routine postings.

Using CSC Corptax, FirstEnergy Corp automated the posting of M adjustments, centralized a standardized Schedule M workbook, and enabled real-time POV review and reconciliation without repeated system entry. The results include faster federal return preparation (saved 3.4 weeks), 40–60 days saved by automatically computing variances and posting adjustments, a 25% reduction in Schedule M review time, quicker vetting of 30+ Schedule Ms, and greater consistency and confidence across preparers.

FirstEnergy Corp