Mark Patterson, vice president for taxation at Duke Realty Corp. (NYSE: DRE), participated in a video interview during REITwise 2022: Nareit's Law, Accounting & Finance Conference held in Orlando, Florida on March 23-25.
Patterson spoke on a REITwise panel focused on operational/day-to-day tax issues.
During the video interview, Patterson spoke about the utilization of technology in the tax process. He noted that there’s “still a large deficit in the tax technology area,” and discussed some of the technological solutions he has created for Duke’s REIT tax compliance processes. “The more you automate, the more standardized it becomes,” he said.
Patterson says he works closely with IT and accounting to make sure the data being entered is accurate, “otherwise the old 'garbage in garbage out' principle applies."
Patterson also spoke about the efficiencies the technology has created for Duke’s tax operations.