Tool developed by Paychex helps firms support business clients
Today, Wolters Kluwer Tax & Accounting announced that users of its award-winning CCH® AnswerConnect online research platform now have access to a Paycheck Protection Program (PPP) loan forgiveness estimator developed by Paychex, Inc., a leading provider of HR, payroll, benefits, and insurance solutions. Wolters Kluwer selected the PPP loan forgiveness estimator from Paychex to provide an integrated online research solution through which tax & accounting professionals can access critical PPP loan forgiveness data to support their business clients as they continue to navigate the complex and changing guidelines for the PPP loan process.
“Following the economic stimulus response to the Covid-19 pandemic, many business owners rely on their tax & accounting firms to help them with PPP loan forgiveness,” said Frans Klaassen, EVP and General Manager for Canada and Research & Learning, US at Wolters Kluwer Tax & Accounting North America. “We chose to partner with Paychex and integrate their PPP loan forgiveness estimator into our growing PPP resources to ensure our CCH® AnswerConnect customers can quickly find the latest PPP developments and critical loan forgiveness information.”
Estimator assists business owners with PPP loan guidance
Paychex’s PPP Loan Forgiveness Estimator assists business owners with understanding how much of their PPP loan may be forgiven by the federal government. When accessing the tool, CCH® AnswerConnect users will be asked to input a variety of information around their clients’ loan and business, including loan amount, payroll costs, mortgage interest, rent and utilities. The tool is updated as new guidance is released on deadlines, extensions, and more.
“As the COVID-19 pandemic continues, many businesses are struggling to understand and make the most of their PPP loans. As such, many are relying on their accountants more than ever to guide them through this difficult time,” said Tom Hammond, Paychex VP of corporate strategy and product management. “We’re proud to have been selected by Wolters Kluwer to help support their customers and their customers’ clients to better navigate the PPP loan forgiveness process.”
Seamless integration with CCH® AnswerConnect
The integration of the PPP loan forgiveness estimator from Paychex into the CCH® AnswerConnect online research platform from Wolters Kluwer extends the longstanding relationship between the two companies. Over the years, Wolters Kluwer and Paychex have continuously collaborated and regularly co-host webinars on timely topics of importance to the tax & accounting profession.
In addition to the tool available through CCH® AnswerConnect, accountants who are registered for Paychex’s AccountantHQ and have clients that utilize Paychex Flex®, the company’s cloud-based HR technology platform, have access to expanded PPP loan forgiveness solutions, including the ability to run signature-ready forgiveness applications.
To access the PPP loan forgiveness estimator powered by Paychex, CCH® AnswerConnect users can visit https://answerconnect.cch.com.
To read the full press release, click here.
Paychex, Inc. (NASDAQ:PAYX) is a leading provider of integrated human capital management solutions for payroll, benefits, human resources, and insurance services. By combining its innovative software-as-a-service technology and mobility platform with dedicated, personal service, Paychex empowers small- and medium-sized business owners to focus on the growth and management of their business. Backed by more than 45 years of industry expertise, Paychex served more than 680,000 payroll clients as of May 31, 2020 across more than 100 locations in the U.S. and Europe, and pays one out of every 12 American private sector employees. Learn more about Paychex by visiting paychex.com and stay connected on Twitter and LinkedIn.
About Wolters Kluwer
Wolters Kluwer Tax & Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy, and efficiency.
Wolters Kluwer Tax & Accounting is part of Wolters Kluwer (WKL), a global leader in professional information, software solutions, and services for the healthcare; tax and accounting; governance, risk and compliance; and legal and regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with advanced technology and services.
Wolters Kluwer reported 2019 annual revenues of €4.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,000 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.
Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt (ADR) program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).
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