“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.”
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.”
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.
About Wolters Kluwer Tax & Accounting
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.