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 PaychexPaychex, 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 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.