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.”
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.