ROSELAND, N.J., April 15, 2019 /PRNewswire/ -- ADP®, a
leading global technology company providing human capital
management (HCM) solutions, is changing the way employers think
about tax with its Next-Generation Tax Engine, a foundational
backbone of the company's tax compliance products. This
comprehensive, built-in solution leverages over 40 years of tax
compliance expertise and next-generation HCM technology to minimize
compliance risk and increase efficiency across payroll processes,
for businesses of all sizes.
ADP's new integrated, end-to-end tax engine offers an
unparalleled level of scale in real-time tax processing, as well as
unmatched variety in processing unique types of tax, including
federal, state, region-specific local taxes and PEOs.
With greater automation and real-time information, the
engine's built-in protections help with compliance, exposing
where errors might exist and reducing opportunities for tax
agency notices to occur. Finally, it was designed for scale,
handling both high- and low-value transactions,
and offering more client choice in payment settlement options,
at some of the highest levels seen in the industry.
With over 740,000 clients in over 140 countries, ADP is uniquely
positioned to assist clients with the ever-mounting challenges
associated with year-end processing, filing nearly 67 million W-2
forms in 2018 (a 5% increase from 2017).
"As new regulations impact employment taxes, employers are faced
with increased uncertainty and new compliance risk," said
Pete Isberg, vice president of
government relations at ADP. "This new tax engine is already
enabling ADP to monitor and proactively manage increasing
complexity, while providing a more streamlined tax filing
experience for clients."
With the Tax Cuts and Jobs Act (TCJA) of 2017 introducing
significant new federal tax reforms and driving similar legislation
in more than forty states, it's difficult for employers to keep up
with the changes—let alone comply with them. Thus, ADP tapped
some of the brightest tax experts, product managers, enterprise
architects and software developers to design new
practices and policies. Clients now have the opportunity to address
some of their greatest compliance "pain points," while making data-driven business
decisions faster, and with greater peace of mind.
"Today's agile work environment requires more
flexible integration than ever," said Mollie
Lombardi, founder and principal analyst at m.Research. "With
this new tax engine, ADP is leading the charge in moving tax
processing from a file-based transaction to individual
transactions in real time, helping clients to more
quickly adapt."
To learn more about ADP's tax compliance services, visit
www.ADP.com.
About ADP (NASDAQ: ADP)
Designing better ways to work through cutting-edge products,
premium services and exceptional experiences that enable people to
reach their full potential. HR, Talent, Time Management,
Benefits, Payroll and Compliance informed by data and designed for
people. Learn more at ADP.com
ADP, the ADP logo, and Always Designing for People are
trademarks of ADP, LLC.
Copyright © 2019 ADP, LLC. All rights reserved.
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SOURCE ADP, LLC