Combines 40 years of Tax Expertise with Enhanced Technology to Streamline Processes
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 (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.
View original content to download multimedia:http://www.prnewswire.com/news-releases/adp-simplifies-tax-compliance-with-next-generation-tax-engine-300831876.html