Human capital management company ADP has released its Next-Generation Tax Engine, which is now embedded in all its tax compliance offerings.
The Tax Cuts and Jobs Act of 2017 introduced significant new federal tax reforms and has driven similar legislation in more than 40 states, making it difficult for employers to keep up with the changes. ADP aims to tap into this opportunity with its new and improved tax engine.
The new tax engine offers scalable, real-time tax processing, as well as the ability to process various types of taxes, including federal, state, region-specific local taxes and taxes for professional employer organizations (PEOs). The system can scale to handle both high- and low-value transactions, and offers different client choices in payment settlement options.
ADP already has 740,000 clients in over 140 countries, filing nearly 67 million W-2 forms in 2018, giving its new tax engine a strong position.
“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, in a statement. “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.”
