2020 Cares Act Payroll Tax Solution

Act now to take advantage of deferred tax payments

Monday May 4, 2020-2:50 pm CST

 

AspireHR has developed an exciting new ‘pre-built tax solution’ for all SAP and SuccessFactor Customers to take advantage of payroll tax deferrals, allowed by the latest legislation in the 2020 Cares Act!

 

The Opportunity

In response to the COVID-19 pandemic, the US Government has passed multiple pieces of legislation providing for financial relief for hard-hit businesses. The CARES Act, section 2302, outlines provisions that allow eligible employers to defer the employer portion of social security tax for the remainder of 2020. Remittance of the tax is still required, but deferred, with 50% of the deferred amount due December 2021 and the remaining 50% due December 2022.

 

The Solution

AspireHR has developed and successfully implemented a first-of-its kind payroll tax solution for SAP ECC, SAP Employee Central Payroll, and SAP S/4 Payroll customers in the US. Our team of consultants have the knowledge and solutions to help your organization quickly implement solutions to begin realizing the benefits of COVID-19 legislative changes.

 

Get Started

Contact Us at contactus@aspirehr.com
Let’s discuss how we can assist you in expediting these changes, and others,
to assist your organization through these challenging times.