Asure Files for More Than $200M in Employee Retention Tax Credits Stimulus on Behalf of Clients

Rhea-AI Summary

Asure Software (Nasdaq: ASUR) announced it has filed for over $200 million in stimulus for its clients under the Employee Retention Tax Credit (ERTC) program. Pat Goepel, CEO, emphasized the importance of this funding, noting many small and mid-sized businesses were unaware of their eligibility. Asure's ERTC Filing Service aims to help clients identify eligible wages, calculate credits, and file amended returns efficiently. With a focus on education about the program, Asure anticipates increased filings as businesses become aware of potential benefits.

Positive

• Filed for over $200 million in ERTC, providing significant financial relief to clients.
• Offers a comprehensive ERTC Filing Service to streamline client access to credits.
• Education initiatives expected to drive increased client participation in ERTC.

Negative

• None.

AUSTIN, Texas, Feb. 14, 2022 (GLOBE NEWSWIRE) -- Asure Software, Inc., (Nasdaq: ASUR), a leading provider of cloud-based Human Capital Management (“HCM”) software solutions, today announced they have filed for more than $200 million in stimulus on behalf of their clients as part of the Employee Retention Tax Credit (ERTC) program.

“Getting this critical stimulus money in the hands of our clients is incredibly gratifying,” said Pat Goepel, Chairman, and CEO of Asure. “Early in the pandemic, so much of the focus was on PPP loans and loan-forgiveness. But, because the ERTC program is more complex, many small and mid-sized businesses just didn’t realize how much stimulus was available to them” added Goepel.

Asure’s ERTC Filing Service helps new and existing clients receive this stimulus. The program includes three key elements:

• Review Qualified Wages – With client’s payroll data, Asure identifies eligible wages, including qualified health plan expenses.
• Calculate Credit Amount – Asure calculates eligible ERTC wages, taking into consideration the required offsets of wages paid with PPP funds.
• File Amended Returns – Asure processes the credits in our payroll system for audibility and files the necessary amended tax returns.
  

Asure’s Guide to Employee Retention Tax Credits provides businesses with details of the program including decision-trees to help determine eligibility.

“Because so many businesses were understandably focused on PPP loans in 2020 and 2021, many executives don’t realize they were eligible and can still retroactively apply for these tax credits.” Said Pat Goepel. “We’re working hard to educate clients on the eligibility rules and expect many more businesses will file for ERTC stimulus once they learn the details of the program.”

About Asure Software

Asure (Nasdaq: ASUR) is a leading provider of Human Capital Management (“HCM”) software solutions. We help small and mid-sized companies grow by assisting them in building better teams with skills to stay compliant with ever-changing federal, state, and local tax jurisdictions and labor laws, and better allocate cash so they can spend their financial capital on growing their business rather than back-office overhead expenses. Asure’s Human Capital Management suite, named Asure HCM, includes cloud-based Payroll, Tax Services, and Time & Attendance software as well as human resources (“HR”) services ranging from HR projects to completely outsourcing payroll and HR staff. We also offer these products and services through our network of reseller partners. Visit us at asuresoftware.com.

Investor Relations Contact
Randal Rudniski
Vice President, Investor Relations, Financial Planning & Analysis
512-859-3562
randal.rudniski@asuresoftware.com 

FAQ

What is Asure Software's recent announcement regarding ERTC?

Asure Software has filed for over $200 million in stimulus on behalf of its clients as part of the Employee Retention Tax Credit (ERTC) program.

How does Asure Software help clients with the ERTC?

Asure's ERTC Filing Service helps clients by reviewing qualified wages, calculating credit amounts, and filing amended tax returns.

How much stimulus funding has Asure Software filed for clients?

Asure Software has filed for more than $200 million in stimulus funding for its clients under the ERTC program.

What impact could Asure Software's ERTC services have on small businesses?

Asure's ERTC services could provide significant financial relief to small and mid-sized businesses that may not be aware of their eligibility for tax credits.

When did Asure Software announce their ERTC filing?

Asure Software announced their ERTC filing on February 14, 2022.