Asure Affirms Support for IRS Measures Against Fraudulent ERC Claims
2023年9月16日 - 2:56AM
Asure Software, Inc. (“we”, “us”, “our”, “Asure” or the “Company”)
(Nasdaq: ASUR), a leading provider of cloud-based Human Capital
Management (“HCM”) software solutions, today voiced its steadfast
support for the Internal Revenue Service’s (“IRS”) intensified
efforts to counteract fraudulent claims linked to the Employee
Retention Credit (“ERC”). Aligned with the IRS’s commitment to
safeguard taxpayers and ensure the rightful allocation of tax
credits, Asure emphasizes its dedication to transparency, accuracy,
and integrity in the processing of ERC.
In response to the recent notice from the IRS,
Asure seeks to reassure its clients and investors. The Company’s
primary role remains to disseminate precise information and guide
clients to official IRS resources. This empowers them to assess
their ERC eligibility in tandem with their CPA or attorney.
Furthermore, Asure ardently wishes for its clients to obtain the
tax credits they are eligible for, emphasizing the importance of
rightful claims.
“We wholeheartedly back the IRS’s drive to
eradicate fraudulent claims,” confirmed Pat Goepel, Chairman and
CEO. “Our enduring mission is to help small businesses grow. We
stand ready to assist them in accessing authoritative IRS resources
securing any tax credits they’re lawfully entitled to.”
Asure’s core business model is fundamentally
anchored in the recurring revenue generated from payroll, HR
services, and interest income on float. While the ERC offers a
one-time opportunity, it does not form the core of Asure’s
long-term strategy. As further described in Asure’s recent 10K
filing with the SEC for the year December 31, 2022, Asure
acknowledged the potential risks associated with the ERC,
especially given this new guidance from the IRS. At this point,
Asure does not anticipate changes to its guidance for the fiscal
quarter ended September 30, 2023, or the year ended December 31,
2023. Asure is continually monitoring the IRS rules and program
updates.
About Asure Software, Inc.
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 AsureHCM™, includes
cloud-based Payroll, Tax Services, and Time & Attendance
software and Asure Marketplace 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.
Forward-Looking Statements
Certain statements made in this press release
are “forward-looking statements”. Forward-looking statements may be
identified by the use of words such as “anticipate”, “believe”,
“expect”, “estimate”, “plan”, “outlook”, and “project” and other
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements reflect the current analysis of existing
information and are subject to various risks, uncertainties and
assumptions over which we have no control. If any such risks or
uncertainties materialize or if any of the assumptions prove
incorrect, our results could differ materially from the results
expressed or implied by the forward-looking statements we make. As
a result, caution must be exercised in relying on forward-looking
statements. The following factors, among others, could cause actual
results to differ materially from those described in these
forward-looking statements: (1) risks associated with our rate of
growth and anticipated revenue run rate, including impact of the
current environment; (2) reductions in employment and an increase
in business failures, specifically among our clients; (3) our
ability to convert deferred revenue and unbilled deferred revenue
into revenue and cash flow, and ability to maintain continued
growth of deferred revenue and unbilled deferred revenue; (4)
possible fluctuations in the our financial and operating results;
(5) the expiration of major revenue streams such as Earned
Retention Tax Credits or changes in the approach to such credits by
governmental agencies, including the Internal Revenue Service or
suspensions to these programs; and (6) our ability to continue to
release, gain customer acceptance of and provide support for new
and improved versions of our services. Please review the Company’s
risk factors in its annual report on Form 10-K filed with the
Securities and Exchange Commission (the “SEC”) on February 27, 2023
and its quarterly report on Form 10-Q filed with the SEC on August
7, 2023. The forward-looking statements contained in this press
release represent the judgment of the Company as of the date of
this press release, and the Company expressly disclaims any intent,
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements to reflect any change
in the Company’s expectations with regard to these forward looking
statements or any change in events, conditions or circumstances on
which any such statements are based.
© 2023 Asure Software, Inc. All rights reserved.
Contact Information
Randal Rudniski |
Vice President, Financial
Planning & Analysis and Investor Relations |
512-589-3562 |
randal.rudniski@asuresoftware.com |
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