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REPEAT/Abra Payroll: First with built-in electronic payroll tax compliance for mid-sized businesses.

ST PETERSBURG, Fla.--(BUSINESS WIRE)--May 14, 1996--Best Programs, Inc., the leading provider of fixed asset management, human resource and payroll software solutions, today announced that it has designed the first payroll processing software that incorporates the new federally mandated electronic payroll tax filing capabilites.

As a result of IRS directive 94-48, which becomes effective for most mid-sized corporations on Jan. 1, 1997, businesses with payroll tax liabilities of $50,000 or more for the calendar year 1995 must file their payroll taxes electronically. Abra Payroll(TM) for Windows(TM) will be the first PC-based payroll software to satisfy this federally-mandated requirement early this fall, well ahead of the January 1 deadline.

Conservative estimates indicate that employers with gross annual payrolls of $150,000 or more will be affected by IRS directive 94-48. Non-compliance with the directive will be costly, with penalities of 10% calculated on the employer's total federal payroll tax liability. As mandated in the directive, Abra Payroll for Windows will create compliant files of the payroll tax liabilities and will enable users to send the files electronically to the employer's participating bank.

"Abra Payroll for Windows is known for being the best-of-breed PC solution for payroll processing," said Jim Greenhaus, Vice President of Product Marketing at Abra. "We want to ensure that Abra Payroll clients continue to have the best compliance tools available at their finger-tips."

All Abra Payroll for Windows customers with active maintenance contracts will receive the enhanced electronic version free of charge. Others interested in purchasing Abra Payroll for Windows should call 800/424-9392 or visit Best's web site at http:\\www.bestprograms.com.

Founded in 1982, Best Programs, Inc. is the leading publisher of award-winning, PC software that manages fixed assets, human resources and payroll for medium-sized companies. Products include FAS(TM) for Windows, the fastest-selling fixed asset management system, FASTrack, the fixed asset tracking and inventory system using bar code technology, and the market-leading Abra line of human resources and payroll solutions. Best also publishes M.Y.O.B.(TM), the acclaimed small business accouning package. -0- EDITOR'S NOTE: FAS, FASTrack and FAS Encore! are trademarks of Best Programs, Inc. Abra is a trademark of Abra Cadabra Software and M.Y.O.B. is a trademark of BestWare, which are wholly owned subsidiaries of Best Programs. Windows is a trademark of Microsoft Corporation. All other trademarks are the property of their respective holders.

CONTACT: Best Programs, Inc.

Abra Products Group

Linda Miller, 813/579-1111, ext. 3309

email: linda_miller@bestprograms.com

or

Baron, McDonald & Wells

Rick Fernandez, 770/492-0373

email: rfernandez@bmwpr.com
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Publication:Business Wire
Date:May 15, 1996
Words:431
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