Rimini Street Announces Delivery of 2010-F Tax, Legal and Regulatory Update
Industry Leading Team Provides Fastest "Legislature-to-Live" SM Update Delivery Cycle; Clients Receive Updates Ahead of Software Vendors' Planned Release Dates
Las Vegas, December 6, 2010 - Rimini Street, Inc., the leading third-party maintenance and support provider for enterprise software, including Oracle Corporation's (NASDAQ: ORCL) Siebel, PeopleSoft, JD Edwards, E-Business Suite, and SAP AG (NYSE:SAP) software, today announced delivery of its Tax, Legal and Regulatory Update 2010-F containing critical year-end tax, legal and regulatory updates. Like all previous tax, legal and regulatory updates, Rimini Street provided the update ahead of the software vendors' own planned release dates for equivalent updates.
The year-end 2010-F Update is among the most complex of the year for clients, including U.S. Internal Revenue Service (IRS) tax changes affecting nearly all employers and employees, and Canadian Revenue Agency (CRA) tax changes for dozens of federal, provincial and territorial tax changes that impact a wide range of employers and employees. Many revised year-end reporting requirements were also addressed in this update, including support for revised IRS and CRA transmittal documents and printed forms.
At the U.S. federal level, Update 2010-F includes year-end reporting support for the Hiring Incentives to Restore Employment (HIRE) Act, which provides employers with an exemption from the employer's share of social security tax on wages paid to qualifying employees. Through delivery of its fourth bundle of support for the HIRE Act, Rimini Street builds on previously delivered updates that will enable employers to easily identify, track, report, and obtain credit for eligible employees. Rimini Street also recently delivered required Federal IRS 1099 updates to Rimini Street clients incorporating changes to comply with the IRS's requirements for their Filing Information Returns Electronically (FIRE) system.
Update 2010-F additionally incorporated many state and local tax changes, including revised payroll withholding tables and unemployment insurance taxable wage base figures as well as minimum wage increases and local tax changes across many cities, counties and school districts.
Prior to Update 2010-F, Rimini Street recently delivered international updates for India and Singapore. Updates for India address the Employee's Deposit Linked Insurance (EDLI) tax exempt benefit increase and revised Tax Deducted at Source (TDS) bracket values, among others. Updates for Singapore address foreign worker levy increases and Appendix 8A form changes.
"We require timely, accurate and complete tax, legal and regulatory updates to keep our mission-critical operations running smoothly," said Bill Winkfield, manager, PeopleSoft applications, Gemological Institute of America (GIA). "Rimini Street consistently delivers the updates we need with a very high degree of accuracy and quality. By delivering proven tax, legal and regulatory updates we can rely on, Rimini Street is enabling GIA to continue running our current software releases for many years, maximizing the return on our significant system investment."
Rimini Street's tax, legal, and regulatory strategy and scoping team works with government organizations, secondary, and tertiary sources to ensure the latest tax and regulatory updates for more than 100 countries are immediately identified, analyzed, and scoped for development as needed. The Rimini Street development and quality assurance teams then code, extensively test, package and re-verify updates as necessary for accuracy with government agencies. This proven methodology consistently assures the fastest "legislature-to-live"SM update delivery cycle and highest quality deliverables in the industry.
"Rimini Street clients rely on us to provide timely, accurate and comprehensive tax, legal and regulatory updates so they can correctly process billions of dollars of mission-critical transactions each month," said Brian Slepko, senior vice president, global operations, Rimini Street. "With extensive expertise in delivering tax, legal and regulatory updates in more than 70 countries, and support capabilities in nearly 200 more, Rimini Street remains committed to providing its global, Fortune 500, midmarket and public sector clients with the highest quality deliverables and the fastest 'legislature-to-live' update delivery cycle in the industry."
About Rimini Street, Inc.
Rimini Street is the leading third-party provider of enterprise software support services. The company is redefining enterprise support services with an innovative, award-winning program that enables Oracle and SAP licensees to save at least 50 percent in annual support fees and save up to 90 percent in total support costs over a decade. Clients can remain on their current software release without any required upgrades or migrations for at least ten years. Hundreds of global, Fortune 500, midmarket, and public sector organizations from virtually all industries have selected Rimini Street as their trusted, independent support provider. To learn more, please visit http://www.riministreet.com/ or call within the USA (888) 870-9692 or internationally +1 (702) 839-9671.
# # #
Rimini Street and the Rimini Street logo are trademarks of Rimini Street, Inc. All other company and product names may be trademarks of their respective owners. Copyright © 2010. All rights reserved.