Making the complex simple
The employment tax landscape has changed dramatically in recent years at both the state and federal levels. The SUTA Dumping Prevention Act of 2004 (P.L. 108-295) has imposed certain requirements on state unemployment agencies. As a result of the onslaught of recent (and ongoing) state legislation nationwide, employers are now under much stricter reporting and disclosure requirements related to mergers, acquisitions, restructurings and other employee migrations and corporate events. State agencies are establishing sophisticated "triggers" to highlight employer discrepancies. What were once considered minor reporting violations can now result in severe consequences, such as tax audits, penalty and interest assessments, assigned maximum tax ratings for up to 5 years, and other harsh civil and criminal penalties.
Utilizing Employers Edge's unemployment tax consulting services at the time of a transaction ensures customers meet all statutory reporting and compliance requirements, minimize or prevent (where possible) the carry-forward of any predecessor liabilities and pursue strategies allowed by law to minimize future tax contributions.
As employers inevitably change over the years (structure, name, geographic areas of operation, etc.), they often unknowingly fall out of compliance with applicable Federal and State unemployment reporting regulations. Each state has specific forms that are required to open, close or change the legal name on unemployment insurance accounts or to file proper merger, acquisition or restructure notification. Separate analysis and forms are required to elect transfer of experience and successor-in-interest opportunities.
Employers Edge keeps our customers in compliance
Employers Edge keeps our customers in compliance and ensures the completion of each form/application in the most effective manor eliminating delinquency notices, non-compliance interest and penalties and failures to request desired elections by state specific statutory deadlines. Some states allow special unemployment tax calculation methodology options that can reduce unemployment tax rates in the current and / or future years that should be analyzed each year.
As a duly authorized agent of our customer, Employers Edge has also mediated challenging circumstances with state agencies on behalf of our customers in an effort to secure a more reasonable settlement to an existing dispute/discrepancy.
Our unemployment tax planning experts will make the complex simple and help your company effectively manage the labyrinth of state regulations. We will develop tax strategies compliant with all state and federal regulations to ensure you are paying the lowest unemployment taxes possible.