We are pleased to announce that Axcet HR Solutions has been awarded Certified PEO status by the IRS.
Axcet HR is among the first 10% of PEOs nationwide to receive this certification.
Although this is a voluntary IRS certification, we felt it was an important one to obtain. The certification ensures you can have the utmost confidence in our company.
Axcet HR Solutions Among the First to Receive IRS Certification
LENEXA, KS -Axcet HR Solutions(Axcet) has been awarded Certified PEO (CPEO) status by the Internal Revenue Service (IRS). Axcet is honored to be among the first 84 professional employer organizations to receive this designation.
The IRS established this voluntary certification program for PEOs as part of the Small Business Efficiency Act (SBEA) of 2014. To be certified under the new program, Certified PEOs must have a documented history of federal, state, and local tax compliance, financial responsibility, as well as organizational integrity. The voluntary, yet rigorous, the certification process is aimed at identifying the PEOs that meet the high standards for compliance set by the IRS.
Certified PEO clients benefit from this certification in several ways:
With the new quarterly reporting requirements to the IRS,Certified PEO clients can rest assured that employment-related taxes are being handled appropriately.
The IRS cannot hold Certified PEO clients liable for unpaid taxes in the event the Certified PEO doesn’t pay the required taxes. Certified PEOs take sole liability for their clients’ federal employment-related taxes.
Tax Credit Eligibility
The SBEA confirms that clients of Certified PEOs will continue to qualify for specified federal tax credits such as the Work Opportunity Tax Credit (WOTC).
No Double Taxation When a Company Joins a PEO Mid-Year
Under the SBEA, a Certified PEO can be treated as a successor employer for the purposes of Social Security/Medicare (FICA) and Federal Unemployment (FUTA) taxes. This will eliminate the restarting of the FICA and FUTA wage bases when joining a Certified PEO.
To remain certified, Certified PEOs must comply with IRS requirements including annual verification, bonding from a qualified surety, and annual audited financial statements; as well as quarterly assertions, attestations, and working capital statements.
“Axcet has always maintained high standards for financial reporting and accountability. This IRS certification is yet another reason for our clients to have confidence in their partnership with Axcet.” Gerald Diddle, President and Founder, Axcet HR Solutions.
Axcet HR Solutions has been administeringhuman resources, benefits, payroll, safety, and workers' compensation duties for small to mid-sized businesses in the Greater Kansas City metro area since 1988.
The IRS does not endorse any particular certified professional organization. For more information on certified professional organizations go towww.irs.gov.
For information on how Axcet HR Solutions - Kansas City's hometown PEO - can help, visit About PEOs.