WORKFORCE SOLUTIONS - Equifax · PDF fileWORKFORCE SOLUTIONS. ... Offer your employees...

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Tax Credits and Incentives We know where to look. We combine technology and expertise to identify and capture all the federal, state, and local tax credits available to your organization. WORKFORCE SOLUTIONS

Transcript of WORKFORCE SOLUTIONS - Equifax · PDF fileWORKFORCE SOLUTIONS. ... Offer your employees...

Enterprise zone programs

Job creation incentives

Investment incentives

Research and development incentives

Tax Credits and IncentivesWe know where to look.

We combine technology and expertise to identify and capture all the federal,state, and local tax credits available to your organization.

WORKFORCE SOLUTIONS

Tax Credits and Incentives Each year, employers are eligible to claim billions of dollars in available federal, state, and local tax credits and incentives. However, while these programs can effectively add material value to your company’s bottom line, they can be complex and time consuming to understand and effectively implement. Further, many credits carry forward so that even if they cannot be used in the current tax year, you may be able to use them in the future. By partnering with Equifax, you can maximize tax credit and incentive opportunities.

While federal tax credit programs like the Work Opportunity Tax Credit (WOTC) program are well known, there are numerous state and local programs that many organizations are not aware of, and therefore do not pursue. Here are some of those programs and the states that offer them (in red):

More Equifax Workforce Solutions that save time and money

> Employment Verification Offer your employees automated employment and income verifications.

> Unemployment Cost Management Reduce unemployment costs through claims processing, hearing representation, and reemployment strategies.

> I-9 Management Maintain compliance with immigration and E-Verify® regulations by completing and storing federal I-9s electronically.

> Workforce Analytics Integrate workforce and other relevant data for user-obvious reporting, analytics, and benchmarking.

> Onboarding Collect and manage information for new hire forms online to increase compliance and eliminate costs.

> Tax Credits and Incentives Capture all the federal, state, and local tax credits and incentives you’re eligible for.

> Paperless Pay Offer electronic paystubs and paycards and better manage direct deposits, W-4s, and other employee information.

> W-2 Management Deliver an electronic W-2 option to your employees, including optional paper distribution, reissues, corrections, and tax software upload capability.

> Employment Tax Services Receive comprehensive tax consultation to ensure you are in compliance and identify refund opportunities.

> Assessments Leverage best-in-class assessments and technology to help you identify, hire, and develop the right people.

> Garnishments Diminish the paperwork and liability of employee garnishment processing.

Equifax and EFX are registered trademarks of Equifax, Inc. Inform>Enrich>Empower is a trademark of Equifax, Inc. E-Verify® is a registered trademark of the Department of Homeland Security. © 2012 Equifax Workforce Solutions, a/k/a TALX Corporation, a wholly owned subsidiary of Equifax Inc., Atlanta, Georgia. All rights reserved.

EFX-WS-4005-09/04/2012

For more information, please contact:[email protected]

www.equifaxworkforce.com

Contact Us Today

Tax Creditsand Incentives

“Reduce Tax Liability and Risk”

WorkOpportunityTax Credit

EconomicDevelopment

Incentives

LocationBased

Incentives

Researchand

Recovery

Enterprise zone programs

Job creation incentives

Investment incentives

Research and development incentives

Tax Credits and IncentivesWe know where to look.

We combine technology and expertise to identify and capture all the federal,state, and local tax credits available to your organization.

WORKFORCE SOLUTIONS

Tax Credits and Incentives Each year, employers are eligible to claim billions of dollars in available federal, state, and local tax credits and incentives. However, while these programs can effectively add material value to your company’s bottom line, they can be complex and time consuming to understand and effectively implement. Further, many credits carry forward so that even if they cannot be used in the current tax year, you may be able to use them in the future. By partnering with Equifax, you can maximize tax credit and incentive opportunities.

While federal tax credit programs like the Work Opportunity Tax Credit (WOTC) program are well known, there are numerous state and local programs that many organizations are not aware of, and therefore do not pursue. Here are some of those programs and the states that offer them (in red):

More Equifax Workforce Solutions that save time and money

> Employment Verification Offer your employees automated employment and income verifications.

> Unemployment Cost Management Reduce unemployment costs through claims processing, hearing representation, and reemployment strategies.

> I-9 Management Maintain compliance with immigration and E-Verify® regulations by completing and storing federal I-9s electronically.

> Workforce Analytics Integrate workforce and other relevant data for user-obvious reporting, analytics, and benchmarking.

> Onboarding Collect and manage information for new hire forms online to increase compliance and eliminate costs.

> Tax Credits and Incentives Capture all the federal, state, and local tax credits and incentives you’re eligible for.

> Paperless Pay Offer electronic paystubs and paycards and better manage direct deposits, W-4s, and other employee information.

> W-2 Management Deliver an electronic W-2 option to your employees, including optional paper distribution, reissues, corrections, and tax software upload capability.

> Employment Tax Services Receive comprehensive tax consultation to ensure you are in compliance and identify refund opportunities.

> Assessments Leverage best-in-class assessments and technology to help you identify, hire, and develop the right people.

> Garnishments Diminish the paperwork and liability of employee garnishment processing.

Equifax and EFX are registered trademarks of Equifax, Inc. Inform>Enrich>Empower is a trademark of Equifax, Inc. E-Verify® is a registered trademark of the Department of Homeland Security. © 2012 Equifax Workforce Solutions, a/k/a TALX Corporation, a wholly owned subsidiary of Equifax Inc., Atlanta, Georgia. All rights reserved.

EFX-WS-4005-09/04/2012

For more information, please contact:[email protected]

www.equifaxworkforce.com

Contact Us Today

Tax Creditsand Incentives

“Reduce Tax Liability and Risk”

WorkOpportunityTax Credit

EconomicDevelopment

Incentives

LocationBased

Incentives

Researchand

Recovery

Proven results Measurable return on investment Enable clients to focus on more critical tasks Manage client priorities to maximize credits Match available credits with client approved opportunities Audit management and support

Report summaryEquifax offers online reporting to provide our clients access to the status of their program performance 24/7. This system provides you and your staff with better and faster tools to track and report screening performance metrics, credit calculations, and key performance indicators.

Research and recovery serviceEmployers are challenged with monitoring ongoing changes to tax credit and incentive programs in states where they have operations. Opportunities to secure tax savings may have been overlooked in prior years due to lack of information or resources. Substantial refunds can be secured in a historical review. In addition, audits in progress and open tax years may offer additional recovery opportunities.

Proven results Federal and state programs Empowerment zones/renewal communities Enterprise zones Katrina and other disaster credits HIRE act Job creation and hiring Training and investment

How we do it:WOTC strategic program performance management Existing partnerships – leverage data from other Equifax services (Employment Verifications, Unemployment and I-9 Management) Key performance indicators (KPI) – Daily review and measurement to increase ROI 3rd party databases to secure documentation – increases certification volume and results Online reporting – 24/7 real-time updates with data refreshed daily Dedicated service team –focused on program performance Training and education – maximizes location and program success Government relations – state outreach and legislative advocacy

Experience and expertise National coverage with local insight Simplified and integrated new hire process Independent document collection - 3rd party validation Focus on additional hiring credit opportunities Innovative training and education Dedicated account teams, including WOTC specialists Leverage existing data for location based incentives

Proven results Measurable return on investment Enable clients to focus on more critical tasks Immediate measurement and communication of metrics Transparency through online management reports Proactive and effective government relations team Focused on compliance to maximize credits

Federal, state, and local governments offer geographic (location based) tax credits and incentives. These credits and incentives are designed to encourage job creation, investment, and economic development. Some of these are statutory incentives, while others are negotiated based on an organization’s unique objectives and needs. As companies seek to decrease tax liability, increase profitability, plan capital purchases, expand locations, and increase hiring, tax incentives should be reviewed to support company initiatives.

Equifax uses a combination of experienced tax professionals and proprietary processes to produce a customized Incentive Analysis

(IA) for all your locations to identify all available tax incentive capture opportunities among the thousands of programs that Equifax tracks.

Experience and expertise National coverage with local insight Detailed financial planning review – incentive analysis Team of CPA’s, JD’s, and tax specialists Unique geocoding technology Consultative approach on strategy, design, and execution Dedicated account teams, including location based incentive tax specialists

Work Opportunity Tax CreditThe Work Opportunity Tax Credit (WOTC) program reduces the federal income tax liability of companies who employ individuals who are considered to have barriers to employment. This program was specifically enacted by the federal government to promote the hiring of certain targeted demographic groups. In addition, many states have adopted additional hiring credits that “piggyback” on the WOTC program. These state credits offer similar planning strategies to reduce state income tax liability.

Critical to achieving savings with WOTC is seamless integration in your company’s hiring process. Equifax offers tax credit screening options to meet your applicants where they are, including: paper form screening, call-in screening, and online screening. In addition, Equifax integrates or links to the most popular applicant tracking and employee lifecycle management systems, including Taleo. In fact, Equifax is a certified passport partner in the recruiting module of Taleo Enterprise versions 7.5 and 10.

Based on the current economic situation, employers continue to examine strategies to reduce both federal and state income tax liability. The WOTC program offers federal tax credits ranging from $2,400 to $9,000 per eligible employee.

Tax Credit and Incentive Services

For more information, go to www.equifaxworkforce.com

TCI Tax Management

1. Identification 2. Verification 3. Certification 4. Reporting

New hire process Onboarding Applicant tracking

Screening options Paper Telephone Web

Candidate eligibility WOTC Other screening credits

Methodology Tax questionnaire Form 8850

Compliance 28-day filing deadline Supporting documents

Document Capture Employee specific Third-party validation Administered process

Certifications Received Pending Denied Appealed

Government relations Federal level State level Agency visits Documentation requests Taxpayer advocacy Quality assurance Technology advances

Types Activity based Financial results

Performance Screening compliance Forms compliance Eligibility percent Percent certified Average certification

Management Compliance Lost opportunities Tax report filings

Location based incentives

1 2 3

Analyze Customize Calculate Report

Employer data Locations Head count Industry

Financial review Federal liabilities State liabilities Current credit capture Determine thresholds Open tax years Audits in process Mergers and acquisitions

Incentive analysis Federal programs State programs

Strategy and design Employer initiatives Planned employment Investment growth Projected liabilities Expansions Consolidations Relocation activity Research and recovery

Financial impact Consultative review Confirm programs Calculation methods

Implementation Ongoing data Timely filings Approvals secured Certification received

Incentive delivery Quantify results Track incentives Monitor credits Exception reporting Annual reviews

Tax support Legislative updates Audit defense Ongoing education Dedicated staff

Proven results Measurable return on investment Enable clients to focus on more critical tasks Manage client priorities to maximize credits Match available credits with client approved opportunities Audit management and support

Report summaryEquifax offers online reporting to provide our clients access to the status of their program performance 24/7. This system provides you and your staff with better and faster tools to track and report screening performance metrics, credit calculations, and key performance indicators.

Research and recovery serviceEmployers are challenged with monitoring ongoing changes to tax credit and incentive programs in states where they have operations. Opportunities to secure tax savings may have been overlooked in prior years due to lack of information or resources. Substantial refunds can be secured in a historical review. In addition, audits in progress and open tax years may offer additional recovery opportunities.

Proven results Federal and state programs Empowerment zones/renewal communities Enterprise zones Katrina and other disaster credits HIRE act Job creation and hiring Training and investment

How we do it:WOTC strategic program performance management Existing partnerships – leverage data from other Equifax services (Employment Verifications, Unemployment and I-9 Management) Key performance indicators (KPI) – Daily review and measurement to increase ROI 3rd party databases to secure documentation – increases certification volume and results Online reporting – 24/7 real-time updates with data refreshed daily Dedicated service team –focused on program performance Training and education – maximizes location and program success Government relations – state outreach and legislative advocacy

Experience and expertise National coverage with local insight Simplified and integrated new hire process Independent document collection - 3rd party validation Focus on additional hiring credit opportunities Innovative training and education Dedicated account teams, including WOTC specialists Leverage existing data for location based incentives

Proven results Measurable return on investment Enable clients to focus on more critical tasks Immediate measurement and communication of metrics Transparency through online management reports Proactive and effective government relations team Focused on compliance to maximize credits

Federal, state, and local governments offer geographic (location based) tax credits and incentives. These credits and incentives are designed to encourage job creation, investment, and economic development. Some of these are statutory incentives, while others are negotiated based on an organization’s unique objectives and needs. As companies seek to decrease tax liability, increase profitability, plan capital purchases, expand locations, and increase hiring, tax incentives should be reviewed to support company initiatives.

Equifax uses a combination of experienced tax professionals and proprietary processes to produce a customized Incentive Analysis

(IA) for all your locations to identify all available tax incentive capture opportunities among the thousands of programs that Equifax tracks.

Experience and expertise National coverage with local insight Detailed financial planning review – incentive analysis Team of CPA’s, JD’s, and tax specialists Unique geocoding technology Consultative approach on strategy, design, and execution Dedicated account teams, including location based incentive tax specialists

Work Opportunity Tax CreditThe Work Opportunity Tax Credit (WOTC) program reduces the federal income tax liability of companies who employ individuals who are considered to have barriers to employment. This program was specifically enacted by the federal government to promote the hiring of certain targeted demographic groups. In addition, many states have adopted additional hiring credits that “piggyback” on the WOTC program. These state credits offer similar planning strategies to reduce state income tax liability.

Critical to achieving savings with WOTC is seamless integration in your company’s hiring process. Equifax offers tax credit screening options to meet your applicants where they are, including: paper form screening, call-in screening, and online screening. In addition, Equifax integrates or links to the most popular applicant tracking and employee lifecycle management systems, including Taleo. In fact, Equifax is a certified passport partner in the recruiting module of Taleo Enterprise versions 7.5 and 10.

Based on the current economic situation, employers continue to examine strategies to reduce both federal and state income tax liability. The WOTC program offers federal tax credits ranging from $2,400 to $9,000 per eligible employee.

Tax Credit and Incentive Services

For more information, go to www.equifaxworkforce.com

TCI Tax Management

1. Identification 2. Verification 3. Certification 4. Reporting

New hire process Onboarding Applicant tracking

Screening options Paper Telephone Web

Candidate eligibility WOTC Other screening credits

Methodology Tax questionnaire Form 8850

Compliance 28-day filing deadline Supporting documents

Document Capture Employee specific Third-party validation Administered process

Certifications Received Pending Denied Appealed

Government relations Federal level State level Agency visits Documentation requests Taxpayer advocacy Quality assurance Technology advances

Types Activity based Financial results

Performance Screening compliance Forms compliance Eligibility percent Percent certified Average certification

Management Compliance Lost opportunities Tax report filings

Location based incentives

1 2 3

Analyze Customize Calculate Report

Employer data Locations Head count Industry

Financial review Federal liabilities State liabilities Current credit capture Determine thresholds Open tax years Audits in process Mergers and acquisitions

Incentive analysis Federal programs State programs

Strategy and design Employer initiatives Planned employment Investment growth Projected liabilities Expansions Consolidations Relocation activity Research and recovery

Financial impact Consultative review Confirm programs Calculation methods

Implementation Ongoing data Timely filings Approvals secured Certification received

Incentive delivery Quantify results Track incentives Monitor credits Exception reporting Annual reviews

Tax support Legislative updates Audit defense Ongoing education Dedicated staff

Proven results Measurable return on investment Enable clients to focus on more critical tasks Manage client priorities to maximize credits Match available credits with client approved opportunities Audit management and support

Report summaryEquifax offers online reporting to provide our clients access to the status of their program performance 24/7. This system provides you and your staff with better and faster tools to track and report screening performance metrics, credit calculations, and key performance indicators.

Research and recovery serviceEmployers are challenged with monitoring ongoing changes to tax credit and incentive programs in states where they have operations. Opportunities to secure tax savings may have been overlooked in prior years due to lack of information or resources. Substantial refunds can be secured in a historical review. In addition, audits in progress and open tax years may offer additional recovery opportunities.

Proven results Federal and state programs Empowerment zones/renewal communities Enterprise zones Katrina and other disaster credits HIRE act Job creation and hiring Training and investment

How we do it:WOTC strategic program performance management Existing partnerships – leverage data from other Equifax services (Employment Verifications, Unemployment and I-9 Management) Key performance indicators (KPI) – Daily review and measurement to increase ROI 3rd party databases to secure documentation – increases certification volume and results Online reporting – 24/7 real-time updates with data refreshed daily Dedicated service team –focused on program performance Training and education – maximizes location and program success Government relations – state outreach and legislative advocacy

Experience and expertise National coverage with local insight Simplified and integrated new hire process Independent document collection - 3rd party validation Focus on additional hiring credit opportunities Innovative training and education Dedicated account teams, including WOTC specialists Leverage existing data for location based incentives

Proven results Measurable return on investment Enable clients to focus on more critical tasks Immediate measurement and communication of metrics Transparency through online management reports Proactive and effective government relations team Focused on compliance to maximize credits

Federal, state, and local governments offer geographic (location based) tax credits and incentives. These credits and incentives are designed to encourage job creation, investment, and economic development. Some of these are statutory incentives, while others are negotiated based on an organization’s unique objectives and needs. As companies seek to decrease tax liability, increase profitability, plan capital purchases, expand locations, and increase hiring, tax incentives should be reviewed to support company initiatives.

Equifax uses a combination of experienced tax professionals and proprietary processes to produce a customized Incentive Analysis

(IA) for all your locations to identify all available tax incentive capture opportunities among the thousands of programs that Equifax tracks.

Experience and expertise National coverage with local insight Detailed financial planning review – incentive analysis Team of CPA’s, JD’s, and tax specialists Unique geocoding technology Consultative approach on strategy, design, and execution Dedicated account teams, including location based incentive tax specialists

Work Opportunity Tax CreditThe Work Opportunity Tax Credit (WOTC) program reduces the federal income tax liability of companies who employ individuals who are considered to have barriers to employment. This program was specifically enacted by the federal government to promote the hiring of certain targeted demographic groups. In addition, many states have adopted additional hiring credits that “piggyback” on the WOTC program. These state credits offer similar planning strategies to reduce state income tax liability.

Critical to achieving savings with WOTC is seamless integration in your company’s hiring process. Equifax offers tax credit screening options to meet your applicants where they are, including: paper form screening, call-in screening, and online screening. In addition, Equifax integrates or links to the most popular applicant tracking and employee lifecycle management systems, including Taleo. In fact, Equifax is a certified passport partner in the recruiting module of Taleo Enterprise versions 7.5 and 10.

Based on the current economic situation, employers continue to examine strategies to reduce both federal and state income tax liability. The WOTC program offers federal tax credits ranging from $2,400 to $9,000 per eligible employee.

Tax Credit and Incentive Services

For more information, go to www.equifaxworkforce.com

TCI Tax Management

1. Identification 2. Verification 3. Certification 4. Reporting

New hire process Onboarding Applicant tracking

Screening options Paper Telephone Web

Candidate eligibility WOTC Other screening credits

Methodology Tax questionnaire Form 8850

Compliance 28-day filing deadline Supporting documents

Document Capture Employee specific Third-party validation Administered process

Certifications Received Pending Denied Appealed

Government relations Federal level State level Agency visits Documentation requests Taxpayer advocacy Quality assurance Technology advances

Types Activity based Financial results

Performance Screening compliance Forms compliance Eligibility percent Percent certified Average certification

Management Compliance Lost opportunities Tax report filings

Location based incentives

1 2 3

Analyze Customize Calculate Report

Employer data Locations Head count Industry

Financial review Federal liabilities State liabilities Current credit capture Determine thresholds Open tax years Audits in process Mergers and acquisitions

Incentive analysis Federal programs State programs

Strategy and design Employer initiatives Planned employment Investment growth Projected liabilities Expansions Consolidations Relocation activity Research and recovery

Financial impact Consultative review Confirm programs Calculation methods

Implementation Ongoing data Timely filings Approvals secured Certification received

Incentive delivery Quantify results Track incentives Monitor credits Exception reporting Annual reviews

Tax support Legislative updates Audit defense Ongoing education Dedicated staff

Enterprise zone programs

Job creation incentives

Investment incentives

Research and development incentives

Tax Credits and IncentivesWe know where to look.

We combine technology and expertise to identify and capture all the federal,state, and local tax credits available to your organization.

WORKFORCE SOLUTIONS

Tax Credits and Incentives Each year, employers are eligible to claim billions of dollars in available federal, state, and local tax credits and incentives. However, while these programs can effectively add material value to your company’s bottom line, they can be complex and time consuming to understand and effectively implement. Further, many credits carry forward so that even if they cannot be used in the current tax year, you may be able to use them in the future. By partnering with Equifax, you can maximize tax credit and incentive opportunities.

While federal tax credit programs like the Work Opportunity Tax Credit (WOTC) program are well known, there are numerous state and local programs that many organizations are not aware of, and therefore do not pursue. Here are some of those programs and the states that offer them (in red):

More Equifax Workforce Solutions that save time and money

> Employment Verification Offer your employees automated employment and income verifications.

> Unemployment Cost Management Reduce unemployment costs through claims processing, hearing representation, and reemployment strategies.

> I-9 Management Maintain compliance with immigration and E-Verify® regulations by completing and storing federal I-9s electronically.

> Workforce Analytics Integrate workforce and other relevant data for user-obvious reporting, analytics, and benchmarking.

> Onboarding Collect and manage information for new hire forms online to increase compliance and eliminate costs.

> Tax Credits and Incentives Capture all the federal, state, and local tax credits and incentives you’re eligible for.

> Paperless Pay Offer electronic paystubs and paycards and better manage direct deposits, W-4s, and other employee information.

> W-2 Management Deliver an electronic W-2 option to your employees, including optional paper distribution, reissues, corrections, and tax software upload capability.

> Employment Tax Services Receive comprehensive tax consultation to ensure you are in compliance and identify refund opportunities.

> Assessments Leverage best-in-class assessments and technology to help you identify, hire, and develop the right people.

> Garnishments Diminish the paperwork and liability of employee garnishment processing.

Equifax and EFX are registered trademarks of Equifax, Inc. Inform>Enrich>Empower is a trademark of Equifax, Inc. E-Verify® is a registered trademark of the Department of Homeland Security. © 2012 Equifax Workforce Solutions, a/k/a TALX Corporation, a wholly owned subsidiary of Equifax Inc., Atlanta, Georgia. All rights reserved.

EFX-WS-4005-09/04/2012

For more information, please contact:[email protected]

www.equifaxworkforce.com

Contact Us Today

Tax Creditsand Incentives

“Reduce Tax Liability and Risk”

WorkOpportunityTax Credit

EconomicDevelopment

Incentives

LocationBased

Incentives

Researchand

Recovery