2014 FUTA Tax Rates – Credit Reductions and BCR

unemployment insurance

When a state’s unemployment insurance (“UI”) trust fund becomes insolvent, the state has an opportunity to borrow from the federal government in the form of “Title XII” loans to pay unemployment benefits to claimants.  These Title XII loans can increase federal unemployment (“FUTA”) tax rates for employers in the affected states. In general, the net FUTA [Read More…]

Tax Intelligence: The Practice of “Payrolling” (Supplement)

The practice of payrolling

Background Based on feedback received from employers regarding our October 2014 issue of Tax Intelligence on The Practice of “Payrolling,” we are issuing this supplement to provide additional insights into the practice. There appears to be some confusion, and rightfully so, among employers between illegal payrolling practices and legitimate services offered by temporary staffing firms [Read More…]

Employment Tax Webcast Replay: Ask the Experts

employment tax webcast

On October 21st, Equifax hosted an Employment Tax webcast with a panel of experts dedicated to answering your employment tax questions.  The panel included: Rori Carney – Sr. Manager, Employment Tax Consulting Matt White – Director, Employment Tax Services Tom Towson – Sr. Manager, Employment Tax Consulting Scott Bankert – Director, Employment Tax Services The [Read More…]

Tax Intelligence: The Practice of “Payrolling”

Payrolling

The relationship between an employee and an employer generally exists when the organization for whom the services are performed has the right to hire, fire, and direct/control the individual who performs the services.  The foregoing is often referred to as “common law” employer relationship. The common law employer is typically responsible for reporting, remitting, and [Read More…]

2015 State Unemployment Tax Rate Season Preparation

tax season preparation

As November quickly approaches, many more jurisdictions utilizing a calendar year rate will join Oklahoma and Wisconsin in issuing 2015 state unemployment  insurance (SUI) tax rates.  This marks the official beginning of the 2015 “rate season”.  It is important for those charged with administering and managing SU tax rates to be prepared for the issuance [Read More…]

Strategies to Lower Your Unemployment Tax Rate

Lowering your employment tax rate

As the state unemployment insurance (SUI) tax rate season approaches, now is the time to review best practices for reducing your employment tax rate for 2015.  States offer three primary savings opportunities for employers to reduce their overall SUI burden. Voluntary Contributions Voluntary contributions allow employers to make a one-time payment into a state’s UI trust [Read More…]

Tax Intelligence Bulletin: M&A Pre-Clearance Letters

August Tax Intelligence Bulletin

While most Merger & Acquisition (M&A) transactions are not driven by state unemployment insurance (SUI) tax implications, proper due diligence and pre-transaction planning can assist acquiring employers in avoiding unexpected outcomes.  As employers contemplate M&A transactions, which often occur at year end, those responsible for unemployment tax cost management should arm themselves with sufficient information [Read More…]

Tax Intelligence Bulletin: Mid-year M&A Transactions

Mid-year M&A transactions

During the second and third quarters of 2013, there were 4,672 merger, acquisition, reorganization, and divestiture (M&A) transactions totaling $551.2 million in deal value, with projections indicating even higher activity in the second and third quarters of 2014.  Handling the impact of an M&A transaction can be a complex and time-consuming process for employers, especially [Read More…]

Webcast Replay: SUTA Dumping in Retrospect

SUTA Dumping in Retrospect

Our recent webcast, SUTA Dumping in Retrospect:  Analyzing the True Impact for Employers is now available to download.  The webcast offers an opportunity to gain a deeper understanding of the provisions within the SUTA Dumping Prevention Act of 2004.  With this knowledge, employers can avoid behaviors that state workforce agencies may perceive as SUTA Dumping, and [Read More…]