ETS Tax intelligence: Mitigation of Overpaid SUI Tax
There are numerous ways that employers are at risk for overpaying state unemployment insurance (“SUI”) tax. This is especially true with employers that operate in multiple taxing jurisdictions and/or have employees performing services in more than one state or jurisdiction during a calendar year.
To avoid or mitigate overpaid unemployment taxes, an employer must first identify areas of potential risk. Once identified, these risks can be quantified to determine the amount of effort, if any, that should be expended to mitigate retroactively and avoid prospectively.
Click on the image below for detail on common SUI overpayment risks for employers:
Equifax assists employers in mitigating the overpayment of SUI tax by performing a risk assessment, securing refunds, and instituting processes and procedures to avoid SUI tax overpayments altogether. Our Employment Tax Services experts can help you identify and recover overpaid taxes. Want to learn more? Click here for more employment tax tips to reduce liability and risk.
Recommended For You
Last updated: September 11, 2020 Unemployment claims anticipated to be filed during this record surge are expected to have a […]
Millions of employees across the United States are working from home to help limit the spread of COVID-19. Sometimes, such […]
How do you know if your organization is close to maximizing its full WOTC potential? Hopefully, your organization is taking […]
Are you minimizing the amount of employment taxes your organization pays during a downsize? Unfortunately, the consensus among economists is […]