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SOURCE: Prestige Employee Administrators
The Small Business Efficiency Act makes it easier for small businesses to use PEOs to fulfill their employment tax obligations
Melville, NY (PRWEB) March 20, 2013
Prestige Employee Administrators, Inc, a world-class Human Resources outsourcing firm that offers HR Services to small and medium sized businesses, is pleased to support The Small Business Efficiency Act (SBEA), because it will help improve tax compliance by including Professional Employer Organizations (PEOs) in the federal tax code and creating a voluntary certification program for PEOs within the IRS.
The IRS has stated that a certification program for PEOs would make it easier and safer for small businesses to use PEOs to fulfill their employment tax obligations. Small business employees benefit from gaining access to large-employer-type health and retirement benefits from the PEO that might not otherwise be available. In addition, the voluntary certification program will require PEOs to be certified by the IRS.
As stated by the National Association of Professional Employer Organizations (NAPEO), approximately 250,000 small and mid-sized businesses and 2.5 million people are part of PEO arrangements in the U.S. Prestige is excited to see the PEO industry continue to grow from this new act and is looking forward to providing certainty to small and mid-sized companies.
About Prestige Employee Administrators, Inc.
Prestige Employee Administrators, Inc. is a full service Human Resources outsourcing firm that offers strategic Human Resources support, payroll services, employment services and outstanding benefit programs to small and medium sized firms. Commonly referred to as a PEO – Professional Employer Organization, Prestige combines the purchasing power of many smaller companies and can often deliver this expertise at little or no incremental cost to its clients. When you partner with Prestige, companies receive a comprehensive array of services to care for their staff and ease the burden that complex, time-consuming and costly employment related rules, regulations and filing requirements place on a firm. For further information, please visit http://www.prestigeemployee.com.
Marketing Communications Manager
Prestige Employee Administrators, Inc.
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