July 18, 2011
Workstream’s Incentives Advisors Joins Forces with Ceridian to Provide Employers with Tax Credits and Incentives
LAS VEGAS, July 18, 2011 /PRNewswire/ -- Workstream (OTCBB: WSTMF) announced today that its Incentives Advisors division, is partnering with Ceridian Corporation, a leading provider of human resource, benefits administration, workforce management, payroll outsourcing and tax filing solutions, to provide businesses with tax credit and incentive solutions. Incentives Advisors is a leader in helping businesses improve profits by identifying, administering, and securing government incentives relating to their hiring and employment activities. The announcement was made during INSIGHTS, Ceridian's four day annual customer conference in Las Vegas, July 18-21. The new Ceridian Tax Credit Services helps clients use government tax credit programs to improve their bottom line results while expanding their business.
"There are a hundreds of federal and state hiring and employment tax incentive programs in existence, so keeping abreast of the ever-changing legislation and documentation required to use these tax credits can be daunting," said Bart Valdez, Ceridian executive vice president and chief commercial officer. "Incentives Advisors' expertise in nationwide incentives as well as their proprietary screening technology makes it easy for employers to take advantage and maximize the benefit of these programs."
Historically, Congress has authorized billions in incentives to stimulate hiring and encourage economic development in cities and rural areas throughout the country. Many government economic development incentives go unclaimed because businesses are simply unaware of them or they do not have the time or the tools to take advantage of the programs.
"In many cases, employers can take tax credits and apply them directly to their corporate tax liability, or in the case of pass through entities such as sub "S", LLC or partnerships, the tax credits can impact owner or shareholder tax liability," notes Bill Becker, CEO of Incentives Advisors. "Tax credit services like those offered by Ceridian and IA can work with organizations and their tax advisors to determine their ability to utilize these credits. If an employer is investing in their workforce or business, it is likely there are additional incentives available."
Programs vary state by state and even by county. Not only does the service capture the HIRE Act and Work Opportunity Tax Credit (WOTC) federal programs, but the dynamic questionnaire also screens for more than 100 state and local hiring-related incentive programs as a seamless part of the candidate screening process. Clients reduce 90% of the paperwork by printing tax credit forms for eligible hires only. Receiving credits is simplified as all of the required paperwork is prepared by IA.
Ceridian Tax Credit Services uses a straight forward process to help companies get started. Ceridian clients can learn more by stopping by the Incentives Advisors booth in the Solution Center at the Bellagio, during Ceridian's INSIGHTS conference, or visit www.ceridian.com.
About Incentives Advisors
Incentives Advisors (IA) is the industry leader in helping businesses identify and obtain hiring tax credits and incentives. IA is a Workstream, Inc. (OTCBB: WSTMF) company, a leading provider of Human Capital Management software solutions. To learn how Incentives Advisors can help companies become more profitable, visit www.incentivesadvisors.com.
Ceridian is a leading global business services company. From workforce management and benefits administration to payroll outsourcing and tax services, Ceridian helps organizations maximize their human, financial and technology resources. With more than 130,000 clients supporting 25 million employees, Ceridian currently manages more than $100 billion a year in financial transactions and is one of the nation's largest HR/payroll providers. In addition, Ceridian provides benefit eligibility and enrollment services to large and small employers. For more information about Ceridian visit www.ceridian.com or call 800-729-7655.
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of Workstream's management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: inability to grow our client base and revenue because of the number of competitors and the variety of sources of competition we face; client attrition; inability to identify or complete the acquisition of quality target businesses; inability to integrate acquired businesses; inability to offer services that are superior and cost effective when compared to the services being offered by our competitors; inability to further identify, develop and achieve success for new products, services and technologies; increased competition and its effect on pricing, spending, third-party relationships and revenues; as well as the inability to enter into successful strategic relationships and other risks detailed from time to time in filings with the Securities and Exchange Commission, including but not limited to those set forth under "Risk Factors" in Workstream's annual report on Form 10-K. The forward-looking statements herein reflect the company's expectations as at the date of this press release and are subject to change after this date.
SOURCE Workstream, Inc.