Service Industry Employers to Save Thousands With New Automated Tax Credit Processing

August 17, 2010

CHARLESTON, S.C., Aug. 17 /PRNewswire/ — In 2009, 12 million U.S. hires qualified for federal and state tax incentives, but less than 7 percent of businesses hiring these qualified employees took advantage of credits for their organization. Through a strategic partnership between PeopleMatter and TaxBreak, businesses in the service industry, such as restaurants and convenience stores (C-Stores), can easily take advantage of hiring incentives with automated tax credit processing specifically developed for the hourly workforce.

The PeopleMatter Hire(TM) applicant tracking system integrates with TaxBreak’s award winning processing system, so companies can seamlessly process applicants, from pre-screening to credit certification, saving managers’ time, reducing income tax liability, ensuring compliance and increasing cash flow. PeopleMatter is revolutionizing the talent management industry by fully integrating tax credit processing within a broad product platform targeted toward the service industry.

PeopleMatter Hire’s tax credit application identifies, calculates and processes all current and overlooked federal and state tax credits. These incentives, such as disaster credits, FICA tip credits and the work opportunity tax credit (WOTC) could earn businesses up to $9,000 per new hire. TaxBreak tracks all government and legislative updates, such as the most recently passed Hiring Incentives to Restore Employment (HIRE) Act, to ensure compliance, accuracy and efficiency of processing methods within PeopleMatter’s Hire module. The online application also provides automatic reminders for critical submission deadlines and displays key metrics for administrators with a real-time, interactive dashboard.

“We believe the integration of TaxBreak’s technology and services into PeopleMatter’s product offering is a perfect combination of innovation and ease of use benefiting the company’s bottom line,” said Shannon Scott, TaxBreak president and chief executive officer.

Companies can increase cash flow through a net tax reduction, but local communities also benefit from a degree of social advantage as the WOTC program incentivizes hiring from groups such as veterans, summer hires, disadvantaged youth and recipients of public assistance programs-moving them from economic dependency into self-sufficiency.

“Today, many organizations employ hourly staff who qualify for these incentives yet never reap the benefits of their employee selections. This partnership will truly elevate our customers’ ability to put money back into their pockets while branding their companies as social entrepreneurs,” said Nate DaPore, PeopleMatter president and chief executive officer.

Tax credit processing will be a feature of the PeopleMatter Hire module, available in September. The Hire module also includes an applicant tracking system, talent assessments and background checks. PeopleMatter plans to launch scheduling and learning modules next as part of the PeopleMatter talent ecosystem.

About PeopleMatter

PeopleMatter is a talent management solution for the service industry. We help companies like restaurants and C-Stores hire dependable employees and other service-industry employers, ignite their passion and inspire enduring loyalty by providing a comprehensive suite of HR tools including hiring, learning, scheduling, performance management, rewards and recognition and workplace social media collaboration. Our mission is to transform the workplace by providing managers and employees with tools that catalyze the innate human drive to make a difference–because happy, engaged employees and managers lead to exemplary customer service. PeopleMatter. The name says it all. PeopleMatter is headquartered in Charleston, S.C. and on the Web at www.peoplematter.com.

About TaxBreak

TaxBreak is based in Gadsden, Alabama and was established in 1998 to assist companies of all sizes and their CPAs in identifying and filing for employer tax credits and government incentives that more than 90% of businesses overlook. We aid businesses by identifying options to improve financial performance and lower the effective tax rate. TaxBreak’s proprietary technology efficiently discovers and processes employer tax credits, and our continuous research ensures we are the most current with all employer tax credit-related legislation. When combined with customized processing, we deliver a full-service tax credit solution. For more information, visit TaxBreak online at www.taxbreakllc.com.

SOURCE PeopleMatter

Source: newswire

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