American Businesses Add More than 1 Million Workers with Help from ADP
ROSELAND, N.J., Nov. 8, 2010 /PRNewswire/ – ADP Ã‚®, a leading provider of HR, payroll, tax, business outsourcing solutions and benefits administration services, today announced that more than 1 million workers entering the workforce have been screened and certified under the federal Hiring Incentives to Restore Employment (HIRE) Act using its industry-leading Tax Credit Services solution.
ADP has worked with more than 1,500 employers since the HIRE Act took effect in March 2010 to screen 1.81 million workers and certify 1.07 million workers to date. The U.S. Department of Treasury recently estimated that between February and August 2010, American companies have added 8.1 million new workers whose hires make their new employers eligible to receive HIRE Act tax credits and exemptions. The HIRE Act is set to expire on December 31, 2010.
“With less than a year to take advantage of the HIRE Act tax credit, many employers faced compliance and processing challenges,” said Deborah Fortin, Vice President of Operations for ADP’s Tax Credit Services division. “As soon as the HIRE Act took effect in March, ADP’s Tax Credit Services was ready to provide screening and certification, compliance, documentation and audit support, along with general administration assistance, so employers could focus on hiring.”
Staffed with more than 500 tax credit professionals and a dedicated team of government relations specialists, ADP also provides employers screening and certification processes for the federal Work Opportunity Tax Credit (WOTC). By providing services for HIRE, WOTC and other employment tax credit opportunities, ADP allows employers to maximize their benefits while bringing many unemployed individuals back into the workforce.
Under the HIRE Act, employers could earn up to a $1,000 tax credit for each qualifying worksite employee hired after February 3, 2010. Employees hired must work for at least 52 weeks for employers to earn the full credit. Hiring companies also receive a Social Security tax exemption for hiring employees after February 3, 2010 who were previously unemployed for at least 60 days, and whose wages did not exceed the Social Security wage base of $106,800.
For more information, please visit www.ADP.com.
Automatic Data Processing, Inc. (Nasdaq: ADP), with nearly $9 billion in revenues and about 550,000 clients, is one of the world’s largest providers of business outsourcing solutions. Leveraging over 60 years of experience, ADP offers a wide range of HR, payroll, tax and benefits administration solutions from a single source. ADP’s easy-to-use solutions for employers provide superior value to companies of all types and sizes. ADP is also a leading provider of integrated computing solutions to auto, truck, motorcycle, marine and recreational vehicle dealers throughout the world. For more information about ADP or to contact a local ADP sales office, reach us at 1.800.225.5237 or visit the company’s website at www.ADP.com.
SOURCE Automatic Data Processing, Inc.