Payroll Tax Filing and Compliance

Relax and trust IOI with your tax-filing management and regulatory compliance by taking advantage of our tax filing service through IOIPay®. We provide you with freedom from the risks associated with payroll tax management and the time spent in calculating, filing and depositing your taxes. This allows you to invest your time in pursuit of your company's strategic objectives.

Compliance
IOI's payroll tax experts work directly with our clients to manage compliance with federal, state and local payroll tax requirements. Our tax and compliance team maintains the detailed tax rules that are current with the most recent tax laws. We support all federal payroll programs including COBRA reimbursements and qualified FICA tax exemptions under the new federal HIRE Act. IOIPay easily handles the most complicated compliance issues as it allows for an unlimited number of localities and accurately calculates state and local tax rate differentials. IOIPay is your partner for all payroll and payroll tax compliance.

Tax Payments and Filing Services
With our IOIPay tax filing service, we calculate, reconcile and deposit your payroll taxes and file all required payroll tax returns for federal, state and local authorities. Our payroll tax service makes your deposits and files accurate returns on-time, protecting you from very costly penalties of missing agency deadlines. We provide you with easy-to-read quarterly reports that provide a summary of deposit details as well as electronic copies of payroll tax returns filed on your behalf.

Tax Credit Services

IOI can help your business take advantage of valuable tax credits through our Tax Credit Services. We make it easy for companies to obtain certification for employees who qualify for various corporate tax credits.

Work Opportunity Tax Credit (WOTC)

WOTC is a federal tax credit incentive that Congress provides to private-sector businesses for hiring individuals from twelve target groups who have consistently faced significant cant barriers to employment.

How does WOTC work?

Employing qualified target group members can reduce an employer’s federal income tax liability. At the end of the tax year, the employer claims a credit of up to $2,400 for most WOTC certified new hires.

The WOTC tax credit is:

» 25% of wages paid for certified employees that worked at least 120 hours but less than 400 hours, and
» 40% of wages paid for certified employees that worked 400 hours or more, up to the maximum allowable tax credit. There are other credit levels dependent upon the specific target group.

New HIRE Act Retention Credit

For HIRE Act qualified employees, employers will be eligible for the $1,000 retention income tax credit once the employees attain the required 52 consecutive weeks of employment. The tax credit is worth 6.2% of wages paid to the employee or $1,000 (whichever figure is less). The tax credit is claimed by the employer on its business income tax return for 2011.

Health Care Insurance Tax Credit for Small Employers

The Patient Protection and Affordable Care Act created IRC §45R, which allows for a tax credit for certain employers that provide health insurance to their employees. The credit is available for certain businesses and is applicable to both for-profit and not-for-profit employers as follows: For-profit entities are allowed an income tax credit of up to 35% (50% beginning January 1, 2014) of the amounts expended for health insurance premiums for its employees.

Land Based Tax Credit Initiatives

IOI will analyze your business to determine if these credits are applicable to your company’s location. Examples include the Federal Empowerment Zone, Renewal Community Initiative, Indian Employment Credits, and more!

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IOI Tax Credit Services helps your business maximize corporate tax credits by:

• Analyzing tax credit opportunities for your business
• Qualifying and screening your employees and business for tax credits
• Automatically calculating, tracking and reporting tax incentive credits

*Nominal fees may apply for certain qualified tax credits for administration of this service.

Contact IOI for a complimentary analysis and review of the tax credits available to you.