Unemployment Tax Audit Process | Bottom Line Concepts
UNEMPLOYMENT TAX PROCESS
The following Unemployment Tax Planning Services and Tax Savings Techniques are State Approved and in compliance with State & Federal laws. Every technique, recommended or revealed includes the preparation and filing of applications for all 50 state agencies on the Clients behalf. It also includes follow up to completion until the reduced tax rate has been issued and the tax savings or refunds have been secured.
I.RESTRUCTURE PLANNING & ANALYSIS
• Review and provide analysis for every current or past restructure, acquisition, joint venture, reorganization of employees, expansion, retraction, consolidation or legal entity structure change (up to 3 years prior) for Unemployment Tax Rate reduction or refund opportunities Analyze all Transfer of Experience and Reserve Balance tax savings options .
• Provide alternative options during current or planned future restructures for maximum tax savings impact, or potential avoidable or inevitable costs associated with each transaction
• Analyze timing of transaction: (1) review tax cost implications for 12/31 vs 1/1 reorganizations (2) ensure taxable wage bases and UI taxes paid under the predecessor are recognized and credited during mid-year reorganization; (3) make recommendations for optimum timing for greatest UI tax savings impact or cost avoidance • Review closed or dormant UI tax accounts for potential available UI tax reserves
• Review the impact of Common Paymaster, Common Pay Agent, Employee Leasing or PEO type structures
• (If Desired) Contact the acquired or predecessor company to retrieve all necessary UI tax documents to review impact to client • Provide reorganization materials to include in corporate M&A due diligence initiatives
II.REGISTRATIONS, ACCOUNT CLOSURES AND NAME CHANGES
• Prepare and file all Unemployment registration applications including but not limited to: New Business Registration, Total Transfer Applications, Partial transfer applications, Account Closures, Wage Continuation forms, Refund Request Forms, • Prepare and file State Withholding applications (at Clients request and at discretion of BLC) • Provide Questionnaire and engage in discussions with the Client to ensure all aspects of the applications are complete to ascertain proper headcounts, predecessor information (if applicable) and all data necessary to complete the forms
• Review options available for UI tax transfers of experience • Reactivated dormant UI Tax Accounts when beneficial (if available) and previous employment occurred (Utilize positive experience erroneously left behind)
• File UI Tax Account Closure forms to avoid penalties and excess filings) • File Name Change letters with Articles of Amendment in every state applicable