As businesses constantly evolve through growth, restructuring, reduction-in-force, mergers, acquisitions, reorganizations and other employment transformations, there are potential risks and exposures that are critical for companies to be aware and create an environment for employment tax issues and/or opportunities. Most businesses lack the internal resources and focus on employment tax matters exposing them to federal, state and local employment tax audits, large employment tax exposure and/or missed refund opportunities.
SimekScott’s state and local tax (SALT) employment tax consulting services provide businesses with a comprehensive approach to understanding their employment tax picture, any tax exposures or opportunities and reasonable solutions utilizing a holistic approach through:
Business Review: Working with our clients to fully understand their business, US operations and objectives.
Determination: Assessing and reviewing corporate restructuring, M&A activity, employee transformation activities, and other employee movement.
Employment Tax Risk Assessment: Assessing and reporting areas where employment tax areas of risk have been determined.
Employment Tax Audit Defense: Working with client and state to address and resolve employment tax audit issues.
Employment Tax Reorganization Services: Collaborate with client during corporate reorganization and advise on employee transformation objectives.
Reverse Employment Tax Audit (RETA): Review and analyze: corporate structure; operations; reorganizations; M&A activity; and historical filings to determine tax savings and/or refund opportunities..
Compliance: Provide solutions to state employment registration and compliance requirements.
The Work Opportunity Tax Credit (WOTC): Work with client to uncover opportunities utilizing federal government initiative designed to increase employment opportunities for people who have certain barriers to employment and the credit opportunities that reduce clients federal income tax liability.
Tax planning: Determining the best prospective practices to monitor and manage employment tax obligations in an efficient and cost effective manner.
