H.R. 4985 Introduced by U.S. Congressman Kevin Brady
(Scottsdale, AZ—March 29, 2006)—Arizona-based National PEO, one of the southwest’s top professional employer organizations (PEO) announces today its support of H.R. 4985, The Small Business Efficiency Act of 2006. Introduced by U.S. Congressman Kevin Brady on March 16, the bill will benefit small businesses and employees by clarifying current federal tax law related to PEO services.
“The Small Business Efficiency Act amends the tax code to establish a PEO certification process by the Internal Revenue Service (IRS),” said Congressman Brady during a March 20 meeting. “PEOs that meet the certification requirements will be able to better serve their small business clients by assuming sole responsibility for paying wages and collecting federal employment taxes for worksite employees.”
In order to be certified by the IRS, a PEO would be required to meet certain financial and other standards, including having no criminal record, having no unpaid taxes, and posting a bond up to $1,000,000 for the payment of employment taxes.
Todd Belfer, managing partner of National PEO, announced today National PEO’s support of Congressman Brady’s introduction of this bill at the company’s Scottsdale headquarters.
“We see this bill as a move in the right direction toward better serving the small business community,” said Belfer. “As the number of small businesses rise, we see an increased need to assist them in this area. National PEO throws their full support behind this bill.”
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National PEO helps businesses transfer the burden of their human resource function on a low-cost, contractual basis, eliminating the time and cost involved in non-productive, but essential, processes. Their services include Worker’s Compensation and safety management, payroll and Human Resource outsourcing including labor law compliance, employee handbooks, F.L.S.A. and Fair Pay Act compliance, employee relations, training and development, corrective action and conflict resolution, group and individual benefits management, 401K plans, strategic planning and management training seminars. The company also provides Spanish services and background checks.
This press release was sponsored by National PEO, LLC. National PEO is a leading provider of PEO services to hundreds of companies all over the US. Let us handle the burden of Payroll Services, Benefits Administration, Worker’s Comp, and Human Resources for your company. Contact us today to request a quote!
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