What’s New?

It’s Fresh, Exciting! Our Website, That Is.

It’s important at CCC to constantly improve the services we provide to not only our clients, but all employers.  As a customer service centric organization, CCC is always making small changes to our website to add valuable information that is needed to assist employers in saving time and money. While we updated the look of the site and added some great tools for clients and future clients alike, in this update we wanted to let you know WHO we are. Updates on this release include:

This list is just a few of the changes we’ve made.  Take a tour of the site and let us know what you think. CCC will continue  to improve the website, so visit frequently.

Have a suggestion for CCC.  Reach out to our communications department through our Director of Communications, Pamela Kiel at pkiel@corporatecostcontrol.com .


Unemployment Tax Update

Mid-Year Corporate Structure Changes and Taxable Wage Bases

Corporate structure changes occur for a variety of reasons and generally are prompted by corporate tax reduction opportunities.  Since unemployment tax is often considered a “payroll” tax as opposed to a corporate tax, responsibility is often in a separate team, such as the Payroll Department.  As with any corporate change, there are competing demands and commitments for each of these two teams so occasionally, unemployment tax is not considered in the mix and may lead to unnecessary tax increases.

When corporate structure changes occur during the middle of the year rather than on January 1, opportunities exist to transfer the taxable wages and taxes that were previously paid under the predecessor account from January 1 through the effective date of the transaction.  However, oftentimes, employers are either unaware of this option or they are unable to easily transfer the previously taxed wages from the predecessor’s payroll.  In that instance, a retroactive amendment is possible after the fourth quarter unemployment tax filing due by January 31 of the following year.

To provide an example, assume Company A is purchased and merged into Company B effective July 1.  Company A would have filed quarterly contribution reports and paid taxes on all of its employees for the first and second quarters of that year.  When Company B merges Company A into its structure it moves all of the employees from Company A under the new Federal Identification Number for Company B and therefore files quarterly contribution reports and pays taxes on them for the third and fourth quarters of that same year under Company B.  If Company B does not take credit for taxes previously paid, it will have overpaid taxes for the remaining two quarters.

In many states, if certain statutory requirements are met when the unemployment rate transfer occurs, Company B can take credit for unemployment taxes paid on the wages earned by Company A in the first two quarters of the year.  There are even a few states which will allow Company B to take credit for unemployment taxes paid on the wages earned by Company A if the unemployment tax rate experience is not transferred. Federal taxes also present an opportunity for recoupment of overpaid taxes.

In order to obtain a refund of overpaid taxes, the employer must calculate the overpayment of taxes on each individual and then, complete an amended quarterly contribution report to the applicable jurisdiction for the effected quarters.  Some of the jurisdictions may even request the list of names, Social Security Numbers and amended wages for the affected employees.

Payroll teams today are strapped for resources, so they do not always have the bandwidth to complete the necessary calculations and amendments which can be complicated and time consuming.  Follow up with the jurisdictions once the amendments have been filed can add to the time commitment and frustration level.  Your CCC Tax Analyst is skilled in the calculation and preparation of these refund opportunities.  If you believe you may have historically not taken advantage of the option to transfer credit for taxes previously paid, please contact Wayne Rottger, Director of Tax at wrottger@corporatecostcontrol.com or your CCC Tax Analyst for additional information.


Guideline

How Corporate Cost Control is a Gigabyte Above the Rest

Corporate Cost Control has always been a trend-setter in the workforce solutions industry, with technology  that always sets industry precedents. CCC’s technology is adaptable, secure, and groundbreaking.

CCC is excited to announce the release of Hamlet 3. Hamlet is CCC’s trademarked claims management system. Created by our own Dan Tienes (CTO), Hamlet is CCC’s online platform to manage unemployment cases. This system allows clients and CCC team members to collaborate on unemployment claims information to provide a full and complete response to state unemployment inquiries. Allowing an secure, electronic exchange of information, with an CCC team member preparing a full response, allows CCC clients to obtain more favorable outcomes then our peers. Simple to use yes, Simple response NO. Too many times CCC has heard, that a simple claims responses have led to an unfavorable claim result.

One thing that CCC will never simplify though is our security measures. See Dan Tienes most recent blog on Data Loss Prevention Strategies here. To stay on the cutting edge of technology, CCC will always be tweaking and adapting our Hamlet system to suit the technology needs of the current-day. If you are a current client, contact your Account Executive to get information on the upcoming CCC webinars highlight the new enhancements of Hamlet 3. Future clients should contact our VP of Sales, John Baumgartner at jbaumgartner@corporatecostcontrol.com to learn more about Hamlet and CCC Technology.


Contact CCC to see how we can save your organization time and money.
Contact our Sales Team
(800) 207-6926

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