It’s hard to imagine that in corporate America, where greed is good, employers would allow $10 billion dollars of unclaimed tax credits to remain on the table each year. But that’s exactly what happens, according Wayne C. Neale, vice president of marketing at ITax Group Inc, an ASP and professional services firm that specializes in online tax services.
While the credits are out there, getting them can be time-consuming. The bureaucracy, of course, opens the door for companies like ITax Group. Neale told ASPnews that his company’s two-minute yes/no JobCredits questionnaire lets employers screen potential employees and then find available local, state and federal government job credits.
To help make its software part of the hiring processes at more large corporations, Phoenix-based ITax Group will announce on Monday a strategic alliance with Beaverton, Ore. Unicru Inc., a provider of employee-hiring services. Together, the company will co-market an automated hiring management system aimed at Fortune 1000 companies.
“Together, Unicru and ITax Group deliver a system that increases operation efficiency and maximizes employers’ hiring tax credits,” said Chris Marsh, president and CEO of Unicru. “Businesses improve their bottom line in two ways: by reducing turnover within their organization and consistent capture of tax credits from qualified candidates.”
Designed for employers of hourly workers, Unicru allows companies to measure and improve their hiring process. By adding ITax Group’s Job Credits service, client companies can screen, capture and secure all relevant job credits.
“By working with Unicru, we’re delivering ITax Group services through an automated hiring management system that removes the guesswork and legwork from the process. Businesses can generate job credits ranging from thousands to millions of dollars, which goes directly to their bottom line,” said James Wentworth, CEO of ITax Group.
In addition to screening candidates for available tax credits based on age, veteran-status, geography and many other criteria, ITax Group also handles the physical filing of paperwork needed to secure the credits. Neale told ASPnews that until the use of digital signatures is approved by the federal government “sometime in the next one to three years,” corporations must still submit the forms on paper.
While the forms are on paper, employers can track the status of the submission process through JobCredits’ browser-based software, Neale said. ITax Group is so confident in its ability to save corporations sizable chunks of change that its fee is based solely on whether or not a company earns tax credits. “There’s no set-up fee, no training needed, no risk,” Neale said.
Unicru reports that it processes more than six million job applications a year. Its clients include Blockbuster Video, Metro One, Target, and Bennigan’s and other large retailers, call centers and hospitality businesses.
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