Center Point Business Solutions, LLC, a PEO firm based in Union City, TN, is proud to announce that they have been officially re-certified as a Certified Professional Employer Organization (CPEO). A program launched by the IRS in 2017 in response to the Tax Increase Prevention Act of 2014, Center Point is certified by the IRS as a provider of services in which an employer can outsource various tasks for employee management, such as payroll, employee benefits administration, workers' compensation, training and development, and recruitment.
Kim Watts, Chief Operating Officer of Center Point, says: "The initial certification process was intricate and time-consuming with audit requirements, background checks on owners and key employees, and various other required disclosures. Despite that, Center Point felt that being distinguished as a CPEO was a significant step for us and for our industry. We believe that certification brings an added value to clients doing business with certified PEO's."
In order to obtain a CPEO certification, a company has to complete a registration process and provide information that relates to each of the responsible individuals within the company. Furthermore, the company has to provide various kinds of evidence to the IRS through documented reports on an ongoing basis. These reports have to demonstrate how all of the requirements continue to be met.
The PEO industry is highly regulated by the government and the IRS certification is another factor that sets it apart from the traditional staffing industry. The PEO industry is very unique in that the employees are employed by the client with the client able to receive available tax credits while the employees receive the benefits of being a part of a much larger employee pool. To remain compliant, a CPEO maintains extensive records and provides the IRS with ongoing independent financial reporting. The complexity and strictness of the program are evident as there only being two CPEO’s in the state of Tennessee with Center Point being the only one in west Tennessee.
Elizabeth Pritchett, Director of Sales & Marketing states, "Center Point has always prided itself on ensuring we adhere to the highest ethical, financial and operational standards, which is why we knew we were a good candidate initially for the IRS PEO Certification. We are pleased that the IRS has again recognized our high standards and that we can offer CPEO services to our clients."
Center Point is a licensed PEO (Professional Employer Organization) that offers a variety of HR services including recruiting & hiring, training, payroll, and co-employment. For more information about Center Point, please visit www.cpbsllc.com.
*The IRS does not endorse any particular certified professional employer organization. For more information on certified professional employer organizations go to www.IRS.gov.