Nextep One of the First PEOs to Receive IRS CPEO Designation

Beth Dean 06.13.17
126 Pen On Paper

Nextep, Inc. is among the first PEOs in the nation to receive the IRS designation as a Certified Professional Employer Organization (CPEO).

 

Established by the IRS under the Small Business Efficiency Act (SBEA), the CPEO program gives PEOs the opportunity to voluntarily apply for certification. This recognition from the IRS is a milestone for the PEO industry and their clients.

To become and remain certified, PEOs must meet rigorous tax compliance, background, experience, business location, financial reporting, bonding and other requirements.

Nextep President and CEO, Brian Fayak, sees the IRS certification as a strong step forward in elevating and enriching the employment experience.

“This certification supports our focus by offering clients greater financial protection and IRS-recognized tax advantages that go even beyond our Employer Services Assurance Corporation (ESAC) certification.”
– Brian Fayak, Nextep President and CEO

There are numerous benefits of working with a CPEO. CPEOs are subject to bonding, audits, and quarterly tax reporting and take on sole liability for client taxes. Clients of CPEOs are may also eligible for federal employment tax credits.

A significant advantage of IRS certification is that it limits double taxation, eliminating the wage base restart provision clients may experience when switching or onboarding with PEOs.  

The IRS does not endorse any particular certified professional employer organization. For more information on certified professional employer organizations, please visit www.IRS.gov.

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