AccessPoint today announced that it has been designated as a Certified Professional Employer Organization (CPEO) by the Internal Revenue Service.
CPEOs must meet a higher standard of requirements such as tax status, background, experience, business location, financial reporting, bonding and other requirements described in the statute and regulations. These specifications fall under the Stephen Beck, Jr. Achieving a Better Life Experience (ABLE) Act (Public Law 113-295), which requires the IRS to establish a voluntary certification program for professional employer organizations.
“CPEO status is a new milestone for AccessPoint and the industry,” said AccessPoint CEO, Greg Packer. “It is pretty special to earn an IRS seal of approval on how we run our business. I believe we are the only Michigan-based ‘Certified PEO’ and feel this will be a significant differentiator for us in the marketplace. It really is the new ‘Gold Standard’ for our industry and I couldn’t be more proud of our team.”
The IRS has officially released the formal approval certification to the company, but the designation is effective as of January 1, 2017. With this acknowledgement, AccessPoint current and future clients are assured that they are working with a reputable partner, recognized by the IRS as the “sole responsible party” for federal obligations.
A list of CPEOs nationwide will be published later this year and will be maintained by the IRS moving forward. The IRS will also publish a list of those PEOs whose certification has been revoked or suspended.
If you are interested in learning more about our CPEO certification then get in touch with a consultant here.