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Put More Government Money in Your Employees’ Pockets!

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Put More Government Money in Your Employees’ Pockets!

February 25, 2015

ANCOR continuously seeks ways to enhance the benefits of your membership, especially through the use of Preferred Vendors. These partnerships are exclusive agreements that are designed to help you save dollars and offer other benefits.

Through ANCOR Services Corporation’s existing partnership with the SEFCU Insurance Agency, we are pleased to offer a new program with National Enrollment Services (NES) that offers a unique value-added service in conjunction with SEFCU. This program — which provides the opportunity to secure increased monies for your lower-wage-earning employees and possibly for you – assists members and their employees take advantage of the IRS Earned Income Tax Credit laws and other voluntary benefit programs. We believe that this new extended partnership will be of substantial benefit to you and your staff.

Employee retention in our profession is a huge challenge and turnover is costly, and we recognize that you are continually exploring new ways to retain your valued employees. Accordingly, this new program will help put more Government money in your employees’ pockets. In addition, the federal government will REFUND any earned income credit not claimed by the employees on tax returns for the past three years. NES will assist your employees in determining whether they qualify for such a refund which could be as much as $1,000 per year.

Both non-profit and for-profit providers can take advantage of this new program, and all for-profit providers should take a close look at participating in it. Although they are entitled to tax credits for hiring entry-level employees, billions of dollars in tax credits go unclaimed each year. Indeed, the potential to reduce the amount of federal income taxes your agency pays is significant. This applies to small agencies as well as large. If 10 of your employees qualify during the year, your potential credit is $24,000. If 50 employees qualify, your potential credit is $120,000, and if 100 employees qualify, your potential credit is $240,000.

The timing of this Government Tax Credit Program could not be more crucial. With the Affordable Care Act in place, you may find yourself scrambling to find ways to alleviate the severe employee repercussions occurring as a result of this legislation. Providing these dollars from the Government goes a long way to help address these concerns.

More information about this incredible new program is forthcoming in an audio conference entitled, Government Tax Credits: Discovering “Found” Money for Employees, or contact Howard Labow at NES at (800) 966-6637 ext. 239 (email to hlabow@nesbenefits.com) or Michael Hutcherson at mhutcherson@sefcuinsuranceagency.com.

As always, thank you for your membership and for your continued support and confidence in ANCOR!