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Group Management Services Named a Certified Professional Employer Organization by IRS

Press Release from Group Management Inc

RICHFIELD, Ohio, Dec. 5, 2017 /PRNewswire-iReach/ -- Group Management Services announced today that they have been named a Certified Professional Employer Organization by the United States Internal Revenue Service.

The designation was created as a provision of the Small Business Efficiency Act in 2014. This makes the CPEO solely responsible for payroll taxes and penalties and assures clients that they are partnering with a financially responsible and stable organization.

Learn what a PEO is here: https://www.groupmgmt.com/why-gms/education-center/what-is-a-peo/

"We've completed this rigorous certification process with in depth financial reviews and audits of our business processes as well a thorough background check of our upper management," said Mike Kahoe, President of GMS. "This shows our customers and prospects that the IRS is holding us to a certain standard, which helps legitimize our growing industry."

Of the estimated 300 PEOs in the U.S., GMS is one of only 37 to be named as a CPEO. To be approved for CPEO status, GMS was required to…

  • Qualify for a $1,000,000 surety bond
  • Go through quarterly audits of payroll taxes paid
  • Demonstrate positive working capital
  • Complete financial audits of the company
  • Pass background checks of the company and its officers
  • Demonstrate an acceptable level of experience as a professional employer organization

GMS has experienced significant growth in recent years, working with small businesses to help manage the administrative functions of payroll, human resources, risk management, and employee benefits. The designation will add to the credibility of a growing industry, which has helped small business grow and thrive in recent years.

Note: "The IRS does not endorse any particular certified professional employer organization. For more information on certified professional employer organizations go towww.IRS.gov"

Group Management Services is a Professional Employer Organization that helps over 1,200 clients make their business simpler, safer, and stronger through expert HR management. To learn more about the services we offer, visit https://www.groupmgmt.com/.

Media Contact:Matthew Schoolcraft, Group Management Services, 330-807-4067, mschoolcraft@groupmgmt.com

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SOURCE Group Management Services

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