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In Touch
April 2010  
In This Issue
W11 Update
Social Recruiting
COATS Headquarters is Moving
An Employer tax credit that's applicable to the Staffing Industry? Finally! Read below about The HIRE Act and W11 form and how it applies to your firm.
 
Newspaper ads are going by the wayside. Where do you advertise? Advertising online can be crazy costly. Where, how much, how often? Join us for a free Webinar where we discuss cutting costs with Social Media.
 
Make a note - we are moving! See our new address below.
 
Thanks always for your partnership and feedback. 
 
All my best,  
 
Karen
W11 - Updated information on The HIRE Act
                            
What is The HIRE Act?
The HIRE ACT is a special payroll tax exemption that applies to many newly-hired workers during 2010. It was created by the Hiring Incentives to Restore Employment (HIRE) Act signed by President Obama on March 18.

What is the W11?
The W11 is the government form the Employee will fill out in order to certify they are eligible for the special payroll tax exemption. Click here to see the W11 Form.
 
What is the benefit?
Employers who hire unemployed workers this year (after Feb. 3, 2010, and before Jan. 1, 2011) may qualify for a 6.2-percent payroll tax incentive.  This will exempt the Employer from the employer's share of social security tax on wages paid to these workers after March 18. In addition, for each unemployed worker retained for at least a year, businesses may claim a new hire retention credit of up to $1,000 per worker when they file their 2011 income tax returns. 

When will the credit be applied?
When processing the 941 Tax Payment the user can run the Hire Act Discount report to apply the credit transactions to the Federal AP account to take the credit after each payroll or when filling the 941 at the end of the second Quarter 2010 the employer may take the credit for the entire quarter  4/1/10-6/30/10 and also for 3/19-3/31. This credit received can be applied to the next return or the user may ask for a refund check.
 
What has COATS done to be compliant?
  • COATS has modified the Tax screen under the Employee's Master Record. If the employee is eligible the user will check the W11 box and when hired enter the qualified date.
  • When searching qualified, but not yet hired employees for a position, the Employee's Global Status will appear aqua indicating they are W11 Eligible. (This feature can be shut off if desired.)
  • The user will process The Hire Act report prior to running the 941 to calculate the credit.
  • The COATSsql embedded 941 has been modified to include the new changes.
When will the update to COATS Standard and COATSsql be released?
The .exe will be posted on the Customers Only site. A client user name and password (given by COATS) is required. An email will be sent to alert all clients of the posting. We are hoping to release the update within the month of May and definitely before the end of 2nd Quarter. Watch for more emails from COATS!
 
Additional points:
  • Employers must elect to claim, per eligible individual, either the Hire Act Payroll Tax Exemption or the Work Opportunity Tax Credit (WOTC) on wages paid to qualifying individuals.
  • As of 4/21/10 there is only a Draft 941 - not a final version. Click here to see the Draft 941.
  • There is a retention credit of up to $1,000 for qualified workers who work at least 52 weeks. Stipulations are 1)employees who are eligible for the payroll tax exemption 2)for employees who work 52 weeks 3)the employee wages for the last 6 months must be at least 80$ of the wages he/she earned in the prior 6 months.
  • There was a question about using Form W-11 - when the candidate interviews or when the worker is placed on an assignment. ASA suggests that when the employee is interviewed and is on the firms roster of candidates. It is similar to the I-9 - it is difficult to have someone come back into the office to complete the I-9 so the majority of staffing companies have the candidate complete the I-9 at the time of application/interview.
  • It has been suggested to keep the W-11 Form separate from the I-9 for auditing purposes.
  • There are no specific number of hours required for the Employee to work to qualify for the 6.2%
 
Haley Marketing  
Social Recruiting:  Using COATS and social media to find great talent for less.
 
 
 
Join us for a free Webinar on May 18
 

Space is limited.  Click here to reserve your Webinar seat now.  

 

You're on LinkedIn. And Facebook. Maybe you even Tweet. But are you really leveraging the power of social media?

 

In this idea packed webinar, you'll learn some of the most effective ways staffing companies are using social media for recruiting. And you will see how COATS can play a critical role in helping you fill job orders faster, with better talent, and for FAR less cost!

 

You Will Learn:

 

· Ways to use LinkedIn, Facebook and Twitter to source passive candidates.

 

· How to take advantage of job aggregators to fill orders faster.

 

· How COATS can automate the distribution of your job posts--so you can spend less on job postings and classified ads. 

 

Title:  Social Recruiting - Using COATS and social media

              

Date:  Tuesday, May 18, 2010

                         

Time: 12:00 PM - 1:00 PM EDT

 

After registering you will receive a confirmation email containing information about joining the Webinar.

 

System Requirements

PC-based attendees

Required: Windows® 7, Vista, XP, 2003 Server or 2000

 

Macintosh®-based attendees

Required: Mac OS® X 10.4.11 (Tiger®) or newer

Moving Truck 
 

          COATS HEADQUARTERS IS MOVING!

 

PLEASE SUBMIT PAYMENTS TO OUR NEW ADDRESS

EFFECTIVE APRIL 30, 2010

 

COATS

303 LYNNHAVEN PARKWAY

SUITE 200

VIRGINIA BEACH, VA 23452

 Miss a Newsletter?

COATS has been sending an emailed Newsletter since August of 2008. If you missed one of our monthly newsletters, click below to see what you missed!
 
 
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Events
 
COATSsql Version 3.3.0
was released March 19th,  2009.
 
COATS Standard Version 8.4.0 has been released. 
 
The latest update is only required for Online Applicant Clients.
 
 Click here to view
What's New.
 
You will need your Customer Only User Name and Password to access the above sites. 
 
 
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Contact Information
 
Please feel free to contact us regarding any questions, thoughts, or feedback.  COATS growth has come from client feedback and discussion. We welcome and appreciate your contact!
 
Karen Connor
VP Sales & Marketing
800-888-5894