Partnership to Streamline Processing of Business Incentives and Recovery Programs
Nashua, New Hampshire – May 17, 2022
ACA reporting and compliance leader SyncStream Solutions, LLC, announced today its strategic partnership with AkkenCloud, the Front Office, Middle Office, Back Office, and Payroll platform provider that helps staffing and recruiting organizations revolutionize their efficiencies.
The partnership will allow AkkenCloud clients to take advantage of business incentives and recovery programs through SyncStream’s integrated tax credit solution powered by their new parent company, OnCentive.
“We are excited to partner with AkkenCloud to make tax credits and incentives accessible to their clients,” said Shannon Scott, OnCentive & SyncStream CEO. “Often businesses that benefit most from these government programs are the largest corporations which need it the least. We are passionate about putting money back in the hands of businesses like AkkenCloud’s clients.”
Click HERE to watch the Employee Retention Credit (ERC) Webinar.
“With the experience of mitigating over $500 Million in ACA Penalties, SyncStream’s certified ACA experts will guide our customers through complex compliance obligations,” said Giridhar Akkineni, CEO of AkkenCloud.
One of the recovery programs businesses are receiving hundreds of thousands to millions of dollars is the Employee Retention Credit (ERC), originally established by the CARES Act to assist businesses impacted by the COVID-19 pandemic. Since its enactment, the ERC has been extended and expanded through subsequent legislation and provides employers with a refundable tax credit of up to $26,000 per employee for 2020 & 2021.
Businesses may qualify if they experienced a downturn in revenue or interruptions to their operations due to a government order. Even if an organization experienced revenue growth, took PPP loan(s), or had staff at an essential business, they may still be eligible to receive the ERC.
“With over 7.5 Million Employees tracked and Reported, this integration with SyncStream’s proven ACA Tracking and Reporting platform, our customers can now eliminate mundane manual work and focus on their business,” said Giridhar Akkineni, CEO of AkkenCloud. “With the experience of mitigating over $500 Million in ACA Penalties, SyncStream’s certified ACA experts will guide our customers through complex compliance obligations.”
Click HERE to watch the ACA Tracking and Reporting Webinar.
AkkenCloud offers the most comprehensive front-office, middle-office, and back-office staffing software with AkkuPay payroll for staffing agencies and recruiting agencies looking to increase efficiency, streamline operations, and grow revenue. Click HERE to schedule a Live Demo.
SyncStream’s tracking solution monitors the ACA status of part-time and seasonal employees in real-time to determine if the business qualifies for applicable large employer status, and which employees qualify for employee-sponsored coverage. The company has successfully fulfilled over 6 million employee forms and served more than 16,000 customers with a 96% customer retention for both federal and state filings.
OnCentive is a consulting firm that helps businesses maximize government incentives and tax credits to increase their profitability. Leveraging their leaderships’ 100 years of combined credit expertise and their state-of-the-art custom technology, OnCentive captured $1.5 billion in government incentives for clients, with $0 returned to the IRS. OnCentive’s team of credit experts helps businesses affected by the COVID-19 pandemic to qualify and capture millions in Employee Retention Credits, as well as other federal and state incentive credits like the Work Opportunity Tax Credit, Research and Development Tax Credit, Disaster Employee Retention Credit, and many others.