Universal Business Computing Company (UBCC), a provider of high-volume, high-productivity payroll and accounting software, announces the release of the 5884-B HIRE Retention General Business Credit tax form. UBCC is first to be in compliance with this highly complex payroll legislation.
"UBCC Payroll Software automatically calculates and prints both the tax form and a worksheet for the highly complex HIRE Retention Credit that results in the business getting a general tax credit on [its] returns," said Ken Garen, CPA, president and cofounder of UBCC. "Two years ago, we were the first payroll software to be in compliance when the first half of the HIRE Act was passed, and we are very proud to be first to market with this form," continued Garen. "Literally, all our clients need to do on this is to ask for the form to be printed."
The first part of the HIRE Act started March 18, 2010, which gave businesses a 6.2 percent FICA tax reduction for hiring workers previously unemployed or working part-time. "To stay ahead of all other payroll software providers on this initiative was challenging; the calculations are incredibly complex," said Garen. "I am proud to say this is in line with UBCC's corporate culture and our long-standing commitment to continue to rapidly evolve well ahead of all others – our software platform has the power and flexibility that makes it impossible for others to keep up."