Case Study: Fortune 500 Financial Services Institution achieves $2.4M employment tax recovery and ongoing tax cost savings with Equifax Employment Tax Services

Fortune 500 Financial Services Institution - Customer Case Study

Equifax Workforce Solutions assisted a Fortune 500 financial services institution that acquired a credit card business unit operating as three separate legal entities with 3,000 employees. The client faced state unemployment insurance (SUI) tax compliance requirements, could not restart annual taxable wage bases, and lacked year-to-date wage data following the transaction.

Equifax’s Employment Tax Services—covering unemployment cost management, merger & acquisition planning, and employment tax consulting—resolved statutory compliance issues, identified tax-cost minimization opportunities, and recovered $2.4M in employment taxes. Equifax now recommends an average $1.30M in annual employment tax savings through voluntary contributions, joint accounts, state-specific rating strategies, and M&A-related recoveries.