By this time most everyone knows that The IRS recently announced Notice 2015-13, which will provide some much needed relief for employers seeking WOTC credits from 2014. As we’ve mentioned before, this is a nearly unprecedented move by the IRS. Since the inception of WOTC in 1996, this is only the second time such an extension…
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The WOTC program includes many target groups. Among these are SNAP (Supplemental Nutrition Assistance Program) recipients, or persons receiving food stamps. It’s highly likely that you may have hired a SNAP recipient or member of a qualified household. According to USDA statistics, in fiscal year 2014, SNAP recipients represented over $10 billion in available tax…
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The WOTC program experienced some unique challenges in 2014 stemming from the late December renewal. Although the renewal was retroactive, it created a hardship for employers seeking to take advantage of these lucrative tax credits. The IRS recently announced Notice 2015-13, which will provide some much needed relief for employers seeking WOTC credits from 2014.…
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There are two proposed modifications to WOTC that could be invaluable for employers across the country. The first proposal is to add Long Term Unemployed as a target group, and the second is to make WOTC a permanent establishment rather than requiring annual renewal. Senior NJ Democrat Bill Pascrell and NY Republican Tom Reed have…
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It’s no secret the military veterans are prized employees, but have you thought about just how valuable they can be? 1. They have some of the best training in the world. Their job calls for operating all sorts of equipment and cutting-edge technology sometimes on a moment’s notice. With this practice, they have adaptability to quickly learn new…
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As most of you are probably already aware, the WOTC program was in hiatus from January until mid-December 2014. Therefore, the WOTC certifications are backlogged and many states are anticipating delays past April 15th. Some areas could see backlogs as late as August. Given the circumstances, most of you will have a couple options to…
Read articleAs you may be aware, there are several tax programs awaiting congressional renewal. It isn’t uncommon for tax credit programs to lapse, particularly the Work Opportunity Tax Credit. However, currently, the IRS and lobbyists are urging lawmakers to vote on tax bills by the end of November to expedite the process. In the meantime, we…
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