Business Tax Credits Included in Bipartisan Budget Act

Retroactive Extension for IEC and FEZ Employer Tax Credits Proposed The Bipartisan Budget Act of 2018 (H.R. 1892) was approved by Congress and signed by the President on Friday, February 9, 2018.  This is good news for many employers, as the signed budget deal maintains two long-standing federal employer tax credits, the Indian Employment Credit [Read More…]

Bill Proposed to Renew Employer Tax Credits

The IEC and FEZ Employer Tax Credits are up for Renewal At the end of 2017, Senator Orrin G. Hatch (UT-R) introduced a bill to continue to promote employment opportunities within the Tax Extender Act of 2017 (SB 2256).   In particular, there are two long-standing federal employer tax credits up for renewal that business should be [Read More…]

Tax Incentives Compliance – Redeeming and Maintaining Incentives

Congratulations! Your company just secured a lucrative negotiated incentives package. Your benefits might include tax credits for creating jobs, property tax abatements for new investment and grants for training employees. Your job is done, right? Sorry! The journey has just begun… The most important part of receiving a negotiated incentives benefits package is the incentive [Read More…]

If You Don’t Screen 100%, You Can’t Maximize Your WOTC

The foundation of a successful WOTC program is identifying ALL eligible employees to reach 100% screening completion, you need to set expectations and have a simple process that can be applied consistently for every new hire. Our employee tax advisers recommend our clients to: Make presentation of WOTC screening mandatory for all applicants, in every [Read More…]

Screening Smart Means Better WOTC Results

If you manage WOTC, you know that screening for eligibility on all new hires is the foundation of a successful program. But having new hires complete the screening accurately and correctly to “screen eligible” or not is often not so simple. This can be compounded when you are screening new employees in multiple locations, when [Read More…]

Retailer Identifies More than $1 Million in Hurricane Relief Tax Credits

Employers with locations that were impacted by Hurricanes Harvey, Irma, and Maria may be eligible for a relief tax credit as part of the Disaster Tax Relief and Airport and Airway Extension Act of 2017. If your organization has locations inside the disaster zones that were inoperable, but you continued to pay your employees, you [Read More…]

A Top 25 Bank Increases WOTC Results by More than 50%

A top 25 bank that switched to the Equifax Workforce Solutions WOTC Management technology has seen more than a 50% improvement in their WOTC results in less than a year. Small tweaks to the bank’s WOTC process improved screening completion and eligibility identification to drive a significant increase to their overall WOTC program performance. Client [Read More…]

Lift the Burden of WOTC Docs and Get a Lift in Your Credits

There are three key elements of a successful WOTC program: ‘screening all’, ‘screening smart’, and timely collection of required documentation. With 9 different WOTC eligibility categories, sorting through documentation requirements to determine what is needed and how to best collect that documentation can be challenging. In addition, we’ve found that employers often face other barriers [Read More…]

NEW Hurricane Relief Law with Tax Credit for Employers

On September 29, 2017, President Trump signed into law the Disaster Tax Relief and Airport and Airway Extension Act of 2017 to deliver targeted tax relief to victims of Hurricanes Harvey, Irma, and Maria. The law includes an employee retention tax credit for employers. Qualifying businesses with locations within the disaster zones can seek a [Read More…]

Do You WOTC? Target Groups for the WOTC Opportunity Tax Credit

According to the United States Department of Labor, employers generally can earn a tax credit equal to 25% or 40% of a new Work Opportunity Tax Credit (WTOC) eligible employee. Does your organization take advantage of this opportunity?  WOTC was enacted by the federal government to promote the hiring of certain targeted demographic groups that [Read More…]