Bulletin: Deadline to Use New WOTC Forms is Here

Situation As we previously reported, the United States Department of Labor (DOL) set an end date of April 11, 2017 for the grace period for using previous versions of certain Work Opportunity Tax Credit (WOTC) forms. In early March, the DOL released an updated version of the following two forms: ETA Form 9061 Individuation Characteristics [Read More…]

Bulletin: TCI – US Department of Labor Issues Updated Guidance on WOTC

Department of Labor Issues Updated Guidance on WOTC Situation In January, the United States Department of Labor released an update to Training and Employment Guidance Letter (TEGL) No. 25-15, with revised guidance on the Work Opportunity Tax Credit (WOTC). The main change was extending the grace period for using the previous versions of the Employment [Read More…]

Webinar | Getting the Most out of WOTC: 3 Employers Speak

Date: Wednesday, Nov. 30, 2016  Time: 3:00 PM ET, 2:00 PM CT, 1:00 PM MT, 12:00 PM PT Fee:  Free Join us to hear three employers discuss their WOTC programs and share best practices for taking full advantage of this valuable credit. Three HR/payroll/Tax pros will talk about how they manage their Work Opportunity Tax [Read More…]

Bulletin – TCI: Federal Tax Credits Set to Expire

CALL FOR ACTION: Federal Tax Credits set to expire Situation The Federal Empowerment Zone Tax Credit (EZ) and the Federal Indian Employment Credit (IEC) are set to expire December 31, 2016. These extremely popular federal tax credits encourage investment, improve employment opportunities, and stimulate growth in distressed communities. These credits have faced elimination before, but [Read More…]

Retro WOTC Ends – Program Out of Hiatus Through 2019

Situation As part of the Protecting Americans From Tax Hikes Act of 2015 signed into law last December, the Work Opportunity Tax Credit (WOTC) Program was extended through December 31, 2019 and retroactively for employees hired from January 1, 2015. The WOTC program will be now be in a steady-state, with no hiatus planned, through [Read More…]

New Research Shows WOTC-Eligible Employees More Likely to Stay on the Job

Dual value of WOTC: reduce turnover while increasing income  |  press release Equifax has published a press release and new whitepaper highlighting the additional benefits of the Work Opportunity Tax Credit (WOTC) program. “Most employers are familiar with the WOTC program and the value it delivers by way of reduced tax liabilities to offset the [Read More…]

Bulletin: TCI – Tennessee Job and Community Resurgence Tax Credits

Situation As a move to fight poverty throughout the state, the Tennessee legislators have expanded the traditional Tennessee Job Tax Credit program by creating the Community Resurgence Job Tax Credit.  This expanded program which was approved in 2015, is available to all Tennessee businesses. Solution The State of Tennessee offers two Job Tax Credits to [Read More…]

Article: What You Need to Know About WOTC Retro Guidance and Extension

Since first implemented, the Work Opportunity Tax Credit program, or WOTC, has helped countless companies to benefit from significant tax incentives when they hire individuals from groups that typically face barriers to finding employment. The result is that companies that hire WOTC-eligible employees can earn an income tax credit of up to $2,400 per hire [Read More…]

Webinar: Retro WOTC Extended Again – Understanding the Federal Guidance

Webinar recording   |   Retro WOTC Extended Three Additional Months: Understanding the Federal Guidance The IRS has extended the previous retro WOTC “transition relief” period for all WOTC categories to August 31, 2016. Download the webinar to hear well-known Washington lobbyist and attorney Evan Migdail discuss the federal guidance employers must follow to take advantage [Read More…]

Bulletin: WOTC Transition Relief Period Extended

Situation Following a hiatus in 2015, the Work Opportunity Tax Credit (WOTC) program was extended retroactively for hires from January 1, 2015 through December 31, 2019. Earlier this year, the IRS issued Notice 2016-22 providing for “transition relief” for employers to file WOTC form 8850 for any hires from January 1, 2015 through May 31, 2016.  The [Read More…]