Webinar: DOL Guidance on Retro WOTC Screening…and New Category
Evan Migdail of DLA Piper will be joining me for a webinar about the IRS “retro WOTC” guidance. He’ll also talk about the new WOTC category for the long-term unemployed. I’ll add some thoughts about best practices for employers to gain the maximum benefit from this opportunity.
WOTC — Work Opportunity Tax Credit in full — is a major tax savings program for employers who hire individuals who have traditionally faced a barrier to finding employment opportunities. Most of our clients find that one out of every three new hires is eligible for this program and the tax savings can be as high as $2,400 per eligible employee. Some categories reach as high as $9,600 in tax savings!
Evan, a DLA Piper partner and well known in Washington for his work as a champion for employers, will talk about how the guidance addresses the processing of 2015 requests for certification. He’ll also discuss the opportunity to complete screenings for employees hired in 2015 and part of 2016 who may not have screened in a timely manner. We’ll cover the expected screening form for the newly added long term unemployed category and give some general guidelines new employees must meet to be qualified for this category.
The long-awaited extension of the WOTC was welcome news for employers. It was also heartening to find that, as with recent WOTC renewals following a hiatus, employers will be able to go back in time and screen new hires who came on board during the hiatus.
But that still leaves challenges for employers, particularly if they may not have kept up with their screening of new hires during the long hiatus. This hiatus lasted nearly a full year, from January 1 until December 18, 2015, when President Obama signed the Protecting Americans From Tax Hikes Act of 2015. We’ll help you understand how to obtain this lucrative tax credit for employees who may not have completed the screening questions in 2015.
Evan will also bring you up to speed on prospects for the extension this year of the empowerment zone and Indian Employment credits that will otherwise expire on December 31.
Hope to see you there!
“Understanding DOL guidance on retro WOTC screening, and the new WOTC category”
Date: Friday, 18, 2016
Time: 2:00 PM ET (1:00 PM CT)
Duration: 1 hour
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