Posts Tagged ‘IRS’

IRS Issues WOTC Directive on When to Apply a Certification

2 minute read: The IRS has issued a new directive that should make it easier for employers administering the Work Opportunity Tax Credit (WOTC) program to receive tax credits in the year employer certifications are issued. The issuance of WOTC certifications by State Workforce Agencies are often delayed and employers sometimes don’t receive them until…

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Start Using WOTC to Help Your Business

Start Using WOTC to Help Your Business

Over $1 billion in tax credits are claimed annually through the federal Work Opportunity Tax Credit program (WOTC). Through WOTC, run by the U.S. Department of Labor (DOL), federal tax credits of up to $9,600 per employee are available to employers for hiring individuals from target groups that consistently faced barriers to employment. Below are…

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IRS Issues WOTC Deadline Extension in Hurricanes Aftermath

IRS Issues WOTC Deadline Extension in Hurricanes Aftermath

This year’s hurricane season was a traumatic one, especially for those in the southern Atlantic region. Florida, Georgia, North Carolina, South Carolina, and Virginia were all hit with monster storms. In the aftermath of Hurricane Florence and Michael, the IRS has granted tax relief for Work Opportunity Tax Credit (WOTC) certification requests. For those affected…

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IRS Issues Extension to Receive Tax Credits for Empowerment Zones

IRS Issues Extension to Receive Tax Credits for Empowerment Zones

Employers with employees living in designated empowerment zones have another opportunity to apply for Work Opportunity Tax Credits (WOTC). The IRS recently announced that tax credits for WOTC Target Group D, which consists of individuals ages 18-39 who when hired are residents of an empowerment zone, has been extended. In Notice 2018-47, employers will now…

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New North Carolina Law Reminder to Avoid Worker Misclassification

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On December 31, 2017, the North Carolina Employee Fair Classification Act (EFCA) took effect. The new law allows for heightened investigations into those employers that are allegedly misclassifying their workers as independent contractors rather than as employees. The law allows workers to report potential job misclassification cases to a new division within the North Carolina…

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New Safe Harbor Rule May Clarify Worker Classifications

Proposed Safe Harbor Rule to Address the Classification of Workers by the IRS

The gig economy has become an important part of our economy. This has increased ambiguity amongst how workers are classified versus the scope of their work. In recognition of this situation, new legislation has been introduced in the U.S. Senate to amend the Internal Revenue Code of 1986 to provide a safe harbor for determinations…

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Can Your Unpaid Taxes Affect Your Business Travel?

It’s time to think FAST. The Fixing America’s Surface Transportation Act, that is. In March, the FACT Act came into effect, seeking to remedy the IRS’s situation with unpaid federal taxes, as well as interest and penalties. The FAST Act applies to those with taxes owed in excess of $50,000—otherwise known as “seriously delinquent taxpayers”—…

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Here Is Some New Light Shed On The PATH Act

In 2015, the Protecting Americans from Tax Hikes Act was passed, otherwise known as the PATH Act. The PATH Act was seemingly self-explanatory, as it aimed to guard Americans from enduring pricey tax hikes. However, there were many parts that left Americans confused, and like many bills passed in recent years it’s a work in…

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