Posts Tagged ‘Work Opportunity Tax Credit (WOTC)’
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…
Read MoreEmployers Should Continue with the Work Opportunity Tax Credit Despite Hiatus
As the end of the year approaches, we may see the Work-Opportunity Tax Credit (WOTC) go into hiatus after December 31, 2019 because Congress may fail to extend the tax credit program. However, that doesn’t mean employers should stop their WOTC processes. History shows that the program will likely be reinstated by Congress sometime next…
Read MoreHiring People with Disabilities Can Make a Difference
July 26 was the 29th anniversary of the signing of the Americans with Disabilities Act (ADA), but even after all this time, employers are still having difficulty meeting the requirements of the law. For example, take the recently settled disability discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC) against multination retail giant…
Read More2018 WOTC Statistics Demonstrate Benefits to Employers
The U.S. Department of Labor (DOL) has issued statistics for 2018 that highlight how much employers can benefit from participating in the federal Work Opportunity Tax Credit (WOTC) program. According to the DOL, employers in 2018 obtained 2.2 million WOTC certifications. This represents billions of dollars in federal tax credits. Employers particularly benefited from hiring…
Read MoreLegislation Proposes Extending WOTC
Congress is considering bills that would again extend the Work Opportunity Tax Credit (WOTC) through December 31, 2020. The U.S. House of Representatives is considering bill H.R. 3301, which extends several expired or expiring tax breaks through 2020, including WOTC. U.S. Senate bill S. 978 and House bill H.R. 2213. also have been introduced in…
Read MoreFlorida Launches Revamped Online WOTC Portal
The launch of a revamped online platform by the state of Florida is making it easier for employers to obtain tax credits through the federal Work Opportunity Tax Credit. Employers can earn up to $9,600 per qualified hire through the Work Opportunity Tax Credit (WOTC) program. The revamped online platform posed a challenge for the…
Read MoreThis Trifecta of WOTC Services Will Increase Your Certifications
The Work Opportunity Tax Credit (WOTC) is a federal tax credit available to employers who hire individuals from specific target groups. Any business can earn tax credits by hiring individuals who fit one of the program’s target groups such as veterans, disabled persons and persons receiving government assistance. Employers can earn anywhere from $1,200 to…
Read MoreHire Vets Through WOTC
The HIRE Vets Medallion Program is an award from the U.S. Secretary of Labor that recognizes employer efforts to recruit, employ, and retain veterans. Employers can apply for the HIRE Vets Medallion Award as of January 31, 2019 and stand out for their employment practices. Additionally, employers can reap the benefits of tax incentives generated…
Read MoreImprove Your Bottom Line and Community with WOTC
The federal Work Opportunity Tax Credit (WOTC) program can generate your organization savings of up to $9,600 per qualified candidate, which can be a boost to the bottom lines of employers who are actively hiring. According to the U.S. Department of Labor, about $1 billion in tax credits are claimed through the WOTC program annually.…
Read MoreIRS 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…
Read MoreHonor Military Veterans By Hiring Them
Veteran’s Day is a time to take stock of how fortunate we are to live in a country with extensive freedoms, and how fortunate we are to have brave men and women who, generation after generation, step forward to willingly put their lives on the line to protect those freedoms for all of us. While…
Read MoreNevada’s WOTC Process Goes Electronic
Good news from the state of Nevada for employers anxious to hire and get paid for doing it. The state has taken the initiative to improve its process for handling the federal Work Opportunity Tax Credit (WOTC), which provides tax incentives for employers to hire from specific groups of individuals targeted by the federal program,…
Read MoreClaim More Tax Credits with WOTC Program
The Work Opportunity Tax Credit (WOTC) program has sometimes been viewed with a negative stigma. The reality is that candidates eligible for the WOTC certification are hired every day to work in most industries, ranging from restaurants to retail to banking. It’s also true that one in five of job candidates are eligible for WOTC…
Read MoreWOTC Capture Just Got Easier for Texas, Nevada, and Delaware
The Work-Opportunity Tax Credit (WOTC) is a credit that many employers should be capturing if they aren’t already doing so. Employers can receive credits for hiring and retaining candidates from specific target groups, such as convicted felons, veterans, and those on government assistance programs such as Supplemental Security Income (SSI). The process for obtaining WOTC…
Read More“Ban The Box” Makes Hiring Fairer for Job Applicants with Criminal Records, but More Complex For Businesses [Update]
Applying for a job can be an arduous task these days. It can be made more stressful for job applicants with criminal records. Research affirms that a conviction record reduces the likelihood of a job callback or offer by nearly 50%, according to the National Employment Law Project (NELP). It also can be stressful for…
Read MoreDOL Gives Businesses Second Opportunity For WOTC Job Tax Credits
The U.S. Department of Labor (DOL) has rethought its stance on Work Opportunity Tax Credit (WOTC) applications submitted in 2014 through 2016 that were rejected for WOTC certification by State Work Agencies (SWAs). The DOL, in Training and Employment Guidance Letter No. 07-17, said that the Social Security Administration (SSA) would be re-evaluating Target Group…
Read MoreUse Automated HR to Capitalize on WOTC Employment Tax Credits
The hiring and onboarding of an employee is often times a time-consuming process for both applicants and employers. Tax-credit screening, document collection, background checks, and employment verification, are all components that take up a lot of time, but they don’t have to with today’s technology. Moving to an automated HR process for onboarding will save…
Read MoreWOTC Survives Tax Reform Legislation
There were many changes to tax law in the recent tax reform legislation passed by Congress in December last year. One important program remained untouched, however, the Work Opportunity Tax Credit (WOTC), which will remain in place until at least the end of 2019. The WOTC is a voluntary federal tax credit administered by the…
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