With tax deadlines looming, we thought it best to revisit the specifics of WOTC for 2014 and what implications that has on your corporate taxes. A quick reminder that for 2014 you can file for WOTC tax credits by April 30, 2014. With this unique extension, states are backlogged and may require extra time to…
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By this time most everyone knows that The IRS recently announced Notice 2015-13, which will provide some much needed relief for employers seeking WOTC credits from 2014. As we’ve mentioned before, this is a nearly unprecedented move by the IRS. Since the inception of WOTC in 1996, this is only the second time such an extension…
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The WOTC program experienced some unique challenges in 2014 stemming from the late December renewal. Although the renewal was retroactive, it created a hardship for employers seeking to take advantage of these lucrative tax credits. The IRS recently announced Notice 2015-13, which will provide some much needed relief for employers seeking WOTC credits from 2014.…
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There are two proposed modifications to WOTC that could be invaluable for employers across the country. The first proposal is to add Long Term Unemployed as a target group, and the second is to make WOTC a permanent establishment rather than requiring annual renewal. Senior NJ Democrat Bill Pascrell and NY Republican Tom Reed have…
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