IRS_logo

IRS Joint Directive on the Work Opportunity Tax Credit per Internal Revenue Code Section 51 (IRC § 51)

A Joint Directive, released by the IRS this week, provides instructions to Large Businesses and International (LB&I) and Small Business and Self Employed (SB/SE) examiners on the treatment of Work Opportunity Tax Credit (WOTC) examinations under IRC § 51. Specifically, this Joint Directive is effective for all LB&I and SB/SE taxpayers claiming the WOTC in[…]

Share Button

IRS Issues Guidance on Empowerment Zone Extensions

The IRS has issued guidance on empowerment zone termination date extensions: Notice 2018-47 (PDF) explains how a state and local governments are deemed to extend the termination date designated in their empowerment zone nominations.  Under this notice, the termination dates are deemed extended until December 31, 2017.  The extension in this notice follows along similar[…]

Share Button
IRS_logo

IRS Extends Transition Relief for Work Opportunity Tax Credit

Excellent news for Work Opportunity Tax Credit customers. The IRS has issued a notice offering additional transition relief for employers claiming the Work Opportunity Tax Credit. Notice 2016-40 provides additional transition relief for employers claiming the WOTC under Sections 51 and 3111(e) of the Tax Code as extended and amended by the Protecting Americans from[…]

Share Button
IRS_logo

IRS Releases WOTC Transition Guidance

WOTC Transition & Retroactive Screening Back to January 1st. 2015 The IRS has released Notice 2016-22 to provide transition relief for employers claiming Work Opportunity Tax Credits under Section 51 and 3331 (e) of the Internal Revenue Service code. This new ruling will allow CMS and the employers we service to go back to 2015[…]

Share Button

IRS Gives Guidance On Veterans Tax Credit

The Internal Revenue Service has provided new guidance and forms that employers can use to claim the newly-expanded tax credit for hiring veterans. The VOW to Hire Heroes Act of 2011, as enacted on November 21, 2011, expands the Work Opportunity Tax Credit (“WOTC”) to businesses hiring eligible unemployed veterans. For the first time the[…]

Share Button