IRS Encourages Employers to Take Advantage of the Work Opportunity Tax Credit

IRS Encourages Employers to Take Advantage of Work Opportunity Tax Credit

In a September 14th news release the Internal Revenue Service reminds employers to check out a valuable tax credit available to them for hiring long-term unemployment recipients and other groups of workers facing significant barriers to employment. The IRS is highlighting tax benefits and resources designed to help new and existing businesses. For any business[…]

WOTC 28 Day Rule Extended Due to COVID-19

WOTC 28-Day Filing Deadline Extended by the IRS

To help taxpayers, the Department of Treasury and the Internal Revenue Service announced on April 9th that Notice 2020-23 (PDF) extends additional key tax deadlines for individuals and businesses. Last month, the IRS announced that taxpayers have until July 15, 2020, to file and pay federal income taxes originally due on April 15. No late-filing penalty,[…]

CMS Brian Kelly, in Washington DC

IRS Urges Congress to Pass Extenders Act

Now the IRS is pressing Congress to step up and pass the Extenders Act The so-called “tax extenders” represent about 50 expired tax laws which expired at the end of 2013, including the Work Opportunity Tax Credits “WOTC” for businesses. IRS Commissioner John Koskinen admonished Senate Finance Committee chairman Ron Wyden (D-Ore.) and his commission[…]

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[…]