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[…]

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WOTC Wednesday FAQ Brian Kelly

WOTC Wednesday: On What Tax Form is the WOTC Tax Credit Taken?

CMS’s Brian Kelly answers your questions about the Work Opportunity Tax Credit. Today’s WOTC Wednesday question:  On What Tax Form is the WOTC Tax Credit Taken? CMS Responds: One of the great questions that we get is “What Tax Form is the WOTC Tax Credit Taken?” It’s going to be on the IRS 5584 form[…]

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WOTC Wednesday FAQ Brian Kelly

WOTC Wednesday: What is the Start Date for WOTC?

CMS’s Brian Kelly answers your questions about the Work Opportunity Tax Credit. Today’s WOTC Wednesday question:  What is the Start Date for WOTC? CMS Responds: What is considered start date? Well it’s pretty straightforward, it’s actually the day they (the new employee) started work. Not the day they were interviewed, not the date you offered[…]

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WOTC Wednesday FAQ Brian Kelly

WOTC Wednesday: What is the WOTC Tax Credit Amount for a Long Term Unemployment Recipient?

CMS’s Brian Kelly answers your questions about the Work Opportunity Tax Credit. Today’s WOTC Wednesday question:  What is the WOTC Tax Credit Amount for a Long Term Unemployment Recipient? CMS Responds: So first of all, under long term unemployment recipients – they have to be unemployed for over 26 weeks, and the amount will be[…]

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WOTC Wednesday FAQ Brian Kelly

WOTC Wednesday: How Long Must an Eligible Employee Work to Claim WOTC?

CMS’s Brian Kelly answers your questions about the Work Opportunity Tax Credit. Today’s WOTC Wednesday question:  How Long Must an Eligible Employee Work to Claim WOTC? CMS Responds: How long must an eligible employee work before a company can claim a WOTC tax credit? Pretty straightforward, it follows the WOTC guidelines of, first of all[…]

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WOTC Wednesday FAQ Brian Kelly

WOTC Wednesday: Does Your Software Program Allow for Checking WOTC Application Status?

CMS’s Brian Kelly answers your questions about the Work Opportunity Tax Credit. Today’s WOTC Wednesday question:  Does Your Software Program Allow for Checking WOTC Application Status? CMS Responds: Does Your Software Program Allow for Checking WOTC Application Status? Absolutely, so with CMS’s services you’re going to get an administration portal so you can see how[…]

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WOTC Wednesday FAQ Brian Kelly

WOTC Wednesday: Are We Eligible for Employees Who Receive SNAP Benefits While Working?

CMS’s Brian Kelly answers your questions about the Work Opportunity Tax Credit. Today’s WOTC Wednesday question:  Are We Eligible for Employees Who Receive SNAP Benefits While Working? CMS Responds: Are We (WOTC) Eligible for Employees Who Receive SNAP Benefits While Working or only if they go off? The answer is actually both, you can get[…]

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IRS Issues Transition Relief for Two WOTC Target Groups

Work Opportunity Tax Credit (WOTC) Transition Relief under Internal Revenue Code § 51

The IRS issued guidance this week providing additional transition relief to employers participating in the work opportunity tax credit program. Notice 2021-43 (PDF) provides transition relief for employers that hire or hired certain individuals residing in empowerment zones and who begin work on or after January 1, 2021, and before the date that is 60 days from the[…]

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WOTC Wednesday FAQ Brian Kelly

WOTC Wednesday: When Is The Best Time To Give the WOTC Survey To The Applicant?

CMS’s Brian Kelly answers your questions about the Work Opportunity Tax Credit. Today’s WOTC Wednesday question:  When Is The Best Time To Give the WOTC Survey To The Applicant? CMS Responds: One of the questions we get is “When Is The Best Time To Give the WOTC Survey To The Applicant?” Actually, when they are[…]

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WOTC Wednesday FAQ Brian Kelly

WOTC Wednesday: Is it Worth it to do the Work Opportunity Tax Credit?

CMS’s Brian Kelly answers your questions about the Work Opportunity Tax Credit. Today’s WOTC Wednesday question:  Is it Worth it to do the Work Opportunity Tax Credit? CMS Responds: Is it Worth it for Employers to do the Work Opportunity Tax Credits? I look at it as absolutely! We know statistically over the last 20[…]

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