The Advantage of Going Paperless with Your Work Opportunity Tax Credit Screening

The Advantage of Going Paperless with Your Work Opportunity Tax Credit Screening

CMS has been providing Work Opportunity Tax Credit screening services for over 20 years. We have helped save employers millions of dollars that can be reinvested back into their businesses. We currently offer three ways you can screen your employees: Paper Call center Online We highly encourage customers to take advantage of the secure online[…]

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WOTC Expiration and Renewal 2020

A Word on WOTC’s Renewal

As you may be aware, the Work Opportunity Tax Credit is scheduled to expire on 12/31/2020. The Law360 Tax Authority blog has recently reported that the renewal Of Tax Extenders (WOTC is part of this package) may have to wait until next year due to the ongoing focus on the Coronavirus pandemic. A potential expiration[…]

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Grants Issued to Assist States With WOTC Backlogs

U.S. Department Of Labor Awards Grants to 12 States with WOTC Backlogs

The U.S. Department of Labor has announced the award of approximately $2,500,000 million in grants through the Work Opportunity Tax Credit (WOTC) that incentivizes workplace diversity and facilitates access to good jobs for American workers. The grants will help state workforce agencies streamline their business processes and systems to reduce the processing backlog, including the[…]

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CMS Named ComForCares Vendor of Choice

CMS Named ComForCare’s Vendor of Choice

Cost Management Services, LLC has been named ComForCare’s Vendor of Choice for Work Opportunity Tax Credit screening. FARMINGTON, CT – 8/11/2020 – Cost Management Services, LLC, a  provider of Work Opportunity Tax Credit (WOTC) screening for over 20 years, will help ComForCare’s franchisees capture and take advantage of tax credits as they hire and grow[…]

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Work Opportunity Tax Credit Provision in the HEALS Act

Expanded Work Opportunity Tax Credit Provision in the HEALS Act

On July 27 Senate Republicans announced the Health, Economic Assistance, Liability Protection and Schools (HEALS) Act as their opening bid for “Phase 4” economic relief ahead of negotiations with Senate and House Democrats. Phase 4 relief is the anticipated follow-up legislation to the $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act that was enacted[…]

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SourceCast Selects CMS as it's Work Opportunity Tax Credit Provider

SourceCast Selects CMS as its Work Opportunity Tax Credit Provider

Cost Management Services (CMS) is excited to announce that we have partnered with SourceCast, Inc. to help their customers capture and take advantage of the Work Opportunity Tax Credit. SourceCast is a leading provider of diversity sourcing for employers, talent sources and job seekers nationwide. Across the country, HR professionals recognize the need to accelerate[…]

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WOTC NEWS

CMS WOTC Newsletter June 2020

CMS WOTC Newsletter June 2020 In this issue: CMS Adds Increased Integration for WOTC Tax Credit to iRecruit, Applicant Tracking Software Work Opportunity Tax Credit By The Numbers 2019 EEOC Issues Formal Opinion on the Work Opportunity Tax Credit Understanding WOTC’s Target Groups: Designated Community Resident Work Opportunity Tax Credit Statistics for Illinois WOTC Questions:[…]

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WOTC Statistics 2019

Work Opportunity Tax Credit By The Numbers 2019

In 2019 there were 2,066,616 total Work Opportunity Tax Credits issued in the United States. CMS estimates the total value of these credits is $4.9 Billion. The number of credits issued in 2019 is down 6.3% from 2018 (see 2018 WOTC Statistics). Which states issued the most WOTC credits in 2019? Texas 166,768 (8.06% of total)[…]

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EEOC Issues Formal Opinion on the Work Opportunity Tax Credit

EEOC Issues Formal Opinion on the Work Opportunity Tax Credit

The U.S. Equal Employment Opportunity Commission has released its first official opinion letter dated April 29, 2020, on the Federal Work Opportunity Tax Credit Form 8850. The letter confirms that employers can legally utilize the Work Opportunity Tax Credit without violating federal anti-discrimination laws. The letter is a written interpretation or opinion of the Commission,[…]

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