The National Restaurant Association (NRA) is not alone when they wonder “Will Congress let a key tax credit die?” Speculation has been increasing over the past few weeks about the EXPIRE act, which includes WOTC legislation. Bipartisan legislation introduced last month by Reps. Charles Rangel (D-N.Y.) and Aaron Schock (R-Ill.) would renew the WOTC and make it permanent.
WOTC expired at the end of December 2013, and efforts to renew it have stalled this year. Our thoughts on #WOTC, the waiting is the hardest part, but we do expect Congress to renew #WOTC by the end of 2014, through 2015 and be retroactive throughout 2014. That means if you are not regularly doing your WOTC paperwork, or online forms through our new hire portal, you could miss out on potential tax credits for this year.
Reminder to CMS’s customers using the Work Opportunity Tax Credit Administration service.
Call Now To Sign Up and Save
CMS has helped companies save money on new hires by maximizing tax credits available through the Work Opportunity Tax Credit since 1997. There’s never been a better time to start saving. Call today to speak to a tax credit expert 1-800-517-9099.