This article provides a roundup of recent news stories related to the Work Opportunity Tax Credit.
- IRS Update Clarifies Prescreening Process of New Hires for Work Opportunity Tax Credit (Read @ SHRM)
Updated online information from the IRS on prescreening job applicants is intended to help determine if hiring them would enable an employer to receive the federal Work Opportunity Tax Credit (WOTC), which is available to employers that hire designated categories of workers who face significant barriers to employment.
- Long debated tax credit to support hiring of military spouses may finally pass (Read @ Stars and Stripes)
(Tribune News Service) — After being debated in Congress in one form or another since 2005, supporters say passage of the Military Spouse Hiring Act may happen this year, giving employers a new incentive to hire the spouses of active-duty service members, who face a higher jobless rate than the general population.
- How Employers Can Set Formerly Incarcerated Workers Up for Success (Read @ Harvard Business Review)
In a recent survey, a majority of U.S. respondents say they would be proud to work for an employer or patronize a business that hires people with criminal records. And more and more businesses are joining the effort.
- Help wanted? Businesses that are hiring should know about the work opportunity tax credit (Read @ IRS)
Businesses hanging up their Help Wanted signs should be sure to check out the work opportunity tax credit. This credit encourages employers to hire workers certified as members of any of ten targeted groups facing barriers to employment. The credit has been extended through the end of 2025.
- Reminder, the Work Opportunity Tax Credit was renewed for five years, and is currently active through 12/31/2025.
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