CMS’s Brian Kelly answers your questions about the Work Opportunity Tax Credit.
Today’s WOTC Wednesday question: What Happens If My Company Does Not Make Enough Money to Use WOTC Tax Credits This Year?
CMS Responds: In these troubling times we do have people who can’t use a tax credit. They don’t have enough revenue to generate the use of a tax credit. The good news is, if that’s the case you can actually carry them forward for up to 20 years under the General Business tax rules. So maybe you can’t use them this year, maybe next year will be better and you can use those tax credits then.
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