WOTC Extension Discussion Progresses

Ways and Means Chairman Kevin Brady sent to the House Rules Committee last night a two-year tax extenders bill tabled as a House amendment to a Senate Amendment to H.R. 34, “Tax Increase Prevention and Real Estate Investment Act of 2015.”  This bill is only one option currently on the table with other options being a five-year extension and a broader bill making some extenders permanent. The House amendment reauthorizes the WOTC Program retroactively until the end of 2016, introduces a new target group, “Long-term unemployment recipient”, which is applicable to new hi...
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Why Companies Ignore Free Money

Hey, did you leave $9,600 sitting on the table?  If you didn’t consider hiring a military veteran for your last open position, then yes, you left a potential $9,600 of tax credits sitting on the table. Why do employers ignore a tax credit of up to almost ten thousand dollars for hiring some of the most qualified workers in the market today? Recruiters and HR professionals often say it is too hard and takes too much time to find qualified military veterans. Veteran Recruitment Made Easy Wouldn’t you love to know: how many veterans are in your area, ...
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Can the Same WOTC Tax Credits Cost 50% Less?

For decades now, the Work Opportunity Tax Credit (WOTC) has brought big money back to companies. In the olden days, AKA 90’s, WOTC was frankly a pain to deal with. Paper forms, discrepancies between federal and local documentation requirements, the hassle of just identifying and certifying applicants ...
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Louisiana Department of Economic Development Extends Credit Fee Emergency Rules

The emergency rules (originally set in place July 1, 2015) to set fees associated with various Louisiana corporate and personal income tax, sales and use tax, and property tax credit and incentive programs have been extended.  These programs include: Industrial Ad Valorem Tax Exemption Program; Enterprise Zone Program; Restoration Tax Abatement Program; Quality Jobs Program; Technology Commercialization Credit and Jobs Pro...
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Utah Veteran Credit Removed

The Utah veteran credit for recently deployed veterans will no longer be available beginning in 2016.  A Utah State Tax Commission notice indicates that the nonrefundable credit against corporate income tax will be removed from the 2016 corporate tax return and may not be claimed or carried forward. The removal is taking place due to the the following having been met:  (1) the total amount of the credit claimed is less than $10,000; (2) less than 10 persons file a ret...
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Work Opportunity Tax Credit (WOTC) Subscription Service

For years, vendor services for the Work Opportunity Tax Credit (WOTC) Program has had very little innovation and a stagnant pricing approach: Clients typically pay either a contingency based or per certification fee for a vendor to manage its WOTC Program. However, Walton Management Services, Inc. (WMS) is offering something unique to the tax credit marketplace: The WOTC Program as a subscription service. This flexible offering, which allows employers the option of taking an entire WOTC Program in house (with up to a 50% reduction in fees) or pursuing a “hybrid” model, in whic...
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Tax Credit Strategies: Identify and Hire Veteran Candidates

Walton Management Services, Inc. (WMS) is excited to announce our new partnership with RecruitMilitary, the leading full service military-to-civilian recruiting firm in the United States. This integration will allow employers to strategically target well-regarded veteran hires, thereby maximizing their potential tax credits from the Work Opportunity Tax Credit (WOTC) Program veteran target group. By leveraging ...
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Partner UI News: Michigan Taxable Wage Base for 2015 Updated

Barnett Associates, a key strategic WMS partner and expert in Unemployment Cost Control provides update regarding Michigan taxable wage base for 2015. Beginning with the third quarter of 2015, the TWB – the maximum annual wage on which an employer must pay unemployment taxes – will be lowered from the current rate of $9,500 to $9,000. This means that non-delinquent contributing employers will pay less in unemployment taxes for the upcoming quarters. In 2011, measures were taken by Michigan’s legislature that aimed to ensure adequa...
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iCIMS releases first quarter 2015 U.S. hiring trends

iCIMS, a leading global provider of applicant tracking and recruiting software, has recently released a report on job creation and demand trends for industries, geographies, and company sizes within the United States. Some key findings of the report include: The West has the highest demand for talent (i.e., open positions) in the healthcare industry. The technology and construction industries have the largest gap between talent entering the hiring pipeline and ...
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WOTC Extension Bill Passes Senate Finance Committee

The Senate Finance Committee overwhelmingly approved a tax extenders bill with a vote of 23-3.  In order to enhance passage, only a few amendments were allowed, and none affected a number of significant changes to certain tax credit programs in the original bill. The bill reauthorizes the Work Opportunity Tax Credit (WOTC) Program for a two-year period: Retroactively from January 1, 2015 through December 31, 2016.  The VOW to Hire Heroes Act tax credits for hiring post 9/11 disabled and other veterans also were extended for the same period as were the empowerment zone de...
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