U.S. Department of Labor Issues Funding to State Workforce Agencies
State Workforce Agencies (SWAs) responsible for the administration of the Work Opportunity Tax Credit (WOTC) Program are working diligently to process retroactive and current WOTC Program certification requests.
Tax Extenders Signed into Law
On Friday, December 18, 2015, President Obama signed into law H.R. 2029 - Consolidated Appropriations Act, 2016. This measure is the vehicle for the Consolidated Appropriations Act, 2016 and the Protecting Americans from Tax Hikes Act of 2015, in which the tax extenders have been renewed for various periods and, in some cases, expanded.
The compromise legislation included both the $1.1 trillion omnibus spending bill and the $622 billion for the tax extenders. Within the legislation is a five-year renewal of the Work Opportunity Tax (WOTC) Program, with a retr...
WOTC Five Year Extension
The Senate voted 55-33 to pass H.R 2029, the Omnibus appropriations and tax extenders bill and sent the bill to the President for his signature. The bill contains a five year retroactive extension of WOTC and the VOW To Hired Heroes Act tax credits for hiring veterans. The President has said he will sign the bill. He has until midnight December 22 to do so because government funding runs out at that time.
Tax Credit Extenders H.R. 2029 Amendment #2 Passes House
The House has approved H.R. 2029 as amended with The Protecting Americans From Tax Hikes Act, which both renews and expands various tax credit programs. In particular, the Work Opportunity Tax (WOTC) Program will be renewed for a period of five years, with a retroactive start date of January 1, 2015 through December 31, 2019. Also included in the renewal of the WOTC Program is an expansion in which a new target group has been added to the existing nine groups. The new target group is the long-term unemployment recipient, which includes individuals who have been receiving f...
Tax Credit Extenders Renewal Continues to Move Forward
H.R. 2029 has been amended with The Protecting Americans From Tax Hikes Act to both renew and expand various tax credit programs. In particular, the Work Opportunity Tax (WOTC) Program will be renewed for a period of five years, with a retroactive start date of January 1, 2015 through December 31, 2019. Also included in the renewal of the WOTC Program is an expansion in which a new target group has been added to the existing nine groups. The new target group is the long-term unemployment recipient, which includes individuals who have been receiving federal or state unemplo...
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 ...
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...
WOTC Extended Deadline for 2014 IRS 8850 Form Filing
IRS Notice 2015-13, “Work Opportunity Tax Credit (WOTC) Extension For 2014.” The notice may be accessed at www.irs.gov/pub/irs-drop/n-15-13.
Employers have until April 30, 2015 to file certification requests (IRS Form 8850) with the appropriate state workforce agency for workers hired from January 1 through December 31, 2014. The Not...
Tax Extenders Legislative Update
Senate Finance Committee Chairman Ron Wyden, D-Ore., led the Finance Committee yesterday to pass bipartisan legislation renewing a set of provisions known as “tax extenders” that have expired or will expire at the end of this year. The bill, entitled the Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act, was approved by bipartisan voice vote.