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Posts published in “WOTC”

WOTC Transition Relief

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Late last year, Congress passed what is titled the Protecting Americans from Tax Hikes (PATH) Act of 2015.   This past week, the IRS issued Notice 2016-22 which provides guidance and Transition Relief for employers claiming the Work Opportunity Tax Credit (WOTC).  If you are not familiar with the WOTC, it is a tax incentive for employers to hire and retain individuals from specific target groups.  The groups include certain Veterans, Temporary Assistance for Needy Families (TANF) recipients, Food Stamp recipients, Supplemental Security Income (SSI) recipients, Vocational Rehabilitation (VR) Referred Individuals, Ex-Felons, Summer Youth employees, and  effective January 1st, 2016, there is…

Work Opportunity Tax Credit Extended and Expanded

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On December 18, 2015, President Obama signed the Omnibus Spending Bill H.R. 2029 and the PATH Act (Protecting Americans from Tax Hikes Act of 2015) into law, which among other provisions, provides a five-year extension to the Work Opportunity Tax Credit (WOTC) program, as well as expands its scope of eligible groups. The WOTC is basically a tax incentive for employers to hire and retain individuals from specific target groups.  The groups include certain Veterans, Temporary Assistance for Needy Families (TANF) recipients, Food Stamp recipients, Supplemental Security Income (SSI) recipients, Vocational Rehabilitation (VR) Referred Individuals, Ex-Felons, and Summer Youth employees.…