Employers interested in the Work Opportunity Tax Credit (WOTC) and the federal Empowerment Zone program received good news this morning. Just after 5:30 AM, President Donald Trump announced that he had signed the Bipartisan Budget Act of 2018.
With this deal, numerous expired tax benefits were retroactively reauthorized including federal Empowerment Zones. Renewing Empowerment Zones also impacts the WOTC program.
Qualification under WOTC Target Groups D and F, “Designated Community Resident” and “Summer Youth,” respectively, among other things requires that an employee reside within an authorized Empowerment Zone. (more…)
Friday, 09 February 2018