Great news! The IRS has provided a new grace period extending the deadline for WOTC applications of employees who live in a federal empowerment zone. Two WOTC target groups are affected.
- Designated Community Residents (Group D)
- Summer Youth Employees (Group F)
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…)
This question has been coming up since the passage in January of the American Taxpayer Relief Act of 2012. Did the act renew the Washington DC Empowerment Zone designation?
Answer: Unfortunately, no. (more…)
A workshop presented by the City of Fresno Downtown and Community Revitalization Department is scheduled for Thursday, August 25 from 3:30 to 5:00 PM at the Greater Fresno Area Chamber of Commerce. Visit the event webpage for more information and to RSVP. Also see the event’s promotional flyer. (more…)
Someone asked me recently (1) if the District of Columbia enterprise zone is considered to be a federal empowerment zone and (2) if all residents of the District of Columbia would be eligible employees for purposes of the empowerment zone employment credit.
There are ways in which the Washington DC zone is not exactly like other empowerment zones. For purposes of the empowerment zone employment credit, however, it’s a relatively simple concept. (more…)