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…)
Some rough politics are on the horizon as Congress tries to divert the U.S. economy’s path away from the 2013 fiscal cliff. A small but not unimportant element in this effort is the passage of a tax extenders bill covering WOTC, empowerment zones and renewal communities, the research and development credit, and others similar tax incentives. (more…)
It is quite sad. Just 2 days before the Senate Finance Committee completed its markup of the Family and Business Tax Cut Certainty Act of 2012, the Department of Labor issued Training and Guidance Letter (TEGL) 04-2012.
TEGL 04-2012 introduces the Department’s updated Form ETA 9061, which is the Individual Characteristics Form included in the WOTC program’s employee-application for certification. (more…)
Good news came smiling out of Washington, D.C. this week for the Work Opportunity Tax Credit (WOTC) program and a number of other tax extenders. Some of you have contacted me with leads and insights, for which I thank you all.
On Wednesday, Senator Max Baucus, Chairman of the Senate Finance Committee (a Democrat) and Senator Orin Hatch, the Committee’s top ranking Republican announced that a bipartisan agreement had been reached for the nervously-awaited tax extenders bill. (more…)
Congress passed the Continuing Resolution yesterday, providing funds to keep the government going through December 3rd. While many hoped the legislation would include Senator Baucus’ Tax Extenders Bill, those hopes were dashed. That, however, was not a surprise. (more…)
Recently, I’ve received inquiries about Congressional efforts to extend the expired Hurricane Katrina provision of the Work Opportunity Tax Credit Program. Here’s the latest as I understand it.
The Hurricane Katrina WOTC provision has NOT yet been extended. But it is part of the currently idle Baucus Job Creation and Tax Cuts Act — also known as the Baucus Tax Extenders bill. (more…)