Something Valuable Could Be Missing from Your Hiring Checklist.
Most human resources departments use a checklist when hiring new employees. Such lists are critically important, whether they are printed on paper or managed electronically by a paperless onboarding system. Lists help us to consistently and fairly walk new workers through a litany of important tasks.
Compare the Items on Your List:
I gleaned the following items from one such checklist published by SHRM.
- Completed job application
- Authorizations for background check and drug screening
- References
- Form I-9
- Federal & state tax withholding forms
- Company policy acknowledgement forms
- Emergency contact form
- Benefits information and enrollment forms
- Filing and data entry
- Published in Marketplace Partner, Work Opportunity Tax Credit
WOTC Popping Up in Unexpected Places
The Work Opportunity Tax Credit (WOTC) has received a lot of attention from legislators this year. A report recently released by the Senate Finance Committee’s Employment and Community Development Taskforce outlined a total of 16 bills, all introduced in the current Congress. Each would either expand, increase, or extend the WOTC program.
Yesterday, Senator Corry Booker (D, NJ) and Representatives Bonnie Watson Coleman (D-NJ), and Ilhan Omar (D-MN) introduced yet another bill. More correctly, the Federal Jobs Guarantee Development Act was re-introduced yesterday, since Senator Booker originally presented this bill to the previous Congress on April 25, 2018.
- Published in Work Opportunity Tax Credit
Disappointment? – WOTC Consensus Missing from Task Force Report
The Senate Finance Committee’s Employment and Community Development Taskforce has finally released its report. Unfortunately, the consensus about WOTC subtly mentioned earlier this month by Senator Rob Portman (R-Ohio) is absent from the document. But that’s not all bad. Perhaps we need to read between the lines.
Download the report here.
Per the report, the group was tasked to examine the following six tax incentive programs:
(more…)
- Published in Work Opportunity Tax Credit
The Future of WOTC – Senate Task Force Reaches Consensus
The Senate Finance Committee released the first 3 of 6 reports investigating the status and future of numerous federal tax incentive programs.
According to an article published by Bloomberg on Tuesday, “Two of the reports released, on energy and individual tax provisions, didn’t reach definitive conclusions, indicating either weak support or divided opinion for some of those provisions.”
You can download those reports here: (energy) and (individual)
What About WOTC?
- Published in Work Opportunity Tax Credit
Iowa’s Special Tax Benefit Helps Ex-offenders and Small Employers
Photography by Suzy Hazelwood.
According to the U.S. Department of Justice, more than 10,000 former prisoners are released every week across America. They need jobs. In fact, the Prison Policy Initiative reports that 2 years after release, more than 30% are still unemployed.
Gratefully, the State of Iowa offers a special tax benefit to small businesses that hire ex-felons residing in that state. In addition to the federal Work Opportunity Tax Credit (WOTC), Iowa small businesses can receive a tax deduction of up to $20,000 per qualifying hire. Since this is a deduction (not a tax credit), the actual tax effect depends on the business’ tax rate.
(more…)
- Published in Work Opportunity Tax Credit
Proposed Senate Bill to Support both Hiring Military Spouses and Childcare Spending Options
Building on the success of the Work Opportunity Tax Credit (or WOTC), Senator Tim Kaine (D-VA) introduced a bill to expand employment opportunities for military spouses.
Expanding WOTC
Known as the Jobs and Childcare for Military Families Act of 2019, Senate Bill 1802 would recognize “Qualified Military Spouse” as a new WOTC program target group.
- Published in Work Opportunity Tax Credit
Tax Extenders Bill Advances Through House Ways and Means
On June 20th, after a marathon mark-up session and by a vote of 24-17, the US House Ways and Means Committee advanced a number of measures. Of most importance to the Work Opportunity Tax Credit (WOTC), was H.R. 3301, “The Taxpayer Certainty and Disaster Relief Act.” The bill would extend for one year a number of incentives scheduled to expire at the end of 2019, including the Work Opportunity Tax Credit. This would extend WOTC and other provisions listed through 2020.
- Published in Work Opportunity Tax Credit
Supermarket Tax Credit Act Would Increase WOTC in 2020
On June 5, 2019, Representative Steve Cohen (D, District of Columbia) introduce HR 3123, the Supermarket Tax Credit for Underserved Areas Act. This bill proposes both new and increased tax incentives for operators who set up new supermarkets within designated areas nationwide.
The bill has eleven cosponsors from the District of Columbia and the states of Arizona, California, Illinois, Maryland, Massachusetts and New York.
- Published in Marketplace Partner, Work Opportunity Tax Credit
Grassroots Strategy Bears WOTC Fruit for American Military Spouses
Featured artwork by Courtney Chauvin.
Three weeks ago, we informed you about a coordinated passionate effort by the National Military Spouse Network to “Storm the Hilll” (as in Capitol Hill). Military spouses everywhere called upon Congress to reduce employment barriers faced by the husbands and wives of America’s soldiers. (See WOTC for Military Spouses – Encouragement for Unsung Heroes).
One of the group’s goals is to expand the Work Opportunity Tax Credit (WOTC) program to include military spouses as a target group. Their efforts are being rewarded.
- Published in Veterans, Work Opportunity Tax Credit
Says Congressman Mike Thompson, “Please help us make WOTC permanent!”
The letter begins in traditional fashion.
Dear Colleague:
We write to ask you to cosponsor H.R. 2213 to permanently extend the Work Opportunity Tax Credit (WOTC). After receiving a five-year extension as part of the PATH Act in 2015, WOTC is scheduled to expire at the end of this year.
- Published in Work Opportunity Tax Credit