Tag: Wotc

It’s Time for Congress to Reauthorize WOTC

Friday, 08 November 2019

By

Vaughn Hromiko

Maybe you’ve heard that the Work Opportunity Tax Credit (aka WOTC) is slated to expire on December 31, 2019. And that makes you nervous.

But should it?

Forty years of productive history suggest that WOTC will still be around for years to come.

WOTC is part of the U.S. tax code. Like dozens of similar code provisions, Congress wrote it in a way that requires them to revisit the program from time to time. The upcoming expiration date signals that the moment has arrived again.

Has it happened before? Yes. Many times.

(more…)

History Of Wotc, Tax Extenders, Work Opportunity Tax Credit, Wotc
Read more: It’s Time for Congress to Reauthorize WOTC

PUBLISHED IN

Work Opportunity Tax Credit

2 responses
Is Something Valuable Missing from Your Hiring Checklist?

Thursday, 26 September 2019

By

Vaughn Hromiko

Most human resources departments use a checklist when hiring new employees. Lists are so 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.

Unfortunately, most employers have missed something valuable on their hiring checklist and it’s costing money every year.

Is it missing from yours?

(more…)

Hiring Checklist, Onboarding, Work Opportunity Tax Credit, Wotc
Read more: Is Something Valuable Missing from Your Hiring Checklist?

PUBLISHED IN

Marketplace Partner, Work Opportunity Tax Credit
WOTC Popping Up in Unexpected Places

Friday, 13 September 2019

By

Vaughn Hromiko

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.

(more…)

Bonnie Watson Coleman, Corry Booker, Federal Jobs Guarantee Development Act, Ilhan Omar, Task Force Report, Work Opportunity Tax Credit, Wotc
Read more: WOTC Popping Up in Unexpected Places

PUBLISHED IN

Work Opportunity Tax Credit
Disappointment? – WOTC Consensus Missing from Task Force Report

Wednesday, 28 August 2019

By

Vaughn Hromiko

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…)

Senator Rob Portman, Task Force Report, Work Opportunity Tax Credit, Wotc
Read more: Disappointment? – WOTC Consensus Missing from Task Force Report

PUBLISHED IN

Work Opportunity Tax Credit

One response
The Future of WOTC – Senate Task Force Reaches Consensus

Thursday, 15 August 2019

By

Vaughn Hromiko

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?

(more…)

Senator Rob Portman, Work Opportunity Tax Credit, Wotc
Read more: The Future of WOTC – Senate Task Force Reaches Consensus

PUBLISHED IN

Work Opportunity Tax Credit
Iowa’s Special Tax Benefit Helps Ex-offenders and Small Employers

Thursday, 25 July 2019

By

Vaughn Hromiko

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…)

Ex Offender, Iowa, Small Business, Work Opportunity Tax Credit, Wotc
Read more: Iowa’s Special Tax Benefit Helps Ex-offenders and Small Employers

PUBLISHED IN

Work Opportunity Tax Credit
Proposed Senate Bill to Support both Hiring Military Spouses and Childcare Spending Options

Tuesday, 16 July 2019

By

Vaughn Hromiko

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.

(more…)

Jobs And Childcare For Military Families Act Of 2019, Small Business, Work Opportunity Tax Credit, Wotc
Read more: Proposed Senate Bill to Support both Hiring Military Spouses and Childcare Spending Options

PUBLISHED IN

Work Opportunity Tax Credit
Tax Extenders Bill Advances Through House Ways and Means

Wednesday, 26 June 2019

By

Vaughn Hromiko

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.

(more…)

Tax Extenders, Taxpayer Certainty And Disaster Relief Act, Work Opportunity Tax Credit, Wotc
Read more: Tax Extenders Bill Advances Through House Ways and Means

PUBLISHED IN

Work Opportunity Tax Credit
Supermarket Tax Credit Act Would Increase WOTC in 2020

Tuesday, 18 June 2019

By

Vaughn Hromiko

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.

(more…)

Hr 3123, Locally Grown Fresh Fruits And Vegetables Credit, Rehabilitation Credit, Supermarket Tax Credit For Underserved Areas Act, Work Opportunity Tax Credit, Wotc
Read more: Supermarket Tax Credit Act Would Increase WOTC in 2020

PUBLISHED IN

Work Opportunity Tax Credit
Grassroots Strategy Bears WOTC Fruit for American Military Spouses

Monday, 03 June 2019

By

Vaughn Hromiko

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.

(more…)

Antonio Delgado, H R 2912, National Military Spouse Network, Work Opportunity Tax Credit, Wotc
Read more: Grassroots Strategy Bears WOTC Fruit for American Military Spouses

PUBLISHED IN

Unemployed Veteran, Work Opportunity Tax Credit

Tag: Wotc

2 responses

One response

What About WOTC?

Expanding WOTC