As a leading provider of Work Opportunity Tax Credit (WOTC) administration services, Cost Management Services (CMS) has been diligently watching the renewal status of the Work Opportunity Tax Credit all year long.
This week both the House and Senate voted to approve H.R. 1865, Further Consolidated Appropriations Act, 2020, which includes a one-year extension for WOTC, including the VOW To Hire Heroes Act and retroactive extensions for Federal Empowerment Zones (FEZ) and the Indian Employment Credit (IEC). Today, President Trump has signed it into law.
I will be signing our 738 Billion Dollar Defense Spending Bill today. It will include 12 weeks Paid Parental Leave, gives our troops a raise, importantly creates the SPACE FORCE, SOUTHERN BORDER WALL FUNDING, repeals “Cadillac Tax” on Health Plans, raises smoking age to 21! BIG!
— Donald J. Trump (@realDonaldTrump) December 20, 2019
The legislation includes renewing and extending to December 31, 2020:
- Indian Employment Credit (IEC) from 2017
- Federal Empowerment Zones (FEZ) from 2017
- Work Opportunity Tax Credit, (Renewed through 12/31/2020)
CMS’s Brian Kelly said of the renewal: “We are extremely pleased with the news that the Work Opportunity Tax Credit has been renewed and extended through the end of 2020. We have customers from all across the United States anticipating tax credits, and due to its extension they will be pleased to know that there is no hiatus for the program.”
About Our WOTC Screening Services
- Why you should use CMS’s WOTC Tax Screening Service rather than doing it yourself.
- Get an idea of how much you could be saving by utilizing the Work Opportunity Tax Credit for your company, try our WOTC Calculator.
- Are you a CPA or tax service provider? Find out how you can become a strategic Business Partner.
Contact CMS Today to Start Saving!
In over 20 years of providing valuable WOTC Screening and Administration services we’ve saved millions for our customers.
Contact CMS today to start taking advantage. Call 800-517-9099, or click here to use our contact form to ask any questions.