How are the WOTC Tax Credits Calculated? At CMS, as Work Opportunity Tax Credit (WOTC) experts and service providers since 1997, we receive a lot of questions via our website. CMS Says: The Work Opportunity Tax Credit is equal to 25% or 40% of a new employee’s first-year wages, up to the maximum for the target[…]
How long must records be retained for WOTC? At CMS, as Work Opportunity Tax Credit (WOTC) experts and service providers since 1997, we receive a lot of questions via our website. CMS Says: Records for the Work Opportunity Tax Credit must be kept on file (paper or digital) for a minimum of three years from[…]
How Do I Appeal a Denied WOTC Credit? At CMS, as Work Opportunity Tax Credit (WOTC) experts and service providers since 1997, we receive a lot of questions via our website. CMS Says: Most denials are because of missing information, and requests for information that were not responded to in a timely manner. You have the[…]
While there is not a way to expedite the Work Opportunity Tax Credit process, especially if your state has a large backlog of applications. There is a way to make sure you’re not delayed by requests for additional information. With that in mind we’ve put together this simple checklist for you: Contact CMS[…]
How long will it take to complete the WOTC screening process? At CMS, as Work Opportunity Tax Credit (WOTC) experts and service providers since 1997, we receive a lot of questions via our website. CMS Says: The actual paperwork, whether done online, via phone, or actually on paper should only take a few minutes to[…]
How do I know which employees are eligible? At CMS, as Work Opportunity Tax Credit (WOTC) experts and service providers since 1997, we receive a lot of questions via our website. CMS Says: There are nine target groups of employees who are eligible: Veterans TANF Recipients SNAP (Food Stamp) Recipients Designated Community Residents (living in[…]
Is the WOTC used against my payroll taxes? At CMS, as Work Opportunity Tax Credit (WOTC) experts and service providers since 1997, we receive a lot of questions via our website. CMS Says: WOTC is not applied against payroll taxes, it is used against any federal income taxes that are owed. Contact CMS Today to Start[…]
We hire a lot of people who’s first language is Spanish. Is There a Spanish Language Form Available? At CMS, as Work Opportunity Tax Credit (WOTC) experts and service providers since 1997, we receive a lot of questions via our website. CMS Says: Yes, all the WOTC Forms 8850, 9061 are available on the Department[…]
How long does the employee have to work to get the full credit of $2,400? At CMS, as Work Opportunity Tax Credit (WOTC) experts and service providers since 1997, we receive a lot of questions via our website. CMS Says: In order for you to reach the maximum credit of $2,400, the employee must work[…]
Can I Hire an Unemployed Family Member and Receive Credit? I hired a family member who was unemployed for over 27 weeks, can I claim the WOTC credit? At CMS, as Work Opportunity Tax Credit (WOTC) experts and service providers since 1997, we receive a lot of questions via our website. CMS Says: No, unfortunately family[…]