CMS WOTC Newsletter April 2021 - Cost Management Services Work Opportunity Tax Credits Experts

CMS Work Opportunity Tax Credit Newsletter April 2021

In this issue:

Work Opportunity Tax Credit – WOTC – Statistics 2020
How Are We Doing? Please Take Our Customer Survey
Four Things You Didn’t Know About the Work Opportunity Tax Credit
WOTC Wednesday: How Long Does it Take to Receive a WOTC Certification?
Upcoming Webinar: Introduction to iRecruit with WOTC Integration
Understanding WOTC’s Target Groups: Designated Community Resident
Work Opportunity Tax Credit Statistics for Florida
Switch To Paperless WOTC Screening in 2021
#ICYMI

Work Opportunity Tax Credit – WOTC – Statistics 2020

MARCH 2020 – The latest statistics for the Work Opportunity Tax Credit from 2020 have just been released, and the data shows 1,620,806 total Work Opportunity Tax Credits were issued in the United States in 2020. This represents an almost 22% drop over previous years 2019 (2,066,616 credits), and 2018 (2,204,142 credits), and shows the dramatic impact of COVID-19 on the U.S. economy.

How Are We Doing? Please Take Our Customer Survey

With the 2020 tax season behind us and as the world slowly shifts back to normal. At CMS we strive to do better and implement new features that help our clients. We would love to get your feedback on how we’re doing, and how we might improve. If you have a few minutes, please complete our survey.

Four Things You Didn’t Know About the Work Opportunity Tax Credit

The Work Opportunity Tax Credit known as #WOTC is a federal tax credit available to employers who hire individuals from disadvantaged groups of workers. So what does CMS know about WOTC, that most employers don’t?

WOTC Wednesday: How Long Does it Take to Receive a WOTC Certification?

CMS’s Brian Kelly answers your questions about the Work Opportunity Tax Credit in our new weekly video Q&A series #WOTCWednesday.

Other Recent WOTC Questions Answered:

Upcoming Webinar: Introduction to iRecruit with WOTC Integration

Join CMS to find out how you can have an applicant tracking software with paperless onboarding, and WOTC screening. Register today

Date: Wednesday, April 14th
Time: 11:00am Eastern/8:00am Pacific

Understanding WOTC’s Target Groups: Designated Community Resident

New hires who fall under one or more of WOTC’s Target Groups may make you eligible for a WOTC Tax Credit. Target Group #4 is the Designated Community Resident. 68,198 individuals were hired with certification from this group in 2020. A “Designated Community Resident” is an individual who, on the date of hiring:

Is at least 18 years old and under 40,
Resides within one of the following:
- An Empowerment zone
- An Enterprise community
- A Renewal community
AND continues to reside at the locations after employment.

Read more about Empowerment Zones, Enterprise Communities, and Rural Renewal Communities. CMS automatically screens each new hire to determine if they qualify based on their location.

Work Opportunity Tax Credit Statistics for Florida

In 2020 the state of Florida issued 79,311 Work Opportunity Tax Credit certifications. Nationwide Florida issued 4.89% of all WOTC Tax Credits in 2020. SNAP was Florida’s highest tax credit category with 72.3% of certifications for that category.

Switch to Paperless WOTC Screening in 2021

CMS has been providing Work Opportunity Tax Credit screening services for over 20 years. We have helped save employers millions of dollars that can be reinvested back into their businesses. We highly encourage customers to take advantage of the online WOTC screening form that we developed or the call center, both of which provide several benefits to you.