The Work Opportunity Tax Credit (WOTC) is set to expire on December 31, 2020, unless reauthorized by federal legislation. The U.S. Department of Labor Employment and Training Administration (ETA) has no indication whether Congress will pass legislation reauthorizing the tax credit for wages paid or incurred after December 31, 2020. Effective January 1, 2021, WOTC[…]
As you may be aware, the Work Opportunity Tax Credit is scheduled to expire on 12/31/2020. The Law360 Tax Authority blog has recently reported that the renewal Of Tax Extenders (WOTC is part of this package) may have to wait until next year due to the ongoing focus on the Coronavirus pandemic. A potential expiration[…]
Cost Management Service’s Brian Kelly talks about the pending expiration of the Work Opportunity Tax Credit (WOTC) at End of 2019, and it’s possible hiatus. TRANSCRIPT: “What is WOTC? WOTC stands for Work Opportunity Tax Credits by the way. It’s a federal tax credit program that’s available for employers that is rewarding them for hiring[…]
Keep up-to-date with the Work Opportunity Tax Credit with these recent news articles about WOTC: Tax Writers Hope to Address Tax Extenders Before they Expire at the end of 2019, Including the Work Opportunity Tax Credit Bloomberg reports that Lawmakers returning from recess will begin working on the contours of a tax package that they[…]
Both the House and the Senate have shown strong interest in the Work Opportunity Tax Credit in 2019, and as you can see from the table below, that interest has been bubbling all year long. The Work Opportunity Tax Credit is currenly scheduled to expire on December 31st, 2019. As of August 23rd there are[…]
For the past 17 years CMS has been helping clients take advantage of the Federal Work Opportunity Tax Credit program (“WOTC”) and we want to make sure we keep maximizing the tax credits you receive. With that in mind, you may be hearing & reading that the WOTC program under the American Recovery Act expired[…]