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[…]
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[…]
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[…]
It was announced this week that Ohio Senators Sherrod Brown and Rob Portman, introduced the Work Opportunity Tax Credit & Jobs Act to the Senate, a bill which proposes to make the Work Opportunity Tax Credit permanent. CMS’s Brian Kelly said this makes perfect sense. Contact CMS Today to Start Saving! In our 22[…]
On Tuesday, April 2nd, Ohio Senators Sherrod Brown and Rob Portman, introduced the Work Opportunity Tax Credit & Jobs Act to the senate. “Our economy is creating jobs and increasing wages, and that’s good news, but we have much more work ahead to help those individuals who are in the shadows and struggling to find[…]
WASHINGTON — Congress on Friday morning overwhelmingly gave final approval to a sweeping, year-end fiscal package that includes a $1.15 trillion spending measure as well as $620 billion in tax breaks (including Work Opportunity Tax Credits) for businesses and low-income workers. The bill now goes to the White House, where President Obama has said he[…]
In a decisive 23-3 vote on July 21, the Senate Finance Committee approved a two-year extension of numerous tax provisions. The group of over 50 credits and deductions, collectively known as tax extenders, expired on December 31, 2014 and would be extended through the end of 2016 if the bill is approved by Congress and[…]
Reminder to CMS customers using the Work Opportunity Tax Credit Administration service. If you are using CMS’s WOTC administration services please continue to have all your new hires complete the WOTC paperwork, either online through your secure portal web link, or via the 1-800 Call Center, or via mail within 28 days of their start[…]
CMS is excited to report that the U.S. Senate has passed a $42 billion package of tax incentives. The bill H.R.5771 extends Business Tax Extenders through 2014, including the Work Opportunity Tax Credit #WOTC. CMS’s Brian Kelly tells us “While this means that the credit will expire in two weeks, on December 31st 2014, CMS expects that[…]