Ex-felon maximum credit is $2,400. Is this for regardless of how many ex-felons I hire? At CMS, as Work Opportunity Tax Credit (WOTC) experts and service providers since 1997, we receive a lot of questions via our website. This week’s question came from an employee! CMS Says: Yes! As long as the qualified employee works[…]
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 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[…]
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[…]
Where do I get a copy of a DD214 form? 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: Qualified Veterans need to provide a copy of their Certificate of Release or Discharge from Active Duty form, known as a DD214[…]
Do you have an online questionnaire for employers to use for all new hires (I heard the process can be cumbersome)? At CMS, as Work Opportunity Tax Credit (WOTC) experts and service providers since 1997, we receive a lot of questions via our website. In the case of the above question, the sender did not[…]
At CMS, as Work Opportunity Tax Credit “WOTC” subject matter experts and service providers since 1997, we receive a lot of questions via our website and through the webcasts we attend. This week’s WOTC Question comes from the chat box on our website: Can family members qualify employers for the WOTC tax credit? CMS says:[…]
At CMS, as Work Opportunity Tax Credit “WOTC” subject matter experts and service providers since 1997, we receive a lot of questions via our website and through the webcasts we attend. This week’s WOTC Question comes from one of our recent webinars: What is the benefit to the employee? CMS says: This is actually a pretty[…]