CMS’s Brian Kelly answers your questions about the Work Opportunity Tax Credit.
Today’s WOTC Wednesday question: What If My Company Did Not Make Enough Money to Use WOTC Tax Credits This Year?
CMS Responds: What Happens If My Company Did Not Make Enough Money to Use WOTC Tax Credits This Year? The good news is the WOTC program is under the General Business Tax Laws which states that you can actually go back one year or carry forward for up to 20 years. So if you’re not making enough revenue to utilize the tax credits this year you certainly can carry them forward.
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