CMS Work Opportunity Tax Credit Newsletter November 2020
In this issue:
- Senator Rob Portman (R-OH) Calls to Make Work Opportunity Tax Credit Permanent
- A Word on WOTC’s Renewal
- Increased Integration for WOTC Tax Credit to iRecruit, Applicant Tracking Software
- Understanding WOTC’s Target Groups: Long Term Family Assistance
- Work Opportunity Tax Credit Statistics for Georgia
- WOTC Questions: Hiring Veterans
- Switch To Paperless WOTC Screening
Senator Rob Portman (R-OH) made an appearance on the Urban-Brookings Tax Policy Center podcast “Dollars and Sense” in which he called for an expansion of the Work Opportunity Tax Credit making it permanent, and to update the qualifying categories due to Covid-19.
As you may be aware, the Work Opportunity Tax Credit is scheduled to expire on 12/31/2020. Law360 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 does not mean we stop processing WOTC. We encourage all employers to continue screening, within the 28 days of hire, so that you do not miss out on tax credits. Historically, if WOTC is allowed to expire, Congress will authorize retroactive screening which will cover the period of expiry.
The streamlined integration allows iRecruit customers to increase their WOTC participation, quickly identify potentially qualified candidates through reporting and dashboard widgets, as well as the applicant profile page. The integration also allows for reporting of new hires, which speeds up the reporting process to state workforce agencies.
In 2019 the state of Georgia issued 92,679 Work Opportunity Tax Credit certifications. Nationwide the peach state issued 4.48% of all WOTC Tax Credits in 2019, and came first in the Veteran unemp. 4 Wk category. SNAP recipients were Georgia’s largest category at 67.33%.
Other Recent WOTC Questions Answered:
- Can You Do a WOTC Application on a Cell Phone?
- If we hire temporary employees for 90 days can we claim the WOTC on those 90 days or not until after we directly hire them?
- Does the WOTC apply only the qualified employee’s first year of employment or every year they work?
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.
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Related: WOTC Newsletter Archive