| May 07, 2015
| May 04, 2015
The Work Opportunity Tax Credit News
The Work Opportunity Tax Credit (WOTC) has been reauthorized to cover the 2014 lapse, retroactive to December 31, 2013. Although WOTC has not yet been reauthorized for 2015, State Workforce Agencies will continue to accept applications in anticipation of another retroactive authorization for 2015. Read the full guidance letter.
What is WOTC?
A Federal tax credit for employers who hire and retain veterans and individuals with significant barriers to employment. Employers claim about $1 billion in tax credits each year under this program. There is no limit on the number of individuals hired to qualify for the tax credit and a few simple steps to apply.
Learn more about WOTC from the US Department of Labor.
To learn more about the many tax benefits for businesses who hire individuals with disabilities, visit the IRS information page.
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