Efficient Hire
With so many business challenges right now, we want to share how you can gain significantly more in tax credits. These gains will help your company as you navigate through COVID-19 and beyond! The WOTC (Work Opportunity Tax Credit) Program provides significant tax credits to employers who hire individuals that are part of certain target …
The Department of the Treasury and the Internal Revenue Service (IRS) recently issued Notice 2020-23 that extends the due date for certain time-sensitive acts specified in Revenue Procedure 2018-58, 2018-50 IRB 990. The extension for WOTC means real dollars Under the extension for WOTC notice, employers that otherwise would be required to submit IRS Form …
On March 18, 2020, the U.S. Senate approved House-passed legislation responding to the COVID-19 pandemic. The bill was then sent to the President, who signed it into law. Of direct interest to the business community, this new law includes requirements for specified employers to provide emergency paid sick leave, as well as emergency paid leave …
President Donald Trump has signed the tax extenders bill providing a one-year extension of the Work Opportunity Tax Credit (WOTC) through 2020. The SHRM-supported Work Opportunity Tax Credit (WOTC) provides employers with a tax incentive to hire employees from disadvantaged groups. SHRM continues to advocate for legislation making the WOTC permanent. In addition, E-Verify was …
The IRS just released the new 2020 Federal W-4 Form on December 5, 2019! What’s the Deal? “The primary goals of the new design are to provide simplicity, accuracy and privacy for employees while minimizing burden for employers and payroll processors,” IRS Commissioner Charles Rettig said. So, why all the changes to the W-4? The …
Just moments ago, the Senate passed the Taxpayer Certainty and Disaster Tax Relief Act of 2019 also known as the 2019 tax extenders bill, on Thursday, December 19th, and now the legislation heads to the President’s desk for final signature. At Efficient Hire, we’re excited this bill is nearing the finish line! We’re especially looking …
After intense negotiations, Congress passed the Taxpayer Certainty and Disaster Tax Relief Act of 2019 also known as the 2019 tax extenders bill, on Tuesday, December 17th, and now the legislation is expected to be signed by the Senate later this week. At Efficient Hire, we’re always following the latest news on tax extenders, especially …
The Work Opportunity Tax Credit (WOTC) can provide a significant tax advantage to employers who hire qualifying workers. However, jumping through the hoops to prove that an employee is qualified can be cumbersome. Timely submission of certification requests is an important part of the hiring and onboarding process. It is very important to submit the …
If you haven’t been taking advantage of Work Opportunity Tax Credits or are asking yourself “what are WOTC target groups?”, there’s a good chance that your organization is missing out on some important tax incentives. What Are WOTC Target Groups? The government defines target groups as categories of people who face life circumstances that …
Since its inception in 1996, the Work Opportunity Tax Credit program has served as a highly effective way to reduce involuntary unemployment for this nation’s citizens. By incentivizing employers to hire people who are struggling to find work, these tax credits directly reduce the need for public assistance and help communities and businesses thrive. Because …