The IRS just extended the WOTC program for an additional five years. Also, the IRS has approved employers to conduct a Lookback Review of all 2015 new hires. What does this mean for your staffing firm?
First enacted in 1996 to encourage the hiring of select groups of workers including Veterans, people with some type of disability and those which are economically disadvantaged, WOTC is tailor-made for organizations that facilitate the hiring of large numbers of hourly-wage employees, such as staffing agencies.
With the right preparation, the program, and its extension for an additional five years, can be leveraged by your organization to significantly reduce your federal tax liability and improve sustainability. Over $5 billion in WOTC credits went unclaimed last year, and any business that pays Federal taxes is eligible for the tax credit program.
If you’d like more information about WOTC, its extension, the lookback review of your 2015 hires, or leveraging WOTC to improve corporate sustainability, Clarus Solutions is hosting a free WOTC intro webinar on Thursday, March 24, at 3pm Eastern. Register at attendee.gotowebinar.com/register/484835522938293506.
#RegionalVicePresident #AreaVicePresident #SVPStaffingOperations #AreaOperationsManager