WASHINGTON — With many businesses facing a tight job market, the Internal Revenue Service reminds employers to check out a valuable tax credit available to them for hiring long-term unemployment recipients and other categories of workers with employment barriers.
During National Small Business Week — April 29 to May 5 — the Internal Revenue Service highlighted tax benefits and resources designed to help new and existing small businesses. Read More
Employers may want to consider the Work Opportunity Tax Credit (WOTC) for new hires. WOTC is a federal income tax credit available to employers that hire individuals from targeted groups that have traditionally faced barriers to employment.
The Veterans Opportunity to Work to Hire Heroes Act of 2011 (“VOW to Hire Heroes Act”) expanded the tax credit for veterans and the Protecting Americans from Tax Hikes of 2015 (“PATH Act”) extended WOTC through December 31, 2019. A qualified veteran is a veteran certified as any of the following: Read More