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Tax Credits Blog

Status Quo

Finally the world of WOTC has calmed down.  States are catching up to the backlogs they've developed over the years.  The big question is what with the new administration do with the programs - they can 1) leave them alone, 2) make them a permanent part of the tax law or abolish them.  Its hard to tell with the new man in charge but I'll let you know when I find out.

 

In the mean time, if you would like us to check out your company for possible state tax credits, let me know.  This email address is being protected from spambots. You need JavaScript enabled to view it..

 

SIncerely,

 

Ken Brice

 

Only 25 days left to claim WOTC credits for 2015 hires

Sep 28, 2016 is the last day to mail in the forms to qualify any 2015 hires.

 

Quick math - take the number of people on payroll hired between 1/1/15 and 8/31/16, multiply that number by $200.  Thats' a quick ballpark on how much in credits you can claim if you meet the filing deadline of 9/28/16.  We can help you.  Call me at 908-262-7120 or send me an email at This email address is being protected from spambots. You need JavaScript enabled to view it. and I'll step you through for a fee of 10% of what we collectively collect.  Its like buying dollars for $.10.

 

Ken Brice

Only 46 days left to file for 2015 hire

On 9/29/16, the window will close.  That means you only have 46 days left from today to file the WOTC applications (8850 and 9061) for anyone hired between 1/1/5 and 8/31/16.  The return can be significant.

Since any of your hires that fit this date range have probably earned the maximum of $6,000 in their first year - the payback is a tax credit of $2,400.  Depending on a lot of things, 10-15% of your active hires will qualify.

These credits are money back to you - don't delay!  If you need help, we can do it all for you for 20% of what you get back - its like buying dollar bills for $.20.

Call me - 908-262-7120 or email me at This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Ken BRice

President

EmployerIncentives.com

 

IRS Extends filing date to 9/29/16

The IRS is allowing companies who did not file on time for all their 2015 hires to do so, as long as the application is postmarked by 9/29/16.  That gives companies 3 additional months to ask their new hires from 1/1/15 through today to fill out the paperwork and send it in.  Its a relatively simple process that will generate big results if done properly.  We'd be happy to work with you and get this paperwork filed so you don't lose out on these tax credits.

 

Ken Brice

WOTC Extended through 12/31/19

In December, Congress authorized and the President signed the programs back into existance allowing companies to go back to 2015 and file for any emplyees they didn't file for in the past.

 

In additon, the Empowerment Zones are re-extended though 12/31/16.

 

Ken Brice