A few months back we shared with you here, that the Federal Government announced their renewal of the Work Opportunity Tax Credit Program. (WOTC) for 2015 through 2019 and that is really great news!
The renewal also included a temporary Transitional Relief period that allows you to go back and submit all employees you hired between January 1, 2015 and June 29, 2016 for tax credits that had been missed. This was a tremendous opportunity since there were millions of new hires that were not submitted for credit during that time period.
Recently the IRS announced a final extension to the Transitional Relief program and now you have until September 30, 2016 to make sure all your new hires are submitted for tax credits!
Nothing has changed with the program except you have an additional 90 days to submit your employees hired between 1/1/2015 and 9/30/2016 that worked 120 hours.
Although this might seem like a daunting task, we have systems prepared that help us handle the heavy lifting for you.
If you’re wondering if the reward is worth the effort; the companies we help see an average increase of $65,000 in tax credits. (Some as high as $300,000)
There’s only one catch! We Must get all of your 2015 new hires submitted ASAP!
Procrastinating will lead to missed credits or having your credits delayed by several months because of your State’s potential backlog. To find out just how easily we can help you take full advantage of this opportunity, reach out to us here. We will show you how we can handle all the legwork for you, but we need to get started soon because time is running out.
Don’t miss this opportunity and over-pay your 2015/2016 taxes!