Posts Tagged ‘IRS’
IRS Issues Hurricane Ida WOTC Tax Relief in 5 States
In light of Hurricane Ida, the IRS has provided tax relief to employers in FEMA-declared disaster areas including the entire state of Louisiana, and certain areas in Mississippi, New Jersey, New York, and Pennsylvania. The IRS tax relief extends the 28-day deadline for submitting Work Opportunity Tax Credit (WOTC) certifications in the aforementioned locations. In…
Read More[UPDATE] What Employers Need to Know About the Employee Retention Credit
3 minute read: The latest IRS Notice 2021-23 provides additional rules on the Employee Retention Credit (ERC) with respect to quarter one and quarter two of the 2021 tax year. The new notice supplements IRS Notice 2021-20 and clarifies that under Section 207 of the Taxpayer Certainty and Disaster Tax Relief Act of 2020, the…
Read MoreIRS Issues WOTC Directive on When to Apply a Certification
The IRS issued a directive that should make it easier for employers administering the Work Opportunity Tax Credit (WOTC) program to receive tax credits in the year employer certifications are issued. The issuance of WOTC certifications by State Workforce Agencies is often delayed and employers sometimes don’t receive them until the following year. This process…
Read MoreEmployers Should Continue with the Work Opportunity Tax Credit Despite Hiatus
On a number of occasions, the Work-Opportunity Tax Credit (WOTC) has gone into hiatus, however, that doesn’t mean employers should stop their WOTC processes. Again and again, the program has returned shortly after going into hiatus. Since the WOTC program was first implemented in 1996, it has gone into hiatus seven different times, only to…
Read MoreOFCCP Issues Contract Requirement Exemptions in Light of Hurricane Devastation
The U.S. Department of Labor’s (DOL) Office of Federal Contract Compliance Programs (OFCCP) has issued temporary contracting requirement exemptions for new contracts in light of Hurricanes Michael and Florence. The exemptions state that new federal contracts will be exempt from having to develop written affirmative action programs under Executive Order 11246; The Vietnam Era Veterans…
Read MoreEEO-1 Reporting Complications Creates ACA Reporting Efficiencies
At first glance, it’s a nice reprieve that EEO-1 reports for the 2017 tax year have been postponed. Reports were slated for a September 30, 2017 due date for all employment data from July, August, and September pay periods. The new deadline to file EEO-1 reports is March 31, 2018, albeit with more complexities. Gone…
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