Introduction Efficient HR management is at the core of every successful business. However, the tools and processes you choose to manage HR functions can significantly impact time and costs. With the rapid rise of automated HR software, businesses in the U.S. now have the option to automate their HR tasks. This blog explores the differences […]
HR Software vs. Manual Processes: Which One Saves More Time & Costs? Read More »
Introduction Managing the Work Opportunity Tax Credit (WOTC) manually can lead to a significant drain on business resources. WOTC offers businesses valuable tax savings, but if it’s managed without the aid of HR automation, the process becomes inefficient and costly. This blog explores the hidden costs associated with manual WOTC management and how HR solutions
The Hidden Costs of Manual WOTC Management & How HR Automation Saves the Way Read More »
The Evolving Role of HR Software in America In today’s fast-paced business environment, managing a workforce in America requires much more than manual processes and outdated HR methods. With growing employee expectations, increasingly complex regulations, and the demand for real-time data, workforce management has become a challenging task. Enter automated HR software is a technology-driven
Why Automated HR Software is Essential for Workforce Management in America? Read More »
Introduction Tax credits are an essential financial incentive for businesses, helping to reduce tax liabilities and boost profitability. One of the most valuable incentives is the Work Opportunity Tax Credit (WOTC), designed to encourage businesses to hire individuals from underrepresented groups. However, managing tax credits manually can be a time-consuming and error-prone process. With integrated
How to Optimize Tax Credits with Integrated Payroll Solutions? Read More »
Finding qualified employees can be a struggle in today’s competitive job market. But what if there was a program that incentivized you to hire talented individuals and offered tax breaks to sweeten the deal? Enter the Work Opportunity Tax Credit (WOTC) program. This federal program isn’t just about saving businesses money; it’s about creating opportunities
WOTC Explained: How Businesses Can Get Tax Credits for Hiring Veterans & More Read More »
Could WOTC 3.0 be on the horizon?
Since the inception of WOTC back in 1996, the program has gone through several modifications; all geared toward promoting the hiring of individuals that face barriers to secure employment. For instance, what we refer to as the 2.0 version of the program went into effect several years ago. At the time, the most significant enhancement to the program was the long-awaited acceptance of an electronic signature for the time-sensitive Form 8850.
WOTC 3.0 — Coming Soon? Read More »
New Stimulus Bill in the Works
Senate Republicans just unveiled the initial draft of a trillion dollar stimulus bill. While the bill will require negotiation with Senate Democrats and is expected to undergo significant modification, there are several components that are positive, particularly for employers. Therefore, we want to share what we know about the bill so far and give you an idea of where things seem to be headed.
New WOTC Target Group
Legislative Update – July 29, 2020 Read More »
Will WOTC get renewed?
As we enter the elections and remaining part of Q4, many companies are wondering about the status of the Work Opportunity Tax Credit (WOTC) and its renewal. For those who may not know, the current WOTC program is set to expire on December 31, 2020, and unless congress passes legislation, the program will enter into a state of hiatus.
Legislative Update October 28, 2020 Read More »
On September 27, the Republicans revealed the framework of what they hope to accomplish with tax reform. Herein is a general overview of their plan and the impact we believe it can have on the Work Opportunity Tax Credit (WOTC). Considering the proposed reduction in the corporate tax rate from 35% to 20%, deductions and credits are not necessary to the same degree that they were in the past. Under the Republicans’ framework, two popular credits are explicitly referenced to be continued:
Update on Tax Reform and its potential effect on WOTC Read More »
IRS Issues Notice to Extend WOTC Form Filing Deadline
On April 9, IRS issued Notice 2020-23 to provide relief relating to certain deadlines for taxpayers in response to the COVID-19 national emergency, declared in March of this year. Under the notice, a “time-sensitive act” due to be performed on or after April 1, 2020 and before July 15,2020 can be performed by July 15, 2020.
IRS Extends WOTC Form Filing Deadline Read More »
