As part of the Protecting Americans from Tax Hikes (PATH) Act signed into law on Friday, December 18, 2015, the Work Opportunity Tax Credit (WOTC) has been renewed retroactively for the 2015 calendar year and extended for four additional years through 2019.
In addition to extending WOTC through 2019, a new target group has been added to the program: Qualified Long-Term Unemployment Recipient. It includes any individual who is certified by the designated local agency as being in a period of unemployment which is not less than 27 consecutive weeks and includes a period in which the individual was receiving unemployment compensation under State or Federal law. The credit will be up to 40% of the qualified employee’s first-year wages up to $6,000 ($2,400 credit). It will apply to individuals hired on or after 1/1/2016 through 2019.
If you have any questions about WOTC, please contact Stacey May, director of tax credits, at 888.556.0123 or at firstname.lastname@example.org.