Work Opportunity Tax Credit Requires Action Now!

A Project of The National Employment Opportunity Network

 


Recent Updates on WOTC

2020 UPDATES

December

Congress Extends WOTC for five years through 2025:

> Extends the Empowerment Zone hiring incentive through 2025;

> Extends the Indian Employment Credit though 2021;

> Extends and enhances the Employee Retention Credit for six months through June 30, 2021;

> Extends Disaster Relief from January 1, 2020 through February 20, 2021;

Provides $23,318,000 for the Department of Labor and states to administer WOTC, reduce processing back, training and modernization of processing.

March

Congress enacts an employee retention tax credit in response to COVID-19 lasting from March 12, 2020 until December 31, 2020.



2019 UPDATES

Congress Passes a One-Year Extension of WOTC Through December 31, 2020:

> Extends the Indian Employment Credit from January 1, 2018 through December 31, 2020;

> Extends the Empowerment Zone hiring incentive from January 1, 2018 through December 31, 2020;

> Enacts a disaster relief retention credit from January 1, 2018 through December 31, 2020;

> Increases WOTC funding for Fiscal Year 2020 by $2.5 Million.


What's New

Dr. Peter Cappelli's Podcast

Dr. Peter Cappelli, Professor at the Wharton School of Business, has produced a podcast on the Work Opportunity Tax Credit (WOTC). Throughout the podcast, which runs about 14 minutes, Dr. Cappelli discusses the continued benefits and cost-effectiveness of the program. Click here.

To see all of Dr. Cappelli's studies, click here.