The Future Of WOTC
By admin • 07 January 2015 • Uncategorized
While Election Day is clearly behind us, our immediate attention has shifted to protecting current hiring tax incentives that secured over 50 million dollars in tax savings for our clients last year.
Today is critical. We are writing to ask you to contact your Member of Congress (Congressperson) by email and phone (202-224-3121) about extending the Work Opportunity Tax Credit (WOTC) and making it a permanent part of the Internal Revenue Tax Code. Failure to pass the extenders will add to business uncertainty, raise taxes on job creation and discourage much-needed investment in our economy.
Congress needs to act quickly to extend WOTC. Targeted hiring tax incentives have been part of the tax code since the early 1970s, and have provided employment for more than 5,800,000 people since 1996. This is your opportunity to remind Congress that WOTC is particularly critical for hiring veterans (under the Returning Heroes Tax Credit and Wounded Warriors Tax Credit), vocational rehabilitation referral, summer youth employee, ex-felons, and Supplemental Security Income (SSI) recipients.
Reauthorizing WOTC would create jobs and help to offset the hiring costs of recruiting as it offers valuable incentives and rewards for retention. Bipartisan support exists for WOTC because Congress recognized that training and hiring workers had exceeded the return on investment. Let your Member of Congress know how helpful WOTC has been to defray the costs to your business while it removed barriers to American workers reentering the job market.
We have included sample letters for you to customize and send to your Representatives in Congress. If you would like TaxBreak to send a letter on your behalf, please provide your letterhead and a signature block so we can fax the letter to your representatives.
Please continue to process your new hires as usual in order to avoid missing out on the credits due your company. The 28 day from start date requirement is still required in order for your applications to be certified once WOTC has been extended.
We are committed to keeping you informed and will update you as new information is made available. If you would like to get involved in our effort to extend WOTC, contact Shannon Scott at firstname.lastname@example.org