One-Time Retroactive Opportunity
The PATH Act recently extended the WOTC to December 31, 2019. The Act also allowed companies to retroactively obtain the credit for all new hires between the period of January 1, 2015 – August 31, 2016. In order to meet the qualifications necessary to obtain the credits, all completed paperwork needs to be received by September 28, 2016. For those companies that have not taken advantage of the WOTC in the past, this is a “small” window of opportunity to obtain a significant tax credit for your new hires that are within the targeted groups and have been hired since January 1, 2015.