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WOTC Program Reauthorized and Extended Through 2025

Trusaic

Earlier this year the federal Work Opportunity Tax Credit (WOTC) program was extended through December 31, 2025. . Department of Labor (DOL), for the fiscal year 2021, state workforce agencies “received $18,485,000 to support the administration of WOTC, which includes certification process and reporting data on a quarterly basis.”

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WOTC Could See New Military Spouse Target Group

Trusaic

A proposed bill aimed at introducing a new Work Opportunity Tax Credit (WOTC) target group is currently working its way through the legislature. HR 2974 , known more commonly as the Military Spouse Hiring Act would amend WOTC to include military spouses as an eligible target group. military group. . Armed Forces. .

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HR Competencies for 2025 – A Future Standard

Digital HR Tech

In this article, we introduce a new HR competency framework for 2025, which we believe will become the new standard for HR. Subsequently, we have defined four critical capabilities that any HR professional needs to perform well in their role in 2025. The T-shaped HR professional.

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Empower A Diverse Workforce With The Work Opportunity Tax Credit Program

Trusaic

It just so happens that many of the individuals who belong to the eligible target groups reside in diverse, ethnic areas of the country. For example, one target group includes individuals who live in federal empowerment zones, which are often located in low-income places heavily concentrated by minorities.

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IRS Releases WOTC Transition Relief for Select Employers

Trusaic

IRS Notice 2021-43 extends the typical 28-day time frame for submitting a certification request to a designated State Workforce Agency (SWA). In addition, the IRS notice addresses the fact that many employers may have received denial letters regarding certifications during this time and as result is providing transition relief.

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Work Opportunity Tax Credit Program Extended Until 2025

Zenefits

Did you know that you can receive a federal tax credit by hiring people from certain marginalized groups? This credit is known as the Work Opportunity Tax Credit ( WOTC ), which is available through 2025. contains a provision that extends the WOTC program through December 31, 2025. WOTC target groups. WOTC background.

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DOL’s New Rules for 401(k)s and Group Health Plans: What Brokers and Their Clients Should Know

Extensis

Regulatory Agenda, the DOL has made notable changes to the Employee Retirement Income Security Act of 1974 (ERISA), as well as group health plans. This stipulation takes effect starting January 1, 2025, unless the employee chooses to opt out. Here’s a look at what employers can expect and how brokers can help to ease the transition.