The IRS has released a new notice with guidance on the American Taxpayer Relief Act, and gives employers extra time to file a form to qualify for the Work Opportunity Tax Credit.

When the American Taxpayer Relief Act of 2012 was enacted the WOTC credit was retroactively extended for 2012 through 2013 for taxable employers hiring individuals in targeted groups and for qualified tax-exempt organizations hiring qualified veterans.

Details and criteria for WOTC can be found here: http://www.whitlockco.com/2011/09/work-opportunity-tax-credits/

As an employer, you have the opportunity to file Form 8850 retroactively for new hires that are members of the targeted groups. It may be advantageous for you to evaluate individuals hired in the applicable time frame to determine if individuals meet the criteria to be eligible for the WOTC.

More details from this article at Accounting Today:
http://www.accountingtoday.com/news/Notice-Extends-WOTC-Deadline-65999-1.html

Read the official notice from the IRS:
http://www.irs.gov/pub/irs-drop/n-12-13.pdf

Contact us if you have any questions about the WOTC 417-881-0145.