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CPAsNET Firm Of The Month

May 2015

Businesses and tax-exempt organizations planning to claim the work opportunity tax credit (WOTC) for eligible workers hired during 2014 have until April 30 to request the certification required for these workers.

Newly revised Form 8850 is used by employers to request certification from their state workforce agency. The Tax Increase Prevention Act, enacted Dec. 19, 2014, retroactively extended this credit for one year through the end of 2014.

The work opportunity tax credit offers tax savings to businesses that hired workers who meet various eligibility criteria...

CPAsNET.com
P.O. Box 7648 solutions@cpasnet.com phone: 609-890-0800
Princeton, NJ 08543 May 25, 2015 fax: 609-689-9720