Work Opportunity Tax Credit Extended

A long-term extension of the Work Opportunity Tax Credit was signed into law on December 18, 2015 as part of a larger spending bill. In the past several years, Congress would extend the tax credits retroactively to the prior year. Now there is much more certainty for employers moving forward as they try to secure these credits and get target groups like US Veterans and the long-term unemployed working.
 
The new law extends the Work Opportunity Tax Credit through 2019, and retroactively for 2015, giving employers an opportunity to get tax relief for 2015 hires, and through the remainder of the decade.
 
There are nine target groups eligible for work opportunity tax credits, including a new group: the long term unemployed.

Eligible hired employees return roughly $2000 in tax credits on average!
 
To learn more about how you can take advantage and reduce your tax payments, click here.