4Thought Blog

4thought graphic - blog 2020

McDonald's Owner/Operators Granted More Time to Use Work Opportunity Tax Credit

Posted by Tony Bragano on Fri, Mar 11, 2016

Find me on:


notebook_-_wotc_6-29-16-200px.jpgGreat news for McDonald’s Owner/Operators on the Work Opportunity Tax Credit home front.

For those of you that have not been taking full advantage of the WOTC program, relief is on the way.

On Monday, the IRS issued transition relief rules. The transition relief rules will allow you to go all the way back to January 1, 2015 to certify employees for the credit.

What does this mean?

  • If you were not taking advantage of the program you still have time to.
  • If you were taking advantage of the program, but did not start at the beginning of 2015, you can take advantage of the transition relief rules and go back and get certificates on any eligible employee.

 

The news even gets better. If you have not started a WOTC program yet this year, the transition relief rules will allow you to go back to January 1, 2016 and certify any eligible 2016 hires.

Time is important, however. You only have until June 29, 2016 to take advantage of the transition relief rules.

Everyone can use some additional cash, so don't leave free money on the table.

Attached is an article we sent out several weeks ago the Work Opportunity Tax Credit. This article explains the benefits for McDonald’s Owner/Operators in more detail.

Please contact us with any questions at info@concannonmiller.com or 888-433-1515. We are here to help.

Topics: McDonald's management

Concannon Miller’s unique, holistic and intimate approach to financial health sets us apart from smaller CPA firms with more limited resources as well as mega firms where mid-sized clients struggle for attention. Contact us here to talk about improving your business.

This communication is designed to provide accurate and authoritative information in regard to the subject matter covered at the time it was published. However, the general information herein is not intended to be nor should it be treated as tax, legal, or accounting advice. Additional issues could exist that would affect the tax treatment of a specific transaction and, therefore, taxpayers should seek advice from an independent tax advisor based on their particular circumstances before acting on any information presented. This information is not intended to be nor can it be used by any taxpayer for the purposes of avoiding tax penalties.

Subscribe for more Timely Tips for Businesses

Recent Posts