The IRS recently extended Work Opportunity Tax Credit transition relief, allowing for more time for McDonald’s Owner/Operators to use this advantageous tax benefit.
Employers now have until Sept. 28, 2016 to certify WOTC-qualifying employees all the way back to Jan. 1, 2015. The deadline was originally going to be June 29, 2016.
This is great news for McDonald’s Owner/Operators. This transition extension allows you to still seek Work Opportunity Tax Credits for all your 2015 and 2016 qualifying employees.
Qualifying employees include veterans, long-term or short-term TANF recipients, food stamp recipients, employees living in empowerment zones, the long-term unemployed and ex-felons, among others.
The maximum credits range from $2,400 for the general target groups all the way to $10,000 for certain qualified veterans and Welfare-to-Work employees. Your payroll/tax credit provider can apply for the credit for you and will only charge you based on a percentage of the credits that you actually receive.
Check out this article for more on Work Opportunity Tax Credits or contact us with any questions at firstname.lastname@example.org or 888-433-1515.