Self Made: NASE's Blog

Welcome to the Self Made. This is a blog focused primarily on the self-employed and micro-business and full of fantastic posts by not only our team of experts but by YOU!  We realize that there are many ways to help the small businesses out there which is why we invite other business minded individuals to post here and help the rest of the community as well.

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Guidance on Expanded Tax Credit [IRS News]

Jun 02, 2009

Posted by Molly Nelson - As part of February's American Reinvestment and Recovery Act, eligibility for the work opportunity tax credit (WOTC) was expanded to unemployed veterans and unskilled younger workers.  The WOTC offers tax savings to businesses that hire workers belonging to any of 12 targeted groups, including unemployed veterans and unskilled younger workers.

Have you hired someone between January 1st, 2009 and July 17th, 2009 that qualifies you for the credit?  Make sure you submit Form 8850 before August 17th to request the required certification for these workers!

For more information, details and guidance, check out IRS.gov.

Courtesy of NASE.org
https://www.nase.org/about-us/self-made-nase-blog/self-made/2009/06/02/Guidance_on_Expanded_Tax_Credit_IRS_News