Work Opportunity Tax Credit and Empowerment Zones Extended through 2020
On December 20, 2019, the Further Consolidated Appropriations Act was signed into law by President Trump. Included in this newly enacted legislation are “Tax Extenders” which include valuable provisions for employers. These provisions include the following:
• Work Opportunity Tax Credit (WOTC): Extended through December 31, 2020
• Federal Empowerment Zone Tax Credit: Retroactively extended for 2018, 2019, and 2020
• Employee Retention Tax Credit: Enacted for specified disaster areas designated and determined by the federal government, including places of business impacted by Hurricane Michael, Hurricane Florence, and the 2018 wildfires in California
• Indian Employment Credit: Renewed through 2020
• WOTC Funding for Fiscal Year 2020 increased by 2.5 million dollars
Please reach out to Josh Emerick, Director of Onboarding, at 941-907-4520 or email at jemerick@ceopeo.com with any questions regarding these tax provisions and how your business can save money through our WOTC tracking services.
