Work Opportunity Tax Credit

25 05 2016

The Work Opportunity Tax Credit (WOTC) is available for wages paid by employers who hire individuals from certain targeted groups of hard-to-employ individuals. The targeted groups are:

  1. Qualified members of the families receiving assistance under the Temporary Assistance for Needy Families (TANF) program,
  2. Qualified veterans,
  3. Qualified ex-felons,
  4. Designated community residents,
  5. Vocational rehabilitation referrals,
  6. Qualified summer youth employees,
  7. Qualified members of families in the Supplemental Nutritional Assistance Program (SNAP),
  8. Qualified Supplemental Security Income recipients,
  9. Long-term family assistance recipients, and
  10. Beginning January 1, 2016, long-term unemployed individuals.

An employer must obtain certification that an individual is a member of a targeted group before the employer may claim the credit. An eligible employer must file IRS Form 8850 along with ETA Form 9061 with their respective state workforce agency within 28 days after the eligible worker begins work.

For each group listed above, there are specific criteria that must be met in order to be certified as a member of that targeted group. The second page of the instructions to Form 8850 include these criteria. https://www.irs.gov/pub/irs-pdf/i8850.pdf

Recently enacted legislation extends the time for employers to submit these forms for various targeted groups who began working during various time periods as follows:

  1. An employer who hired or hires a member of a targeted group other than qualified long-term unemployment recipients (groups 1 through 9 above) and who began or begins work between January 1, 2015 and May 31, 2016 has until June 29, 2016 to file Form 8850 with their state workforce agency.
  2. An employer who hired or hires an individual who is a long-term unemployment recipient (group 10 above) who began or begins work between January 1, 2016 and May 31, 2016 has until June 29, 2016 to file Form 8850 with their state workforce agency.
  3. An employer who hires a member of any of the targeted groups who begins work after June 1, 2016 is not eligible for the transition relief and must file Form 8850 with their state workforce agency within 28 days after the eligible worker begins work.

 

If you have any questions concerning the WOTC, or if you feel that you may have an employee who qualifies for the credit especially during the transition relief period, we encourage you to give us a call.





Holiday Schedule

25 11 2015

The Holiday Season is quickly approaching.  RBSK Partners’ offices will be closed as follows:

Thanksgiving – Thursday, November 26th; Friday, November 27th.

Christmas – Thursday, December 24th; Friday, December 25th.

New Year – Noon on Thursday, December 31st; Friday, January 1st

RBSK Partners would like to wish everyone a Merry Christmas and Happy New Year!

holiday





Press Release – Barbara Bohman, CPA Passes CPP Exam

13 10 2015

RBSK Partners PC is pleased to announce that Barbara Bohman, CPA has passed the certification exam earning the title of Certified Payroll Professional (CPP).

The Certified Payroll Professional (CPP) designation is an exam-based payroll certification attained by individuals who possess a high level of professional competency through both the acquisition of knowledge and direct payroll experience.  A CPP candidate must verify employment in the payroll profession preceding the exam date. The CPP designation indicates that an individual has the experience and skills necessary to provide strategic payroll management and support to facilitate a company’s overall business goals.  The CPP Examination is voluntary, and certification is conferred by the APA Certification Board’s CPP Committee.

RBSK Payroll is a division of RBSK Partners PC with offices in Greensburg, Batesville, North Vernon and Brookville. RBSK Payroll serves the tri-state area and was recently created to provide a more focused approach to payroll and to offer other ancillary services such as time clock integration, employee self service portals, background checks, pay cards and more.

Barb is a Decatur County native with a Bachelor of Science in Finance from Indiana University. She has over 25 years of experience in tax preparation, bookkeeping and payroll. Barb is a key member of the RBSK Payroll team working with many of our bookkeeping/payroll clients. Barb and her husband Lee reside in Greensburg where they raised their two sons.

Barb 2013

Barbara Bohman, CPA, CPP