09/21/2022 – IRS updates WOTC guidance

09/21/2022 – IRS updates WOTC guidance: Contents

IRS updates WOTC guidance

The Internal Revenue Service published updated information about the Work Opportunity Tax Credit to help employers deal with a tight labor market.

The updates, posted Monday by the IRS, include information on the pre-screening and certification process. To satisfy the requirement to pre-screen a job applicant, on or before the day a job offer is made, a pre-screening notice (Form 8850, Pre-Screening Notice and Certification Request for the Work Opportunity Credit) must be completed by the job applicant and the employer.   An earlier version of the tax breaks, the Targeted Jobs Tax Credit, did not contain a pre-screening requirement.

Click here to read the article:  https://www.accountingtoday.com/news/irs-updates-work-opportunity-tax-credit-wotc-guidance

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