For Immediate Release: March 18, 2013
Contact: Kerry Koonce
Telephone: (515) 281-9646 or (515) 681-2230
Transition Relief for Claiming WOTC
Des Moines, Iowa – On March 8, 2013, the IRS released an advance copy of Notice 2013-14, providing more time for employers to complete the process to claim the Work Opportunity Tax Credit (WOTC) for qualified veterans hired in the first quarter of 2013 and other eligible employees hired in calendar year 2012 or the first quarter of 2013.
The WOTC was extended through December 31, 2013, by the American Taxpayer Relief Act of 2012 that was enacted on January 2, 2013.
Notice 2013-14 provides additional time — until April 29, 2013 — for employers and tax-exempt organizations that hire such persons who are members of targeted groups to submit a request for certification on Form 8850, Pre-Screening Notice and Certification Request for the Work Opportunity Credit, to Iowa Workforce Development.
The American Taxpayer Relief Act of 2012 extends the WOTC for targeted employees who begin work through December 31, 2013 for taxable employers hiring individuals in any targeted group, except the temporary WOTC targeted groups identified in 2009 and 2010 as “disconnected youth” and “unemployed veterans”. These two “temporary targeted groups” expired in December 2010. Iowa Workforce Development is no longer accepting Form 8850, Pre-Screening Notice and Certification Requests for WOTC for these two groups.
Iowa Workforce Development Director, Teresa Wahlert, encourages all of Iowa’s employers to consider the benefits of the Work Opportunity Tax Credit (WOTC) when hiring individuals in any of the targeted groups, including qualified veterans. Tax-exempt organizations may also qualify for the tax credit when hiring qualified veterans.
For more information on how to claim the Work Opportunity Tax Credit (WOTC), contact Leslie Schmalzried, Iowa State WOTC Coordinator at Leslie.Schmalzried@iwd.iowa.gov or visit Iowa Workforce Development’s website, www.iowaworkforce.org.