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Topic: Tax Alert

Tax Alert: IRS Delays Deadline for Providing 1095s to Employees

The Internal Revenue Service (IRS) released guidance in the form of Notice 2018-94 allowing employers more time to provide Forms 1095-B and 1095-C to applicable individuals. Employers now have until March 4, 2019 to furnish forms to employees. Despite the additional time, the IRS encourages employers to furnish 2018 statements as soon as they are […]

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Tax Alert: New Relief Bill for Hurricane Florence, Hurricane Michael, and the California Wildfires

A bill to provide tax relief for the victims of Hurricane Florence, Hurricane Michael, and certain California wildfires was introduced in the current lame duck session of the 115th Congress. This bill expands upon the previously presented Hurricane Florence Tax Relief Act bill to address the additional recent natural disasters, and signals the importance of […]

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Tax Alert: New Bill Proposes IEC Permanency

Congresswoman Kristi Noem (R-SD) recently introduced the Tribal Tax Empowerment and Jobs Act of 2018 (HR-7000), meant to provide for increased economic opportunities for Native American tribes. Section 5 of the bill proposes making the Indian Employment Credit permanent. The Indian Employment Credit provides businesses with an incentive to hire enrolled members, or the spouse […]

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Tax Alert: Hurricane-Related Filing Extensions

As we communicated in a recent Alert, we are constantly monitoring all potential disaster-related tax relief, such as the Hurricane Florence Employee Retention Tax Credit recently proposed in House Bill 6854, and although that credit is still just potential and has not been finalized, the IRS has announced extensions on filing deadlines for victims of […]

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Tax Alert: Potential New Credit for Employers Impacted by Hurricane Florence

The Hurricane Florence Tax Relief Act was recently proposed via House Bill 6854. If passed, this Bill would create a tax credit for businesses located in the Hurricane Florence Disaster Zone that experienced inoperability as a result of the storm. The potential credit would be 40% of up to $6,000 in wages paid to employees […]

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Tax Alert: Nevada WOTC Processing Improvements

The state of Nevada, which currently has the largest backlog of unprocessed Forms 8850, is automating their Work Opportunity Tax Credit processing system. This improvement will greatly improve the speed it takes to verify records necessary to qualify for certain categories of WOTC eligible populations.   This improvement, via a new software platform, is meant […]

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Tax Alert: California Hiring Credit Passes Committee Vote

As you know, First Advantage, in conjunction with the National Employment Opportunity Network (NEON), government relations, and lobbying experts, has been working on securing a California Work Opportunity Tax Credit program. We are pleased to report that on August 8th, AB-916, the bill proposing the state WOTC program, was passed by bipartisan unanimous 7-0 vote […]

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Tax Alert: WOTC Expansion Bill Proposed

  Congresswoman Jacky Rosen (D-NV) recently introduced the Hire Student Veterans Act (HR-6392), meant to encourage the employment of student veterans. The bill would expand the Work Opportunity Tax Credit (WOTC) program by adding a target group for student veterans receiving GI benefits. If passed, employers that hire qualified student veterans may be eligible for […]

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