TAX TIPS: If you want credit, act quickly
A deadline is fast approaching for employers to take advantage of a tax credit that was scheduled to expire at the end of 2013 but was extended retroactively late last year.
In a tough job market, disadvantaged people can find it even more difficult to find work than most. To encourage employers to hire these workers, a tax credit has been available since 1996.
The Work Opportunity Tax Credit is a tax credit available to employers who hire individuals who are members of certain designated target groups, generally economically or physically disadvantaged people and qualified veterans.
Although the Work Opportunity Tax Credit expired at the end of 2013, last year's tax extenders legislation retroactively provided the credit for employees who began work before Jan. 1, 2015.
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