Qualified Opportunity Zone Credits

In 2017 Congress created a new tax incentive for investment into Qualified Opportunity Zones (QOZ), as part of the Tax Cuts and Jobs Act. You might be familiar with the older zone programs which were the Renewal Communities and Empowerment Zones which lapsed into non-authorized status on January 1, 2018. These new zones, given the nick-name “QOZ”,  were […]

Work Opportunity: A Path Towards Permanency

David Burgess, VP of Government Relations Momentum is building in Congress to make WOTC permanent. WOTC was created in 1996 as part of the welfare reform act to aid people making the transition from welfare to work. Since that time it has been reauthorized numerous times, although occasionally it has gone into haitus for a […]

5 Things You May Not Know About Tax Credits But Should…

Are you entitled to tax credits that you are not using? Or perhaps you are not even sure whether you qualify. Some people think that tax credits are designed to benefit only major corporations, but if that’s what you’ve been told, here are 5 points about tax credits for your consideration.   1. Tax credits […]

Enactment of Tax Cuts and Jobs Act Preserves the Work Opportunity Tax Credit (WOTC)

David Burgess, Government Relations Beginning with the 2018 tax year, companies will enjoy enhanced WOTC benefits; the future of the Empowerment Zone and Indian Employment Credits Remains Uncertain…   On December 22nd President Trump signed the Tax Cuts and Jobs Act, after a long and arduous legislative process in the House and Senate. The first […]

Tax Credit Potential Savings

Tax Credit Potential Savings The WOTC Program The work opportunity tax credit program (WOTC) was developed as a partnership between the U.S. Department of Labor and the IRS. WOTC provides employers an opportunity to earn tax credits for hiring individuals from federally recognized target groups that typically have high unemployment rates. Earned tax credits are […]

Legislative Update: Tax Reform & WOTC

Tax Reform: What does it mean for the Work Opportunity Tax Credit? by David Burgess Last month the House of Representatives passed H.R. Bill 1, or the Tax Cut and Jobs Act.  Last week the Senate passed its own version.  Both bills bring the corporate tax rate down to 20% but they use different means […]

Unified Framework for Fixing Our Broken Tax Code

The “Unified Framework for Fixing Our Broken Tax Code” was released today (click here to read). While the proposal provides a broad outline of what the White House and Congressional leaders are aiming for with tax reform, there is nothing specific in the package regarding WOTC. Important for Mckenzie Chase clients is the proposal says, […]


CONGRESS TO TAKE UP TAX REFORM IN SEPTEMBER WOTC MAY BE POISED TO BECOME PERMANENT With the Senate appearing to table Healthcare reform for the foreseeable future, Congress is now preparing to move on to tax reform as the next item on their agenda. Negotiators for the Administration and Congressional Republicans appear to be reaching […]