Recovery Rebate Information
Recovery Rebate Information Recovery rebate. Economic impact payment. Stimulus check. No matter what they call it, your clients are asking you questions about the advance of a 2020 credit that…
November 8th, 2021
When traveling from our beautiful campus here in Urbana Illinois to my local abode, I’ve come to notice people camped out along Interstate 74 and Champaign/Urbana overpasses.
Yesterday, I remarked to myself that I should offer to pick these people up and take them over to the employment office at our local Federal Express terminal. They are constantly looking for workers and I felt I could follow Ronald Reagan’s advice that the best social program he ever knew to be created was a job. But being me, not only would I take the homeless persons to the employers, but I would also have stopped in the employment office to educate the company as to why they might consider the benefits of hiring some of these unfortunate souls (at least from my perspective of being a tax person). Please don’t comment on my lack of social understanding; there must be some trauma that has caused a person or family to be forced to ask for help while standing on a highway overpass.
It provides employers with credits to encourage the hiring of targeted potential employee groups. Beyond the personal issues which may have caused the circumstances impacting the people on the overpass, I’ve come to also understand employers can receive the WOTC credit for unemployed persons. That group is intriguing to me and hopefully that phrase has your attention to read on.
Let’s talk for a moment about the unemployed who qualify for the WOTC. This is the targeted group I’m most interested in mentioning given the workforce shortage and the increased need for employees at this time of the year. The IRS describes these persons as “Qualified Long-Term Unemployment Recipients.”
Pretty broad definition, isn’t it?
The short answer is ‘yes’ but you will notice with most of these credits, the theme is that you can’t use the same wages for the same period for multiple credits at the same time.
Perhaps you can be a hero to your employers who will gain much-needed employees and receive assistance in bringing them on board.
Well, back to the people on the overpass. Alas, in the final analysis, I did nothing, and the same destitute people were on the overpass again this morning. Maybe I should stop talking and put some of my good ideas into action. The best social program might be a job, but it should start with offering a hand up.
By Tom O’Saben, EA
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