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Monday, February 19 2018 @ 12:52 AM AKST

Some employers still eligible for 2014 federal work tax credits

Alaska BusinessJUNEAU, Alaska—The Tax Increase Prevention Act of 2014 reauthorized employer Work Opportunity Tax Credits for 2014. The retroactive WOTC extension was part of a larger bill signed by President Obama on Dec. 19 that extended more than 50 tax provisions.

Alaska employers who hired certain workers in 2014–and filed for the credits within 28 days of hiring–may claim the tax credits. Employers who hired at the end of 2014 may still have time to file for the credits.

Employers could realize a tax savings between $1,200 and $9,600 for each eligible employee. In 2013, Alaska employers saved more than $2 million through the WOTC program.
Throughout 2014, the Alaska Department of Labor and Workforce Development encouraged employers to file for the tax credits, although they had not been reauthorized.

More information here: http://labor.alaska.gov/news/2015/news15-01.pdf

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