The IRS reminds employers that in order to claim the work opportunity credit for hiring someone within a targeted group (there are 10), they must submit Form 8850 (Form 8850 (Rev. March 2016) (irs.gov)) to their state workforce agency within 28 days after the employee begins work. Best practice: after pre-screening job applicant, have the person complete the form. The IRS has more information about the credit. #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
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ICYMI: What's in the "One Big, Beautiful Bill" for Small Business? Barbara Weltman @BigIdeas4SB digs into the House-passed bill and reviews key tax-related provisions. The Senate is now acting on the bill, which will likely include some changes. More: