An employer tax break has been extended. The work opportunity tax credit or hiring economically challenged employees will be available throughout 2020.
This credit is for employers who hire qualified veterans, ex-felons, certain youth, the long-term unemployed and other categories of workers who face key barriers to employment.
Employers must submit Form 8850 to the state agency within 28 days of the employee starting work to certify that the hiring is eligible for the credit. Employers use Form 5884 to figure the credit and transfer the amount to Form 3800.