WOTC Webinar: What’s new with the Work Opportunity Tax Credit?

CMS would like to invite you to join our resident Human Resources and Tax Credit Expert,  Brian Kelly, to find out what's new with the Work Opportunity Tax Credits. Brian will review the following, and answer any questions you may have about this extremely valuable tax credit.

• What’s new with the Work Opportunity Tax Credit? 
• What are the facts? 
• Which employees are eligible?
• How much can we save? 
• What does CMS WOTC do for me? 
• What does it take to get started?

WOTC for For-Profit Companies   

Starting Wednesday, August 29^th at 12:00 EST

WOTC for Non-Profit Companies

Starting Wednesday, August 29^th at 1:30 EST

To sign up for either session please click here, or call CMS at 1-800-517-9099 today.

About CMS

CMS helps companies of all sizes save money by taking advantage of the Work Opportunity Tax Credit. Call Brian Kelly at 1-800-517-9099 today to see if it makes sense for you.

IRS Gives Guidance On Veterans Tax Credit

The Internal Revenue Service has provided new guidance and forms that employers can use to claim the newly-expanded tax credit for hiring veterans.

The VOW to Hire Heroes Act of 2011, as enacted on November 21, 2011, expands the Work Opportunity Tax Credit ("WOTC") to businesses hiring eligible unemployed veterans. For the first time the bill also makes the credit available to qualified tax-exempt organizations.

Click here to continue reading IRS Gives Guidance on Veterans Tax Credit.

American Jobs Act

WASHINGTON – President Obama unveiled a surprisingly big $447 billion jobs package Thursday that's intended to spur business hiring and consumer spending in an economy that has sputtered almost to a halt.

Highlights include:

• Tax credits for businesses hiring new employees
• Tax credits for businesses hiring veterans
• Tax credits for businesses hiring the long term unemployed
• Reduction in payroll taxes

Continue reading at USA Today.

CMS Announces new iRecruit to support Enterprise Marketplace

Farmington, CT—July 14, 2011- Cost Management Services (www.cmshris.com), provider of employer based solutions, announced today that it has expanded the iRecruit product to support the Enterprise market space.

iRecruit is a cloud-based applicant tracking and recruiting software that boasts extremely robust integration with Sage Abra HRMS. As a cloud-based solution, iRecruit requires minimal IT support, does not require any server installation, which lets our customers get up and running very quickly.

“Expanding iRecruit to support the enterprise space,” said Brian Kelly, President of CMS, “Will enable us to work with larger companies who have more requirements when it comes to applicant tracking and recruiting.”

Some of the features of the new release, due on August 1, 2011 includes: Custom Career Center providing applicants with login credentials and two way communications with Recruiters and Hiring Managers, Pre-Screening Questions (OFCCP), Job Postings in XML format to feed Job Boards and iRecruit’s customized workflow making iRecruit powerful and easy to use.

For details about iRecruit, or to schedule a webinar presentation, please call Brian directly at 860-678-4401 or visit: www.irecruit-software.com



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About Cost Management Services
Cost Management Services (CMS – www.cmshris.com) has been providing employer based solutions, including web‐based recruiting solution – iRecruit (www.irecruit-software.com), Employment Tax Credit Services (www.cmswotc.com); and the Sage Abra HRMS human resource and payroll solutions. With over 25 years of experience our focus on quality professional services allows us to achieve our goal of complete client satisfaction. CMS utilizes proven technology, implementation methodologies, expertise, and one‐on‐one training to automate, streamline and integrate the complete workforce management process.

CMS Announces New Integration from iRecruit to Work Opportunity Tax Credit Services

CMS Announces New Integration from iRecruit to Work Opportunity Tax Credit Services

Farmington, CT—July 11, 2011- Cost Management Services (www.cmshris.com), provider of employer based solutions including work opportunity tax credit (“WOTC”) services, cloud-based recruiting software iRecruit and Sage Abra HRMS Software, announced today that it has expanded the iRecruit product to include greater integration to its WOTC processing services.

“The new integration feature,” said Brian Kelly, President of CMS, “Will allow iRecruit customers to take advantage of federal tax credit programs designed to initiate jobs.” The Integration between iRecruit and CMS’s WOTC service will allow our clients a great work flow solution.

“Clients who sign up for our WOTC services can save up to a maximum of $9,000.00 per new hire that qualify.” Said Brian Kelly, “Furthermore, based on our experience we know that between 10% and 15% of all your new hires qualify under one of the federal provisions to receive such a tax savings, such as Unemployed Veterans and Disconnected Youths.”

As a Service Provider CMS is also opening up their WOTC services to other Sage Business Partners.


For details about our WOTC services, please call Brian directly at 860-678-4401 or visit: www.cmswotc.com


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About Cost Management Services
Cost Management Services (CMS – www.cmshris.com) has been providing employer based solutions, including Employment Tax Credit Services (www.cmswotc.com); web‐based recruiting solution – iRecruit (www.irecruit-software.com) developed by CMS); and the Sage Abra HRMS human resource and payroll solutions. With over 25 years of experience our focus on quality professional services allows us to achieve our goal of complete client satisfaction. CMS utilizes proven technology, implementation methodologies, expertise, and one‐on‐one training to automate, streamline and integrate the complete workforce management process.

CMS Radio Ad Highlights Work Opportunity Tax Credit Services

CMS will be airing a new radio commercial on WTIC-AM beginning Monday morning on the Ray Dunaway show. The 15-second spot highlights our Work Opportunity Tax Credit Services. Preview the commercial below.



Under the WOTC program our clients are averaging $2,400.00 per qualified tax credit and we work with your companies HR department to streamline the filing process & maximize the savings.

Call CMS' Brian Kelly today at 1-800-517-9099 to find out if it makes sense for your company.

Click here to listen to WTIC-AM online.

New Senate Bill To Expand WOTC for Veterans

Senate Finance Committee Chairman Max Baucus (D-Mont.) and Senator Chuck Grassley (R-Iowa) announced last week that they have introduced legislation to create job opportunities for veterans returning home from war and help businesses create jobs.

This Veterans Employment Transition Act, or the VETs Jobs bill, would reward employers for hiring qualified veterans who have recently completed their service in the military with a tax credit of up to $2,400 per veteran.

A previous version of this credit, which was part of the Work Opportunity Tax Credit, was designed to help employers hire veterans, but expired at the end of 2010. The new legislation Baucus and Grassley are introducing today would reinstate the tax credit and make it easier for veterans and small businesses to use. As a result, servicemen and women who have been recently discharged will be able to provide documentation directly from the Department of Defense without having to go through the tax credit’s current certification process.

Read the press release here.

Save on New Hires in 2011 with the Work Opportunity Tax Credit

President Obama's New Hire Act expired on 12/31/2010, so public and private companies whom are looking for tax savings should now focus on taking advantage of the federal employment tax credits i.e. the Work Opportunity Tax Credit Program "WOTC".

Under the WOTC program our clients are averaging $2,400.00 per qualified tax credit and we work with your companies HR department to streamline the filing process & maximize the savings.

Call CMS' Brian Kelly today at 1-800-517-9099 to find out if it makes sense for your company.

Introduction to the Work Opportunity Tax Credit

For more information about the Work Opportunity Tax Credit please visit www.cmswotc.com or call CMS at 1-800-517-9099.

7 WOTC Tips & Tricks

7 WOTC Tips & Tricks to ask yourself before you send your employee Work Opportunity Tax Credit (WOTC) applications to us:

1. Did your employee sign and date the forms correctly?
2. Is the required information complete?
3. Did you put in their start date?
4. Did you put in their job title and wage?
5. Did the employee provide proof of age and address?
6. Has the employee worked for your company before?
7. Are you sending the applications to us within 21 days of the employee(s) start date?

Making sure information is complete and timely will help us make the most return on investment for you.

If you have any questions please don't hesitate to call or email us.

New HIRE Act Integrated with CMS' WOTC Services

CMS has successfully integrated the New Hire Tax Act of 2010 with our WOTC services to provide our clients an additional way to comply with the tax laws and save additional money.

Click here to read more about the Hire ACT of 2010

Learn more about the WOTC: http://www.cmswotc.com/

Calculate your potential WOTC savings: WOTC Calculator

New York State Responds to Rising Unemployment

New York State Responds to Rising Unemployment, Thousands of Dollars in Federal Work Opportunity Tax Credits available.


ROCHESTER, NY (07/16/2009)-- State Labor Commissioner M. Patricia Smith and Empire State Development Chairman & CEO designate Dennis Mullen today outlined a wide range of initiatives administered by the NYS Department of Labor designed to help businesses in the Finger Lakes Region weather the current recession. These include federal Work Opportunity Tax Credits (WOTC) for new hires, training programs and an initiative that helps companies avoid potential layoffs. In the Rochester area, the unemployment rate was 8.4 percent in June 2009, compared with 7.7 percent in May 2009 and 5.3 percent in June 2008 (not seasonally adjusted).

"As Governor Paterson often says, we are a state rich with resources, the most impressive of which is our human capital," said Commissioner Smith. "We need to invest in that capital here in the Finger Lakes Region, and let it grow. That is the ultimate goal of these initiatives, funded in part by the American Recovery and Reinvestment Act."

"With unemployment steadily rising, it becomes increasingly important to support workforce and business development initiatives across New York State," said Dennis M. Mullen, Chairman & CEO designate, Empire State Development. "ESD provides many services and programs to businesses that are designed to strengthen a business' competitiveness and to ensure our State's workforce remains one of the most productive and diverse in the country. During these challenging economic times, we will work to fully utilize the competitive resources already available to New York that set us apart from other states, such as access to water and an international border and a highly educated workforce."

Businesses in the Finger Lakes Region that are hiring are encouraged to take advantage of federal Work Opportunity Tax Credits (WOTC) administered by the Department of Labor. These credits, which can amount to thousands of dollars for each new hire, are available for any business that hires WOTC-eligible individuals, including: long-term Temporary Assistance for Needy Families (TANF) recipients; TANF recipients; veterans (eligibility criteria for veterans has expanded under the federal stimulus package); ex-felons; summer youth (eligibility criteria for youth has expanded under the federal stimulus package); vocational rehabilitation referrals; 18 to 39 year-old food stamp recipients; Supplemental Security Income Recipients; and individuals living in designated zones across the state. Businesses in the Finger Lakes Region interested in WOTC should call 1-888-4-NYSDOL. The State officials also encouraged Finger Lakes Region businesses to tap into the Labor Department's Building Skills in New York State (BUSINYS) program and upgrade the skills of their incumbent workers. Under this $5 million training program, funded in part by the American Recovery and Reinvestment Act of 2009, businesses with four or more workers are eligible to apply for up to $50,000 in worker training funds from the Department of Labor.

The purpose of the BUSINYS initiative is to ensure that the skills of workers do not deteriorate or become "stale" in an ever-more competitive and technologically complex global economy. Once awards are made to businesses in the Finger Lakes Region, incumbent workers will be trained in specific occupational skills needed by that business or industry. Eventually, this can lead to potential career growth and increased wages.

In order to be considered for an award, an applicant must:

• Be a private sector, for-profit, or not-for-profit business, and have four or more employees; or a consortium of two or more such businesses that have the same training needs.

• Be headquartered or have at least one physical location in New York State at the time the proposal is submitted. (Funds awarded to applicants must be expended on employees working at the applicant's New York State facilities.)

• Have contacted their local workforce investment area.

In addition:

• The position(s) targeted for training must exist and be filled at the time the proposal is submitted.

• The applicant must demonstrate that the training will result in the workers' acquisition of transferable occupational skills. Businesses have until July 20, 2009 to apply for the BUSINYS training program. There is no minimum award amount. Contracts will be awarded for a period of up to six months. For more information or to download an application, visit the Labor Department's homepage at www.labor.ny.gov.

Officials also called upon businesses in the region that are considering laying off workers to look into the Labor Department's Shared Work Program. Shared Work provides employers an alternative to layoffs as they face a temporary decline in business. Rather than lay off a percentage of workers to cut costs, an employer can use this program to reduce the hours of all or a particular group of employees. In turn, employees can receive partial unemployment insurance benefits to compensate for their lost wages. Under the Shared Work program, participating employees do not see a reduction in their health insurance, retirement, vacation pay, or other fringe benefits.In 2008, there were 67 companies and 2,947 workers in the Shared Work program in the Finger Lakes Region. Statewide, 462 companies and 14,775 workers participated in the program during that year. From January through May 2009, there were 231 companies and 6,702 workers participating in the Shared Work program in the Finger Lakes Region. During this same time period, 1,317 companies and 31,446 workers participated in the program statewide. Businesses interested in applying for the Shared Work program can call (518) 457-5807. To find out more about the Department of Labor and its services for businesses and workers, please visit www.labor.ny.gov.

To find out more about Empire State Development and its services for businesses and workers, please visit www.empire.state.ny.us.

For more about Work Opportunity Tax Credits please visit www.cmswotc.com

CMS Announces WOTC Webinar Series for Federal Employment Tax Credits

FOR IMMEDIATE RELEASE
Linzi Strong
(860) 678‐4401
lstrong@cmshris.com

New work opportunity tax credit (WOTC) webinars to educate employers of all sizes on how to take advantage of the Federal Employment Tax Credits.

Farmington, CT – February 20, 2009 – Cost Management Services (www.cmshris.com), a provider of employer based solutions including work opportunity tax credit (WOTC) services, Sage Abra HRMS Solutions, web based recruiting software iRecruit, and human resource management and payroll solutions, launched a new online webinar series for their work opportunity tax credit (WOTC) services. The personalized webinar series is designed for businesses that want to take advantage of the federal tax credits, but are unaware of who may qualify and the processes involved.

Introduction of the new WOTC Webinar Series (www.cmswotc.com) means CMS now provides employers with additional information that can assist them in saving money ‐‐ including their longstanding WOTC full‐service options. This webinar series will be a great educational tool. The webinar series will be held twice weekly beginning February 24th. Full Schedule details can be found on our website (www.cmswotc.com).

“Like the products and services we already provide to our customers,” says Brian Kelly, managing partner of CMS, “our clients who sign up for our WOTC services save up to a maximum of $5,000.00 per new hire that qualify. Furthermore, based on our analysis we have determined that 10% to 15% of all your new hires qualify under the federal provisions to receive such a tax savings.”

We often find businesses are not aware of the benefits of the WOTC program or they are unsure of the filling process to qualify for the work opportunity tax credit, thus not being able to cash in on the credits available. This is particularly problematic because those companies are not taking advantage of the cost savings that can highly benefit them in a tough economy. Brian Kelly adds, “Employers can now become more educated on the WOTC while finding additional ways to capture the sometimes millions of dollars left on the table by not taking advantage of these terrific employer job creation incentives.”

For details about our WOTC services, visit: www.cmswotc.com

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About Cost Management Services

Cost Management Services (CMS – www.cmshris.com) has been providing employer based solutions, including Employment Tax Credit Services (www.cmswotc.com); web‐based recruiting solution – iRecruit (www.irecruit-software.com developed by CMS); and the Sage Abra HRMS human resource and payroll solutions. With over 25 years of experience our focus on quality professional services allows us to achieve our goal of complete client satisfaction. CMS utilizes proven technology, implementation methodologies, expertise, and one‐on‐one training to automate, streamline and integrate the complete workforce management process.

Calculate Your Savings with WOTC

Did you know you could still keep hiring AND save money? Even in a "down economy" you can have significant savings for your company, and CMS can help. We've been saving companies money for over 10 years with our Work Opportunity Tax Credit processing program.

Based on CMS' experience 15% of the workforce may be qualified for up to $2,400 worth of tax savings under the WOTC program guidelines. Why aren't you taking advantage?

Calculate your potential tax savings with the Work Opportunity Tax Credit Savings Calculator.

To speak with a CMS WOTC Representative, please call us at 1-800-517-9099 and ask for Brian, or send an email.

Click here to download the WOTC brochure for more information.

Five Year High in Monthly Job Loss

The Department of Labor’s Bureau of Labor Statistics (BLS) released its Employment Situation Summary Report for September that details a decline in non-farm payroll employment by 159,000 last month, the largest monthly slide in five years. Overall the unemployment rate last month was 6.1 percent.

To read more visit:
http://www.digitaljournal.com/article/260721

To learn more about CMS' Work Opportunity Tax Credits processing program please click here:
http://www.cmshris.com/wotc.html

Work Opportunity Tax Credits

Work Opportunity Tax Credit (WOTC) is a federal tax credit program that offers incentive to employers who hire individuals who have consistently had difficulty in securing and retaining employment. The credit helps offset the federal tax liability of private, for-profit employers. The program covers only new hires that have not worked for the employer in the past.

Full Story:
http://www.ai.org/dwd/2771.htm

Incentives for Older Workers Act

New Senate Bill Aims to Help Senior Citizens, Aging Baby Boomers Stay in Workforce

Retirement trends could create a U.S. labor shortage of 4.8 million workers in 10 years

Although many of today's senior citizens find it is tough to find employment it may get a little easier is a new Senate bill passes. The bi-partisan bill has been introduced in the Senate to prevent projected dramatic declines in the workforce following the retirement of the baby boomers. It will provide incentives and eliminate barriers for older Americans wishing to stay in the workforce longer, and encourage employers to recruit and retain older workers.

The "Incentives for Older Workers Act" (Senate Bill 2933) was introduced in April by Senators Gordon H. Smith (R-OR), Herb Kohl (D-WI), and Kent Conrad (D-ND). Smith is Ranking Member of the U.S. Senate Special Committee on Aging and Kohl is Chairman.

"A colossal demographic shift is on the horizon," said Senator Smith. "Retiring baby boomers will cause significant gaps in our workforce if we do not incentivize them to work longer. We need to ensure the door stays open for those willing and able to remain an active part of the workforce during their golden years."

"With the retirement wave upon us, we must encourage employers to adopt policies now to attract and retain older workers," said Senator Kohl.

"Our commonsense policy creates a win-win situation for both older workers and the companies that employ them."

"This legislation confronts the changing face of retirement. The divide between working and retirement is no longer the bright line it once was. Many workers stay on the job longer, not just because they have to but also because their employers want them to stay," Senator Conrad said. "What we offer in the Incentives for Older Workers Act would make sure older employees who want to cut back their work schedules won't lose pension benefits as a result."

A 2007 Conference Board study reports that current retirement trends could create a U.S. labor shortage of 4.8 million workers in 10 years.

The "Incentives for Older Workers Act" works to reduce this decline by:

• Removing penalties in certain pension plans for workers who phase into retirement by receiving a lower salary while working reduced hours.
• Allowing seniors to earn delayed retirement credits for Social Security purposes for an additional two years until age 72, instead of age 70.
• Reducing the amount of Social Security benefits lost to seniors who claim benefits before reaching normal retirement age and while they continue working.
• Forming a National Resource Center on Aging and the Workforce within the Department of Labor to collect, organize and disseminate older worker information;
• Changing how Civil Service Retirement System (CSRS) annuities are calculated by correcting a glitch that results in a disproportionate reduction in benefits for certain employees who phase into retirement by working part-time.
• Requiring states to include older worker representatives on the state and local workforce investment boards and set aside five percent of the Workforce Investment Act (WIA) funds to assist older individuals.
• Expanding eligibility of the Work Opportunity Tax Credit (WOTC) to include older workers.
• Clarifying that certain defined benefit pension plans can define normal retirement age under their plans as the earlier of (1) the attainment of a specified age, or (2) attainment of 30 or more years of service.
  

For full details on the bill, click here

For additional details on CMS' Work Opportunity Tax Credit Program please click here.

Tax credit rewards employers of ex-felons

Did you know that half a million people in the United States are released from prison each year?

According to a report by the Justice Department, more than 5.6 million Americans are in prison or have served time in prison. That is 1 in 37 adults in the United States, which has the highest incarceration level in the world.

The Work Opportunity Tax Credit (WOTC) is a federal income tax credit that can save employers up to $2,400 in the first year of employment when they hire someone who has been convicted of a felony or recently been released from prison.

Would you feel comfortable working with a convicted felon? Would your company even hire an ex-felon?

"No" may be the easy answer, but it comes at a price. It costs taxpayers approximately $20,000 dollars a year to keep one individual incarcerated.

Adjusting to life on the outside is very tough for former prisoners. There is a stigma -- and a record -- they carry with them wherever they go.

When ex-offenders fill out job applications truthfully, they are often turned down for the jobs. And unemployment makes it tough for offenders to get their lives back on track.

Having a criminal record causes employers to stereotype ex-offenders as violent people, people who don't have any skills, who don't have any ambition to get their lives back on track. This perception is wrong.

The recidivism rate of offenders depends a great deal on employment. If an ex-offender is employed, they can pay taxes, pay their bills, and we as taxpayers are not paying for them to be locked up.

If the stigma that comes into play when hiring an ex-offender is a concern, there is another option to look at. It is called the Federal Bonding Program.

The FBP provides individual fidelity bonds to employers for job applicants who may be denied coverage by commercial insurance carriers because of an arrest record, conviction or imprisonment.

When commercial insurance is denied because of an individual's background, the employer often denies a job to that person. FBP coverage is provided at no cost to the employer or job applicant.

For more information on FBP, go to www.bonds4jobs.com.

For more questions on the WOTC program or to inquire about hiring an ex-offender, contact Art at860-678-4401.

Originally posted at Kansas.com

Calculate Your Savings with CMS' WOTC Tax Credit Program

The Work Opportunity Tax Credit program is designed to give employers an incentive to hire welfare-to-work employees. By taking advantage of the CMS WOTC program you can save up to $3,500 per new hire the first year, and up to $5,000 the second year of employment.

Visit our WOTC page for a tax savings calculator to calculate your potential savings, and find out more about the WOTC program.
http://www.cmshris.com/wotc.html

President signs bill raising the federal minimum wage

On May May 25th, 2007 President Bush signed legislation that increases the federal minimum wage to $7.25 an hour. The U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations Act, 2007 (H.R. 2206), which provides $120 billion primarily for the wars in Iraq and Afghanistan, includes a provision raising the federal minimum wage to $5.85 an hour beginning July 24, 2007, $6.55 an hour starting a year later, and $7.25 an hour, beginning two years later.

The bill also contains a $4.84 billion small business tax relief package and includes an extension of the Work Opportunity Tax Credit (WOTC). Congress approved the war funding bill on May 24.

For more information please visit:
http://hr.cch.com/news/payroll/053007a.asp