5/21/2020 Covid-19 Update – Return To Work Incentive IF YOU DID NOT Receive PPP
A few days ago I shared the possibility of the WOTC for employees that you rehire as your business recovers.
The traditional WOTC regulations prohibit the WOTC for previous employees however there is strong and growing indication in Washington that WOTC may be temporarily approved to incent employers to hire back employees asap. At this point, WOTC relief is not approved but the point of the message was to make you aware and to have you consider applying for WOTC for each employee that you rehire and bring back to work from furlough. It may be a waste of time but there is no cost to do the application and the application must be processed promptly. Harrisburg may reject it but there is a 28 timeline from the date of rehire.
Alternatively, if you did not receive PPP, the ECR (Employee Retention Credit) credit is approved and ready for your application. Read the summary here.
Many thanks to HIREtech for keeping us informed on these types of best practices. Work through Mike McCorkle at HIREtech to get the preferred pricing.