New Jersey Announces New Online WOTC System

Aug-15-11 Christie Administration Unveils Streamlined E-Filing System to Give New Jersey Businesses Tax Credits More Quickly. Work Opportunity Tax Credits Helps Employers Hire Workers with Barriers

TRENTON, AUGUST 15, 2011 -- Advancing Governor Christie’s commitment to making New Jersey more business friendly, Labor and Workforce Development Commissioner Harold J. Wirths today unveiled a new online system that allows employers to quickly apply for and receive Work Opportunity Tax Credits (WOTC).

“This is another way our administration is cutting red tape,” said Lt. Governor Kim Guadagno, who oversees economic development in New Jersey. “Making it easier for businesses to claim tax credits will lead to more jobs for qualified individuals.”

WOTC refers to a federal tax credit incentive program that offers significant tax credits – up to $4,800 the first year – to employers who hire job seekers with barriers to employment. The targeted groups include individuals with disabilities, those receiving public assistance or food stamps, people previously incarcerated and qualified veterans. The program requires a minimum employment retention period.

“We are excited to bring this new technology to our business customers,” said Commissioner Wirths. “With this new, streamlined electronic system, tax credit certifications for most employers may be validated within two business days. As a result, we are encouraged that even more employers will take advantage of the WOTC program and federal tax credits through the new filing system.”

The new online system replaces the previous method of submitting applications through the U.S. Postal Service and also addresses a backlog of applications that left many employers waiting months to receive their tax credits. An added benefit is that employers may go online to check the status of their applications and determinations.

“Employers or tax credit consultants that represent employers may use the WOTC electronic filing system,” said Anthony Ferrera, director of Workforce Portfolio and Contract Management at the Department of Labor. “The new electronic online system offers more flexibility and control over the application process, which is available 24 hours. The online system not only minimizes errors, but it also moves the process along more quickly so we may promptly validate a business’s tax credit certification.”

In January, the Department of Labor formed an employer focus group to review the design and provide feedback on the web application. In May, the department launched a pilot program, using several employers and consultants, which allowed the department to make modifications to ensure the system is user friendly for New Jersey’s employers.

“Overall, I like the system,” said Lois Zwick, an administrative assistant whose consultant group, Walton Management Services of Ocean, N.J., participated in the pilot program. “It’s long overdue, and the system allows you to go in and fix errors which will cut down on a lot of unnecessary work and back log.”

Employers or job-seekers who want more information about the WOTC program or how to file the online application should go to: http://lwd.dol.state.nj.us/labor/employer/content/wotc.html, or send an email to: WOTCinquiries@dol.state.nj.us, or call: (609) 292-5525

President Obama Announces Jobs Initiative for Post 9-11 Veterans

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President Obama To Announce New Steps To Get Veterans Back To Work

Today the president will announce new steps aimed at helping the nation’s one million unemployed veterans get back to work. In a speech at the Washington Navy Yard, the president will challenge the private sector to hire 100,000 veterans or their spouses by the end of 2013 and will propose extending tax credits for wounded warriors and service members returning from combat.

“The president feels that our veterans who have served the country, put their lives on the line and are coming into a difficult labor market, deserve all the support we as a country can give them to find new careers, new private sector job opportunities that will allow them to have economic security for themselves and their families,” an administration official said.

The president will advocate for a “Returning Heroes Tax Credit,” which would offer participating companies a $2,400 tax credit for hiring short-term unemployed veterans. The White House would also offer additional incentives of $4,800 to companies hiring service members who have faced unemployment for six months or longer. ...

Via: ABC News, Click here for full Article.