Sep 1, 2020
The deadline for filing 2019 federal taxes is fast approaching. Businesses that have qualified locations and employees may take advantage of the following federal tax credit programs:
- Federal Empowerment Zone (FEZ) employment credit – Credit of up to $3,000 per eligible employee who lives and works in a zone.
- Indian Employment Credit (IEC) – Credit of up to $4,000 for hiring eligible Native Americans. Eligible employees must work on a federally recognized Indian Reservation or former Indian Reservation in Oklahoma.
- Disaster Retention Credits - Credit of up to $2,400 per employee for retaining and paying employees whose impacted location was in one of the 2018/2019 federally declared disaster areas.
These credits may also be applied retroactively. To review your locations and assess eligibility, please contact your Silverlode incentives consultant.