Federal Empowerment Zone/Renewal Community Tax Credits

Benefit

Tax Savings of up to $3,000 (FEZ) and $1,500 (RC) are available for each employee who works at a business in a designated zone and resides in the same zone. Renewal Community Credits are only applicable through 12/31/2009, but may be claimed retroactively. The credit may be carried back one year and carried forward for 20 years. More significantly, these credits may be claimed against a company’s Alternative Minimum Tax (AMT).

What is a Designated Zone?

A community determined to be in an economically distressed area based on federal census tract.

Our Services

  • Use mapping software to cross-reference all client locations with zones
  • Once a client facility is determined to be in a zone, cross reference all employee addresses with zone data
  • Calculate credits based on type of zone, employee wages and WOTC status
  • Annually calculate credits and supply supporting report

For more information contact us.