Clever RX
2 min read

Are You Missing Out on Work Opportunity Tax Credits?

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Many companies don’t realize they miss out on large tax credits every single year!  The Work Opportunity Tax Credit program (WOTC) is a Federal tax credit for employers who hire and retain individuals with significant barriers to employment.  

WOTC ELIGIBILITY & VALUE

  • Veteran: $2,400 to $9,600
  • Designated Community Resident: $2,400
  • SNAP (Food Stamps) Recipient: $2,400
  • Short-Term TANF / Long-Term TANF Recipient: $2,400 – $9,000
  • Ex-Felon: $2,400
  • SSI Recipient: $2,400
  • Vocational Rehab Recipient: $2,400
  • Long-Term Unemployment (27+ weeks): $2,400

WHY SHOULD I BE SCREENING FOR WOTC?

  • If you have a Federal Tax Liability and employ a high number of hourly employees – you should participate in WOTC!
  • Reduce your Company’s tax bill by up to $9,600 per eligible employee with no limit to the credit you can claim.
  • Free up tax savings for use with other company programs.
  • If you are in a Net Operating Loss (NOL), no problem. By screening for WOTC now, you can claim & carry-forward credits earned for up to 20 years.

MORE INCENTIVES TO WOTC THAN TAX CREDITS

  • By hiring an individual who is WOTC eligible, employers not only provide a job opportunity, but can gain a thankful and loyal employee who stays longer.
  • For every Federal $1 spent on the WOTC program, $5 is saved on other assistance programs by putting Americans to work.
  • The WOTC program incentivizes workplace diversity and facilitates good jobs for workers.

WOTC SCREENING SIMPLIFIED

  • In applicant tracking, candidates answer a few simple WOTC questions when they apply for your jobs; identifying likely eligible with a WOTC badge.
  • Managers identify which candidates are likely eligible for WOTC before making a hiring decision – giving you an advantage over the competition.
  • During Onboarding, new hires finish the official WOTC screening questions and the forms are eSigned along with the rest of the onboarding bundle.
  • New hires and managers experience a streamlined application & onboarding workflow while you gain the maximum credits for each hire.

For more information about WOTC contact sales@aaphcm.com.