The Government is Offering “Work Opportunity Tax Credits,” and Not Every Business Claims Its Fair Share.
What is WOTC?
The Work Opportunity Tax Credit (WOTC) is a federal program that encourages businesses to hire certain targeted groups. Businesses that hire these people get a federal income tax credit up to $2,400 for each certified employee (or up to $9,600 in one special case)
Our goal:
To help our clients generate tax credits with as little effort as necessary on their part.
To make it as easy as possible we have organized WOTC as a 3 step process:
- Have each new employee fill out the Online 8850.
- Have the employees available for a brief 2 minute interview.
- On a monthly basis, send wage data electronically in order for us to track the credits accrued.