Work Opportunity Tax Credit (WOTC)
The Work Opportunity Tax Credit (WOTC) is a federal tax program that rewards employers for hiring new employees from various “targeted groups.” The tax credit differs based on which group your employee is in. The tax credit has maximum value of up to $9,000 per qualified employee.
While most companies are already hiring from the groups, the administrative burden of applying for the credits keeps many businesses from participating.
The targeted groups currently available for screening your employees are:
- A member of a family that is a Qualified Food Stamp (SNAP) Recipient
- A member of a family that is a Qualified Temporary Assistance for Needy Families (TANF) Recipient
- Qualified Veterans
- Qualified Ex-Felons, pardoned, paroled or work release individuals
- Vocational Rehabilitation Referrals
- Qualified Summer Youths
- Qualified Supplemental Security Income (SSI) Recipients
- Qualified Individuals living within an Empowerment Zone, or Renewal Community
- Long Term Family Assistance Recipient (TANF)
- Disconnected Youth
- Qualified Long-Term Unemployment Recipient
Our administration of the program centers on these goals:
- Maximum benefit: Ensuring our clients receive the maximum benefit from federal and state tax credit programs. CCS will provide thorough compliance reports delivered on your schedule tracking compliance by location, division, zone, or company-wide.
- Simplicity: Implementing and maintaining a system for our client that makes participation in federal/state tax programs virtually invisible.
- Centralized Administration. Centralized administration makes it easier to keep track of the flow of new hires, their eligibility, and certification. All paperwork flows through our offices, not yours, enabling your key employees to run your business and not be filling out forms, filing documents, and calling various government agencies.
- Flexible Administration. We can customize the program to fit the needs of any corporate structure. Program structure is dynamic, if your company changes we will reorganize the program to assure maximum benefit. Tax credit reports can be issued on a monthly, quarterly, or annual basis depending on your needs.