Work Opportunity Tax Credit (WOTC) | Employer Tax Credits
What is the Work Opportunity Tax Credit (WOTC)?
WOTC was created to assist targeted groups who traditionally have had difficulty finding employment. Those targeted groups are:
- Welfare Recipients
- Food Stamp Recipients
- Vocational Rehab Recipients
- SSI Recipients
- Ex-felons
- Qualified Veterans
- High Risk Youth
- Individuals living in an EZ, RC or EC
The Work Opportunity Tax Credit is a federal hiring incentive that provides a tax credit of up to $9,000 if your company is hiring from any one of the following groups:
- A member of a family that is a Qualified Food Stamp Recipient
- A member of a family that is a Qualified Aid to Families with Dependent Children (AFDC) 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, Renewal Community, Enterprise Community or Rural Renewal Community
- Long Term Family Assistance Recipient (TANF) – formerly known as Welfare to Work
The Tax Credit Processing Center will relieve your company of the administrative hassles of the program. They retrieve all necessary information and documentation to certify the benefits for your company. From payroll information, they provide your company with a monthly report outlining the credits earned on each employee.
How the Tax Credit Processing Center Works
The Tax Credit Processing Center will relieve your company of the administrative hassles of the program. They retrieve all necessary information and documentation to certify the benefits for your company. From payroll information, they provide your company with a monthly report outlining the credits earned on each employee.
A strategic partnership with the Tax Credit Processing Center will allow your company to decrease operating cost and increase cash flow with no financial risk. As a complete service provider, we research all federal, state and local tax credits and incentives. TCPC is flexible to client needs, offers several processing options and provides real time reporting. Our methods eliminate 86% of the paperwork and give the ability to target hire credit eligible applicants. Through reducing your tax liability, we give you an opportunity to increase the bottom line and improve operations and quality management. Our expertise and progressive approach enable us to provide clients with unparalleled service.
Work Opportunity Tax Credit (WOTC) Integration
iApplicants makes the tax credit process even easier. Each of your applicants will be asked 9 additional application questions that will determine the likelihood of the applicant qualifying your company for a tax credit. Upon making a new hire, the applicants information will be passed to the Tax Credit Processing Center for processing.
Learn More About Work Opportunity Tax Credit (WOTC)
Would you like to learn more about how the Tax Credit Processing Center can help your company? Click on one of the links below to learn more.
Learn More about iApplicants Applicant Tracking System
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