What is the Work Opportunity Tax Credit (WOTC)?
The Work Opportunity Tax Credit (WOTC) is a federal tax incentive program designed to encourage businesses to hire individuals from certain targeted groups who face significant barriers to employment. By hiring eligible workers, your company can benefit from substantial tax credits while contributing to a more inclusive and diverse workforce.
Why Should Your Company Leverage WOTC?
Significant Tax Savings
For each eligible employee hired, your company can receive tax credits ranging from $2,400 to $9,600, depending on the employee category.
Access to a Diverse Talent Pool
By hiring from WOTC-eligible groups, you tap into a broad range of skills and experiences, fostering a more inclusive workplace.
Reduce Hiring Costs
The tax credits can offset the costs associated with hiring and training new employees, providing financial relief to your HR budget.
Improve Your Corporate Image
Participating in WOTC demonstrates your commitment to corporate social responsibility and inclusivity, enhancing your reputation among customers, clients, and investors.
How to Apply for WOTC?
Determine if your new hires belong to one of the WOTC target groups.
File IRS Form 8850 with your state workforce agency within 28 days of the employee’s start date.
Once certified, claim the tax credit on your business’s federal tax return.
Reduce your company’s federal tax liability and enjoy the financial benefits of hiring diverse talent.
WOTC FAQs
What is the maximum credit I can receive?
How long does it take to receive certification?
Can I claim WOTC for rehiring a former employee?
Our WOTC Services
Eligibility Screening
Help your business identify which employees qualify for the Work Opportunity Tax Credit (WOTC). We provide thorough screening services to ensure you maximize your tax savings.
Form 8850 Filing Assistance
Simplify the process of filing IRS Form 8850. Our experts will guide you through the paperwork, ensuring compliance and timely submission to your state workforce agency.
Tax Credit Calculation
Calculate your potential savings with WOTC. Our tools and experts will help you estimate the tax credits your business can earn by hiring eligible employees.
Our Trusted Partners
