Tax Break Check (WOTC)
The Work Opportunity Tax Credit (WOTC) is a federal tax program designed to encourage employment of people who are disabled, have limited incomes, or face other challenges. Employers who hire individuals in specified target groups are eligible for a federal tax credit under the program. Businesses taking advantage of the WOTC may save as much as $2,400 per qualifying employee. In some cases, the savings may be as high as $9,000 per employee.
BENEFITS:
- A potential of $1200 to $9000 in tax credits per eligible hire.
- 3% to 20% of your new hires can expect to qualify .
- Financial benefits derived from credits can often decrease a company's hiring and training costs by 10% to 30%.
The WOTC program is only for new hires and annual tax credits for hiring most target group members can receive as much as:
- $2,400 for each new adult hire;
- $1,200 for each new summer youth hire; and
- $4,800 for each new disabled veteran hire; and
- $9,000 for each new long-term family assistance recipient hired over a two-year period.
The Work Opportunity Tax Credit (WOTC) has nine targeted groups.
Employers may qualify for a tax credit if they hire a worker who fits
into one of these nine groups:
- Long-Term (TANF) recipients.
- Veterans who are receiving Food Stamps.
- Ex-felons hired no later than one year after conviction or release from prison
- Designated community residents, aged 18-39, who live in a federally designated Empowerment Zone, Enterprise Community, or Renewal Community.
- Vocational Rehabilitation and Ticket to Work Employment Network referrals.
- Summer youth, aged 16-17, who live in a federally designated Empowerment Zone, Enterprise Community, or Renewal Community and have not previously worked for the employer.
- Food Stamp recipients, aged 18-39.
- Recipients of Supplemental Security Income (SSI).
- Long term Temporary Aid to Needy Families (TANF) recipients.
We relieve your company of the administrative hassles of the program. We retrieve all necessary information and documentation to certify the benefits for your company.
Our background screening system allows you to background screen your applicants for employment and at the same time can certify them for the WOTC for your company.
Each year, millions of dollars in tax credits go unclaimed, even though employers are hiring workers every day from the target groups designated by the WOTC Program. Our TAX CREDIT CHECK ensures employers fully capture the WOTC credits for which they are eligible, ranging from one-time credits of up to $2,400 to two-year credits of up to $9,000 per qualified individual.
Save TIME and MONEY by using our system!
TaxBreak Check Fee: $6.95
