You might be asking, what is WOTC?
The Work Opportunity Tax Credit (WOTC) is a federal tax credit for employers who hire and retain individuals with significant barriers to employment; such as Veterans, long-term unemployed, felons, and others on State assistance programs like SNAP, TANF, & SSI.
Why Participate in WOTC?
- Do you have Federal Tax Liability?
- Do you have a high percentage of hourly employees?
If you answered YES to either of these questions, you should be screening for WOTC.
Let’s Dive Deeper:
- An employer who hires eligible employees in any designated Target Group, qualifies for the credit
- WOTC reduces your company tax liability by up to $9,600 per qualified employee
- There is no limit to the number of tax credit you can claim
- Tax credit earned frees up real company dollars you can use for other programs
Those are staggering numbers and that’s only three of the Target Groups! With millions of people in these target groups, chances are pretty high that you have individuals who meet the criteria for the Work Opportunity Tax Credit.
WOTC Target Groups
- $2,400 to $9,600
Designated Community Resident
SNAP (Food Stamps) Recipient
Short-Term TANF / Long-Term TANF Recipient
- $2,400 to $9,600
Vocational Rehabilitation Recipient
Long-Term Unemployment (27+ weeks)
Bonus WOTC Benefits
Certain tax-exempt organizations can take advantage of WOTC by hiring eligible Veterans and earn a credit against the employer’s share of FICA taxes.
By hiring an individual who is WOTC eligible, employers not only provide a job opportunity, but can gain a thankful and loyal employee who stays longer.
For every Federal $1 spent on the WOTC program, $5 is saved on other assistance programs by putting Americans to work.
Efficient Hire makes WOTC screening and processing simple. No more incomplete forms or trying to figure out the complex calculations. We streamline identifying eligible employees, capture the maximum amount of tax credits for each certification and manage the entire lifecycle of state certified credits from the WOTC application to year-end reporting.
all new hires are screened during onboarding so you never miss a potential client
employees are guided through simple screening questions in plain English or Spanish.
HOURS & WAGES TRACKING
we automate all the complex calculations; maximizing your tax credits
we submit and monitor required documents; ensuring all critical deadlines are met
our comprehensive reporting tools help you monitor the total tax credit you have earned.
UP TO $9,600 PER NEW HIRE
there are no limits for the amount of WOTC credits you can claim
Real Customers. Real Credit.
Since 2014, we have screened over one million WOTC applications. Take a look at the benefits employers have received by putting Americans back to work under the WOTC program:
Quick Serve Restaurant Group 04/2016:
- 4862 New Hires WOTC Eligible
- 1559 WOTC Certifications
- 846 Pending Certifications at SWA, that’s $662,765.74 in potential pending Credit
- $839.33 average Tax Credit earned per certified employee
- $1,308,523.22 real Tax Credit to Employer – report date: 05/2019
Private Senior Living Operator 07/2017:
- 525 New Hires WOTC Eligible
- 307 WOTC Certifications
- 79 Pending Certifications at SWA, that’s $65,145.72 in potential pending Credit
- $1382.77 average Tax Credit earned per certified employee
- $424,511.30 real Tax Credit to Employer – report date: 05/2019