WOTC – are you taking advantage?!

Accountants make accounts, income, expenses, annually to calculate taxation with coins stacking and saving jar for tax reduce and refund concept.

Are you taking advantage of WOTC?  There are several billions of dollars currently available annually to employers through the WOTC program!

What is WOTC?  The Work Opportunity Tax Credit is a federal tax credit available to employers for hiring individuals from certain target groups that have consistently faced significant barriers to employment. On average, WOTC is utilized by only 10-15% of employers.  Employers can take advantage of this opportunity by having their new hires complete the Form-8850, a pre-screening notice and certification request for the Work Opportunity Tax Credit.  If an employee identifies with one of the characteristics on this form, they will then complete the Form 9061.  This form, in combination with Form 8850, is used to help state workforce agencies determine eligibility for the WOTC Program.  The form can be completed physically or online:  https://www.edd.ca.gov/About_EDD/Employer_Services_Online.htm

Employers may be eligible for thousands of dollars in tax credits per employee for completion, submittal and approval of WOTC applications.  Tax credits range from $2,400 to $9,600.

To learn more about the WOTC program, please visit; https://www.edd.ca.gov/Jobs_and_Training/Work_Opportunity_Tax_Credit.htm

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