The Work Opportunity Tax Credit (WOTC) is a Federal tax credit available to employers for hiring and employing individuals from certain target groups including:
- Veterans
- Recipients of “Temporary Assistance for Needy Families”
- Food stamp recipients
- Designated community residents
- Ex-felons
- Supplemental security income recipients
- Long-term unemployment recipients
- Summer youth employees
The tax credit is generally up to $2,400/qualifying employee. You can read more details about the credit at www.irs.gov, but the beginning to end process of qualifying for and ultimately claiming the credit can be a bit cumbersome so please contact us to discuss how we can help.