The Work Opportunity Tax Credit is a Federal tax credit available to employers to hire and retain individuals from target groups with significant barriers to employment. Between 8-15% of New Hires may fall into one of the qualifying categories for WOTC. This can make you eligible to receive a tax credit of between $2,400 and $9,600 depending on the qualifying category.
Did you know?
- Employers claim about $1 billion in tax credits each year under the WOTC program. Last year, North Carolina issued $188 million dollars in WOTC Tax Credits to employers.
- There is no limit on the number of individuals an employer can hire to qualify to claim the tax credit. Whether you hire 5 qualified people or 5 thousand per year, there are no limits to your potential credits.
- You can hire part time OR full time employees. It may take a part time employee slightly longer for you to reach the maximum credit, but they still are valid.
How WOTC works with iRecruit and iConnect
iRecruit and iConnect is a system that can practically pay for itself through the addition of these valuable tax credits. You can link your iRecruit and WOTC accounts easily. You can use iRecrut’s email templates to request that new hires complete the WOTC Survey online, via multi-lingual call center, or by paper. iConnect customers can include WOTC as part of all of their new hire documents.
iRecruit customers who would like to use WOTC can request the addition of WOTC through your account representative.
For more information about WOTC, or if you have questions about using iRecruit with the Work Opportunity Tax Credit, please contact us below:
