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Three Things Employers Don’t Know About the Work Opportunity Tax Credit

Posted on by iRecruit

The Work Opportunity Tax Credit known as #WOTC is a federal tax credit available to employers who hire individuals from disadvantaged groups of workers.

So what does CMS know about WOTC, that most employers don’t?

  1. WOTC only applies to New Hires, No Rehires are Eligible.
    The bottom line is, if you don’t screen your new hires for eligibility, you will miss out on tax credits. That’s something we help with. By integrating the WOTC Screening process with iRecruit, you can automate, save time, and identify potentially qualifying candidates.
  2. You Have 28 Days To Submit WOTC Forms.
    There’s a 28-day window from the day you hire someone to submit the WOTC survey to your State Workforce Agency. If you miss that 28 day window, you will miss out on potential ax credits.
  3. WOTC is supported by the U.S. Equal Employment Opportunity Commission.
    And they strongly encourage employers to use this little known tax credit. In April 2020, they took the unusual step of issuing a formal opinion letter.

 

How iRecruit Can Help!

WOTC Screening can be included in iRecruit, as part of the application process, or in iConnect, as part of your new hire (online) paperwork. iRecruit recently updated its WOTC integration to make this easier for our customers.

CMS, the publisher of iRecruit, has been providing WOTC screening services for over 24 years and are experts in this field.

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    irecruit-duck-miniiRecruit is a cloud-based recruiting and applicant tracking and electronic onboarding software designed to provide any size of business a cost effective, affordable and truly simple way to manage the recruiting and onboarding process online. With options for Express, Professional and Enterprise, you can find a flexible recruiting solution that meets your needs.

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