The Work Opportunity Tax Credit (WOTC) is a federal tax credit in the United States designed to incentivize employers to hire employees from certain target groups who have faced significant barriers to employment, such as veterans, individuals on public assistance, and ex-felons.
The credit is available to eligible employers who hire individuals from these ten target groups and who meet certain requirements. The amount of the credit is based on a percentage of the first-year wages paid to the eligible employee, with a maximum credit available per employee.
The Value of the Work Opportunity Tax Credit
The average tax credit is around $2,400 and around 10-15% of new hires may be eligible.
Example, you hired 200 employees in 2023, 20-30 new hires are potentially qualified, and you may have missed out on between $48,000 – $72,000*.
*Credit depends on the target group hired under.
Calculate Your Potential WOTC Credits:
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 improved its WOTC integration to make this easier for our customers.
CMS, the publisher of iRecruit, has been providing WOTC screening services for over 25 years and are experts in this field.
Set Up a Time To Speak With Us, Or Request More Information – Don’t Miss Out on Any More Tax Credits
