What is Work Opportunity Tax Credit, known as WOTC, is a Federal tax credit available to employers who hire and retain veterans and individuals from other target groups with significant barriers to employment. Employers claim about $1 billion in tax credits each year under the WOTC program. The tax credit value varies from $1,500 to $9,600 depending on the category and the hours worked.
By adding in CMS’s WOTC service to your iRecruit account, you may be eligible for tax credits. A typical tax credit is valued at $2,400. How many employees do you hire per year? 10-15% of the population may qualify. So the savings can be significant.
WOTC is easy to set up and easy to use.
Include your WOTC screening as part of your hiring and onboarding. WOTC screening can be done via phone, secure web portal, or mail/fax. We do all the rest. We screen new hires for eligibility and submit qualified new hires to the appropriate state agency. When we receive credit, we track the hours worked and wages received to ensure you get the maximum credit available.
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