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Four Things Employers Need To Know Before Using the Work Opportunity Tax Credit

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. It only applies to New Hires.
The bottom line is, if you don’t screen your new hires for eligibility, you miss out on tax credits. That’s something we help with.

2. You Have 28 Days To Submit WOTC Forms.
There’s a 28-day window from the day you hire someone until you can submit the WOTC survey to your State Workforce Agency. That’s something we help with.

3. It’s worth billions to employers.
In 2018 the state of North Carolina issued $162 million in WOTC Tax Credits to employers in that state. Massachusetts issued over $66 million, and Tennessee issued a staggering $172 million to employers for hiring qualified new hires. This makes the Work Opportunity Tax Credit one of the most valuable tax credits for employers.

4. WOTC is supported by the EEOC.
And they strongly encourage employers to use this little known tax credit.


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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