The Work Opportunity Tax Credit is a Federal tax credit available to employers* to hire and retain individuals from ten target groups with significant barriers to employment.
Employers claim billions in tax credits each year under the WOTC program. There is no limit on the number of individuals an employer can hire to qualify to claim the tax credit, and there are a few simple steps to follow to apply for WOTC.
This can make you eligible to receive a tax credit of between $2,400 and $9,600 depending on the qualifying category/target group.
Employers can create tax credit savings by using the Work Opportunity Tax Credit when they are hiring. Depending on how many people you hire, the tax credit savings can be quite significant.
Between 10-15% of New Hires may fall into one of the qualifying categories for WOTC. If you hire 100 people annually, and 10 – 15% of those new hires qualify, you may be able to obtain a tax credit of between $24,000 – $36,000.
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 or texting templates to request that new hires complete the WOTC Survey online or via multi-lingual call center. 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.
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.
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About iRecruit
iRecruit 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.
