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 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 average tax credit is around $2,400 and around 10-15% of new hires may be eligible.
iRecruit Includes Work Opportunity Tax Credit Screening
Tax Credit Screening is built-in to iRecruit for our users. When you hire someone you can initiate the screening using texting, email, or iConnect.
CMS will do all the work behind the scenes to submit and obtain tax credits for your company.
With 10-15% of new hires potentially qualifying, you could be losing out on valuable tax credits if you do not screen new hires.
For More Information on WOTC Screening with iRecruit, Please Contact Us Below:
iRecruit is a cloud-based recruiting and applicant tracking and remote 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.