WOTC

Transcription

Did you know there’s a way to make a good hire for your company — and lower your taxes for doing it? It’s called the Work Opportunity Tax Credit, or WOTC (pronounced “watt-see”). WOTC is a tax credit of up to 9600 dollars that an employer can get for hiring someone who faces a challenge getting a job. What does that mean? It means hiring certain veterans, young people, people with disabilities, people who’ve received food stamps, and other people. There are details about which workers are eligible for WOTC at this website. These are people who want to get back to work and can perform well, but just need the right employment opportunity to get started. And you can get a tax credit worth thousands of dollars for hiring them. How does it work? It starts with keeping your eyes open — for workers who just need a chance to show what they can do for you. When you’re ready to hire, go to the WOTC website to check eligibility for the tax credit and for easy instructions on how to apply for it. It’s a straightforward, five-step process. There are two short forms to fill out. Both go to your State Workforce Agency. Once they certify your application, you file for the WOTC tax credit with the IRS. And that’s how you end up with a good worker — and lower taxes. Up to 9600 dollars lower, for each new employee hired who meets the eligibility requirements. It’s a great opportunity, and that’s what WOTC’s about. WOTC, the Work Opportunity Tax Credit. Learn more about WOTC at doleta.gov/wotc, or call 877-872-5627.