The Barred Owl’s hooting call, ‘Who Who’ is a classic sound that permeates the old forests and treed swamps of North America. This call carries well through the woods and is a recognizable bird call to imitate.
But when talking to a business owner attempting to claim WOTC federal tax credits, you should not mistake their utterance of ‘WHO WHO’ as a bird call. Rather, what you are hearing is a business owner needing to understand exactly who among their hired employees qualifies for the WOTC tax credits.
In recognition of the jobs you provide, the federal government offers employers the WOTC, a tax credit for hiring and retaining individuals from target groups with significant employment barriers, such as veterans, ex-felons, and so on.
Employers can claim up to $9,600 per employee in tax credits per year under the WOTC program. Additionally, there is no set limit to the number of individuals an employer can hire to claim the tax credit.
How do you know if you’re hiring WOTC qualified employees? The first step is understanding who qualifies of the WOTC program. Employers can hire from the following target groups:
The tax credit that employers can claim is dependent on a few factors:
The WOTC tax credit range is from $1,200 to $9,600, depending on the qualified employees target group:
Searching for and screening job candidates who qualify for the WOTC, as well as applying to state workforce agencies and claiming the credit, does take some diligence and time. Let CTI’s elite tax specialists do the work to optimize the WOTC for you.
With the care and patience of a wise owl, CTI excels at screening applicants and employees for state and federal point-of-hire programs, monitoring your WOTC state agency applications, and quickly resolving issues to obtain prompt certificate approvals.
To learn more and begin your application process, schedule your complimentary WOTC consultation today.