What is the Work Opportunity Tax Credit Program?
WOTC reduces an employer’s cost of doing business
If you have a Federal Tax Liability, you should be taking advantage of the WOTC program
WOTC Target Groups
An employee completes the WOTC screening questions.
If the individual is eligible based on the WOTC Target Group guidelines, the completed forms are submitted to the State in which they reside (SWA).
Once WOTC Certified by the SWA – the tax credit available to you depends upon the employee’s retention period (hours worked) and wages paid during their time of employment.
Quick Facts: Among Veterans, the total unemployment rate was 4.3% in September 2016. The unemployment rate has since dropped overall. As reported in the Employment Situation: Household Data for September 2017, the unemployment has increased for Women Veterans – Sept 2016 reported a 3.9% unemployment rate, which increased to 4.5% in Sept 2017.
Step 1: Your New Hire is invited to the online WOTC questionnaire – right in the application or onboarding, if you utilize EfficientHire’s Onboarding
Step 2: Employee eSigns, only if they screen as Eligible – the IRS WOTC Forms 8850 & 9061 are completely and accurately generated with required data
Step 3: HR and/or Hiring Manager approves the WOTC forms.
Step 4: The EfficientWOTC Processing Team submits your approved and completed WOTC forms to the SWA – Done.
All IRS Forms are generated completely & accurately. No more confusing IRS Forms to complete manually!
The Efficient Team has been working with SWA’s processing WOTC applications since 2010 & is the representative (Agent) for over 2,500 employers