WOTC.com software identifies and certifies more eligible applicants by simplifying the process and streamlining the forms required for certification.
The Work Opportunity Tax Credit (WOTC) is a federal tax credit that the government provides to private-sector businesses for hiring individuals from nine target groups that have historically faced significant barriers to employment. This government program offers participating companies between $2,400 – $9,600 per new qualifying hire.
Through geographic incentive credits, the federal government has also designated certain economically depressed areas as tax advantage areas, or Empowerment Zones. If your business is located in one of these areas and you employ individuals living in the same area, you can earn credit against your federal tax liability.
The WOTC Tax Credit is a dollar for dollar tax credit (not a percentage) of your IRS taxes owed. For example: a mid-sized company that hires 30 employees per month can expect a WOTC Tax Credit of more than $100k annually. These credits can be carried back to the previous year, applied in the tax year the credit was generated, or carried forward for twenty years.
The WOTC Process:
1. Each new hire completes an IRS 8850 form. WOTC forms are available in English, Spanish, and Russian.
2. Forms are submitted to WOTC.com through the Workable integration
3. WOTC.com specialists submit these forms to the govt. agency with backup documentation to prove eligibility.
4. WOTC Certifications are received for qualified WOTC applicants.
5. WOTC Tax Credits are calculated based on employee’s payroll information.
6. WOTC Tax Credits are sent to CPA for filing
1. Preliminary Step - In order to utilize our service, clients must first register for a WOTC.com account. Once the account is created, your Partner Alliance Manager from WOTC.com will reach out to confirm the registration.
2. Deliverables - Clients will need to provide their Subdomain, Partner Token and Pipeline Stage to their WOTC.com Partner Alliance Manager. The pipeline stage will be the stage you would want the candidates to receive the WOTC form in. The Subdomain is located in your URL after logging in. The Partner Token will need to be generated within your Workable account. To do this, click on “Settings” and then “Integrations”. From the Integrations page, scroll down to the WOTC section and click “Generate Token”.
3. WOTC Form - When the candidate’s profile gets moved to the pipeline stage in Workable, WOTC.com will send the candidate an email to fill out the WOTC form.
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