The Work Opportunity Tax Credit (WOTC) has been extended through 2025. This is an incentive for employers to broaden their job applicant pools and hire from certain groups of people who may need assistance finding jobs such as:
- Unemployed or disabled military veterans
- Long-term unemployed
- Temporary Assistance for Needy Family (TANF) recipients
- People with disabilities who have completed or are completing vocational rehab
- People with criminal histories
- Supplemental Security Income recipients
- And others
Maximum tax credits range from $2,400 to $9,600 depending on the worker category, number of hours worked and wages. Millions of dollars are left on the table each year. WOTC can offset the federal income taxes imposed on businesses. You must get individuals WOTC-certified and ensure the new hire works at least 120 hours before claiming the credit.
If you have questions, reach out and our team will connect you with a partner organization who can assist.
