Work Opportunity Tax Credit
Hire Smart, Save Big on Taxes
Reduce Hiring Costs While Strengthening Your Workforce
The Work Opportunity Tax Credit (WOTC) is a federal tax incentive that rewards businesses for hiring employees from targeted groups, such as veterans, long-term unemployed individuals, ex-felons, and SNAP recipients. By hiring from these groups, businesses can claim up to $9,600 per eligible employee, reducing overall payroll costs while making a meaningful impact on workforce development.
Despite its benefits, many businesses fail to take advantage of WOTC due to complex pre-screening and certification requirements. At Kewal Krishan & Co, we handle the entire WOTC process, including candidate pre-screening, filing IRS forms, and ensuring compliance, so you can focus on growing your business while maximizing tax savings.
Core Services
Pre-Screening & Certification Assistance
- Identify and verify eligible employees from WOTC-targeted groups.
- Submit IRS Form 8850 and state workforce agency forms for certification.
Tax Credit Calculation & Optimization
Determine credit amounts based on employee wages and work hours.
Maximize combined tax credits by integrating WOTC with other hiring incentives.
IRS Form 5884 Preparation & Filing
Prepare and submit IRS Form 5884 to claim the WOTC credit.
Maintain detailed documentation for IRS compliance and audit protection.
Multi-Year Credit Tracking
- Track employees who qualify for extended WOTC benefits beyond the first year.
- Ensure businesses continue to claim multi-year tax credits where applicable.
Integration with Payroll & HR Systems
- Work with HR teams to implement WOTC tracking and compliance solutions.
- Ensure payroll systems properly allocate WOTC-eligible wages.
State & Federal Credit Stacking
- Identify state-specific hiring credits that can be stacked with WOTC.
- Develop strategies to optimize state and federal hiring tax benefits.
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