Work Opportunity Tax Credit (WOTC)
Is a federal program that rewards businesses when they hire employees deemed to have barriers to employment. The best news is, your business already hires eligible employees, you just need the right help to identify and document their qualifications.
The program offers a dollar-for-dollar reduction of your federal tax liability, with credits ranging from $1200 – $9600 per qualified new hire!
Eligibility categories are listed below.
- Short-term Recipients of TANF
- Snap Recipients (Food Stamps)
- Recipients of Supplemental Security Income (SSI)
- Long-term Recipients of TANF (public assistance)
- Long-term Unemployed
- Summer Youth Employees
- Vocational Rehab Referrals
While the technical details involved are admittedly complicated, you can rely on EF Cost Recovery to identify and document your workforce’s eligibility for WOTC and other state and federal tax credit programs. EF Cost Recovery’s dedicated team has built strong relationships with each State Workforce Agency to deliver top of class service.
EF Cost Recovery gives you the simplest, most effective solution possible for easy tax credit success. We do all the work and heavy lifting, you get all the (tax) credit!
New employees either call in to our toll-free screening center and participate in a 1-2 minute screen to determine their eligibility or they can login to our online portal and complete the screen electronically.
From that point, EF Cost Recovery Does the Rest!
- Secure required support documentation
- Manage correspondence w/ various government agencies
- Secure certificates of eligibility
- Deliver reports and feedback
- Calculate tax credits generated
- Provide required tax forms to you and your CPA
EF Cost Recovery’s compliance process, which includes integration with client payroll services, delivers the best results in the field, period. Through our proprietary process, we are able to screen 95% of our clients new hires, which translates to more tax $$$ saved for our clients!