The Work Opportunity Tax Credit (WOTC): An Employer-Friendly Benefit for Hiring Job Seekers Most in Need of Employment

 

Hire From Among These 10 Groups of

Job Seekers to Qualify for the WOTC

 

·       Families receiving Welfare-Temporary Assistance for Needy Families (TANF)

·       Qualified Veterans

·       Ex-felons

·       Designated Community Residents

·       Vocational Rehabilitation Referrals

·       Summer Youth Employees

·       Food Stamp Recipients (Supplemental Nutrition Assistance Program - SNAP)

·       SSI Recipients

·       Long-term Family Assistance Recipients

·       Hurricane Katrina Victims

How Much are These Tax Credits Worth?

 

$2,400 generally for each new adult hire,

$9,000 for each new long-term TANF recipient hired over a 2-yr. period.

 

Additional IL Tax Credits:

$600 for Hiring a Qualified Ex-Offender

$1200 for Employing a Qualifying Veteran

 

 

 

Let the "Tax Credit Experts" at Sharp Payroll walk you through how to take advantage of these valuable credits. Call Brad or Joe at (309) 686-1040.