What is WOTC?

The Work Opportunity Tax Credit is a federal tax incentive available to employers that hire from ten target categories that typically face significant barriers to employment. The main goal of the WOTC is to enable these groups to become economically self-sufficient and become tax-payers themselves and to reward employers for reducing the costs of social programs.

 

 

What are the target categories?

They come from such designated categories as:

Long-Term Unemployed

Long-Term TANF

Unemployed Veterans

TANF Recipients

SNAP (Food Stamps)  

Designated Community Residents living in empowerment zones 

Vocational Rehabilitation Referred Individuals

Ex-Felons 

Supplemental Social Security Income Recipients  

Summer Youth

 

 

How do I know if my new employees are eligible?

Swain Consulting can assist you with the screening process by providing you with two simple forms that you can incorporate into your hiring paperwork. Remember you only have 28 days from the start date to file with the state to activate this program.

 

How long does the qualified employee have to work to get the tax credit?

Your credit is worth a tax savings to you when the qualified employee works between 120 and 400 hours. We will calculate the value of your credit based upon hours worked and wages earned within that time period.

 

What is your process?

First, every employee should fill out the IRS 8850 Form and the Swain Consulting form when they apply for the job. Then once the person is hired, Swain Consulting will screen your new hire to ensure we obtain every potential qualifier.



How much does it cost?

Swain Consulting charges a percentage of the credit's value that you've earned. 

 

 

Why choose Swain Consulting?

        Because as a third party vendor, we will ask the questions that you as the employer are unable to ask             by law. We also do the legwork of communicating with the Government agencies to confirm the                  eligibility of the employee, ensuring that we retrieve EVERY Certificate available to the company.

 

Who should I contact for more information?

Stevie Swain is our expert in the WOTC program. She would be happy to meet with you and give you more detailed information on the Federal program and our process. Contact her directly by email or phone. Stevie@SwainConsultingllc.com or at 513-818-1753, ext 4.