Need Employees? This Tax Credit May Help
Tax Tip:
The unemployment rate was 4% in January 2025. The Work Opportunity Tax Credit (WOTC) is available to employers that hire workers from targeted groups who face significant barriers to employment. The credit is generally worth up to $2,400 for each eligible employee. The maximum credit amounts differ for some employees, including certain veterans, long-term family assistance recipients and summer youth workers.
In most cases, eligible employees must begin working for the employer before January 1, 2026. Also, the job applicant and the employer must complete a prescreening notice before a job offer is made.
This material is generic in nature. Before relying on the material in any important matter, users should note date of publication and carefully evaluate its accuracy, currency, completeness, and relevance for their purposes, and should obtain any appropriate professional advice relevant to their particular circumstances.
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