COVID-19 relief bill extends WOTC benefits
The Work Opportunity Tax Credit Program (“WOTC”) and the Empowerment Zone Program (“EZ”) will continue to pay hiring tax credits through 2025. The Indian Employment Tax Credit (“IETC”) was extended only through the end of 2021.
If you’re taking advantage of these programs, great.
If not, now’s a good time to get started. On average 15% of the people you’ll hire next year will qualify for WOTC and the average credit is around $1,500 (these are our company’s averages after 20 years of helping companies administer this labor-intensive program).
Here’s the math: number of hires in 2021 times 15% times $1,500 equals the amount of income tax savings you could realize next year. For very little up front work.
We have a fast-start program that can help you get started saving money with all these tax credits in less than an hour. Head over to www.employerincentives.com, review our testimonials and fill out the contact us page, or simply reply to this email and I’ll have one of our tax credit experts get back to you within one business day.