At CMS, as Work Opportunity Tax Credit (WOTC) experts and service providers since 1997, we receive a lot of questions via our website’s chat box:
CMS Says: According to the Department of Labor Work Opportunity Tax Credit Factsheet, for 2016, the latest complete year available, state workforce agencies issued 2,481,930 certifications. With the average tax credit being $2,400, we can conservatively estimate the value of those issued tax credits to be $5,956,632,000. That’s just in one year.
- In FY 2016, SWAs issued 2,481,930 certifications.
- In FY 2015, SWAs issued 1,896,528 certifications.
- In FY 2014, SWAs issued 1,300,934 certifications.
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