At CMS, as Work Opportunity Tax Credit (WOTC) experts and service providers since 1997, we receive a lot of questions via our website:
CMS Says: Hello, “WOTC” is a tax credit that is available to employers. You might have seen the WOTC forms as part of an employment application, or more likely, part of the new hire paperwork if you were hired. The forms are called the 8850 and 9061 and help determine if you might qualify for a tax credit for the employer. Here’s a little more about WOTC:
The Work Opportunity Tax Credit (WOTC) is a Federal tax credit incentive that Congress provides to employers for hiring individuals from certain target groups who have consistently faced barriers to employment. The main objective of this program is to enable the targeted employees to gradually move from economic dependency into self-sufficiency as they earn a steady income and become contributing taxpayers, while participating employers are compensated by being able to reduce their federal income tax liability. WOTC joins other workforce programs that help incentivize workplace diversity and facilitate access to good jobs for American workers.
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