CMS’s Brian Kelly answers your questions about the Work Opportunity Tax Credit.
Today’s WOTC Wednesday question: Is it Worth it to do the Work Opportunity Tax Credit?
CMS Responds: Is it Worth it for Employers to do the Work Opportunity Tax Credits? I look at it as absolutely! We know statistically over the last 20 years of performing WOTC services that 10-15% of the workforce qualifies for the WOTC program. So, if we have 100 new hires per year, we know 15% of them qualify we say the average tax credit is $2,000. That’s $30,000 in tax credit savings per year. So, absolutely, take advantage of the program.
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