Don’t overlook business tax credits
Do you employ a disabled veteran, a former inmate or high school student on summer break? If so, your company could claim up to $9,600 per employee under the Work Opportunity Tax Credit (WOTC) Program. At IPS, our software now offers seamless tax credit research, application processing and compensation to help you take advantage of these offerings.
Many companies employing dozens of hourly workers or specializing in high-turnover industries (food service, retail, manufacturing, healthcare, etc.) are unaware of this business tax credit. In fact, each year millions of dollars in federal and state tax credits are unclaimed because employers either don’t know they qualify or the application process is too complicated for them to complete.
“With this new offering, recovering business tax credits is simplified,” says John Feaman. “It’s a value-added service that benefits every one of our clients currently using the onboarding solution for new hires. Businesses are trying to retain employees now more than ever and this is an opportunity for them to earn tax credits.”
Want to learn more about how we can help your business? Contact your IPS representative.