Did you know that thousands of dollars in business tax credits goes unclaimed each year? Many companies forego the complicated process, but it doesn’t have to be time consuming or a challenge when you partner with IPS.
Our technology can help guide the screening and filing process and streamline Work Opportunity Tax Credit (WOTC) programs. Employers who hire hourly workers or specialize in high-turnover industries (food service, retail, manufacturing, healthcare, etc.) are often unaware of this business tax credit.
Here’s an example of how it works:
- A company has 500 employees and experiences 100 percent turnover
- Of the 500 employees, 15 percent (or 75 employees) qualify for tax credit
- The credit is worth approximately $1,000 per employee
- 75 employees x $1,000 = $75,000 in annual tax credits
“IPS software offers seamless tax credit research, application processing and compensation to help you take advantage of these offerings,” says John Feaman, IPS President. “Our experienced team provides all the help you’ll need from answering a question and understanding “government speak” to researching new federal and state incentives.”
Get the tax credits your company or non-profit deserves. Contact your IPS representative to help get you started.
Did you Know? Work Opportunity Tax Credit (WOTC)
You may qualify for up to $9,600 tax credit if you employ people who fit into these categories:
- Disabled or unemployed veteran
- Vocational rehabilitation referral
- Summer youth
- Ex-offender
- Supplemental Security Income SSI recipient
- Food stamp recipient (SNAP)
- Designated community resident
- Long-term unemployed
- Temporary Assistance for Needy Families (TANF) – up to a $9,000 credit