Work Opportunity Tax Credits (U.S. DOL)
Federal tax credits that encourage employers to hire people that usually have a difficult time being hired (ex-felons, disabled veterans, etc.).
What's the value to me?
If you are hiring people and looking to see if you qualify for tax credits.
Description & Overview
Federal tax credits that are designed to encourage employers to hire individuals who have consistently had the most difficulty in securing employment.
- Maximum tax credit per new hire for most of the Work Opportunity Tax Credit groups is $2400.
- Maximum tax credit for the Disabled Veteran group is $4800,
- Maximum tax credit for the Summer Youth group is $1200
- Maximum tax credit for the Long-Term Family Assistance Recipient group is $9000 (over a two year period).
Individuals who are qualified include:
- Temporary Assistance to Needy Families (TANF) recipients
- Veterans who receive food stamps
- Disabled veterans
- Designated Community Residents aged 18-39 residing in an Empowerment Zone
- Individuals referred from an approved state or federal vocational rehabilitation program
- Summer youth
- Food stamp recipients
- Supplemental Security Income recipients
- Long-term Family Assistance recipients