CMS Work Opportunity Tax Credit Newsletter February 2023
In this issue:
- HR.com Speaks with Brian Kelly About iRecruit, and the Work Opportunity Tax Credit
- Why Switch to a Paperless WOTC Screening Process
- Tips to Maximize WOTC Participation and Increase Savings in 2023
- Expired POAs
- WOTC Wednesday: Does CMS’s WOTC Software Check the Status of Applications?
- Understanding WOTC’s Target Groups: Qualified Veteran, Disabled or Unemployed Veteran
- Work Opportunity Tax Credit Statistics for Georgia
Brian Kelly, Managing Partner of CMS iRecruit, speaks with Sue Morton of HR.com Live, to discuss how iRecruit’s unique applicant tracking software facilitates seamless integration AND taps into additional talent pools that give tax service credits using WOTC. In the interview Brian explains to Sue what makes iRecruit different from other ATS systems and how iRecruit provides a unique experience.
CMS’s online web link screening system screens your WOTC new hires with ease. The benefits of using the online screening system include…
With 25+ years of experience in Work Opportunity Tax Credit screening and processing, we would like to offer you some tips to make sure you get the maximum tax credit available in 2023. On average the United States spends $5 Billion each year on this program. How much did you get?
POA Forms Expired at End of 2022
If your Power of Attorney (POA) document for the Work Opportunity Tax Credit expired at the end of 2022, Lisa and Sean will be reaching out to you to renew over the next few weeks with a new one. If you have any questions or concerns, please contact us at 800-517-9099.
CMS’s Brian Kelly answers your questions about the Work Opportunity Tax Credit in our weekly video Q&A series #WOTCWednesday.
Other Recent #WOTCWednesday Questions Answered:
- Can I get a report on how many people were qualified for WOTC?
- What Are the WOTC Screening Options CMS Offers?
- Can I Use WOTC Forms That Were Never Submitted?
Submit your question for Brian here.
New hires who fall under one or more of WOTC’s Target Groups may make you eligible for a WOTC Tax Credit. Target Group #2 is the Qualified Veteran. 101,806 individuals were hired with certification from this group in 2021, 4.89% of the total.
A “qualified veteran” is a veteran who is any of the following:
- A member of a family receiving assistance under the Supplemental Nutrition Assistance Program (SNAP) (food stamps) for at least a 3-month period during the 15-month period ending on the hiring date
- Unemployed for periods of time totaling at least 4 weeks (whether or not consecutive) but less than 6 months in the 1-year period ending on the hiring date
- Unemployed for periods of time totaling at least 6 months (whether or not consecutive) in the 1-year period ending on the hiring date
- Entitled to compensation for a service-connected disability and hired not more than 1 year after being discharged or released from active duty in the U.S. Armed Forces or
- Entitled to compensation for a service-connected disability and unemployed for periods of time totaling at least 6 months (whether or not consecutive) in the 1-year period ending on the hiring date
- The maximum tax credit available for hiring a Qualified Veteran is $9,600.
California hired the most Qualified Veterans last year with 9,149 new hires qualifying under that target group.
In 2021 the state of Georgia issued 80,549 Work Opportunity Tax Credit certifications. Georgia issued 3.87% of all WOTC Tax Credits in 2021, SNAP Recipient was Georgia’s highest tax credit target group with 89.63% of certifications for that category. See historical data on Georgia and the Work Opportunity Tax Credit.
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Related: WOTC Newsletter Archive