Save Up to $250,000 for Your Business from Research and Development
Claim your R&D Tax Credit with Confidence
Maximize your savings and trust Asset Bull team of tax specialists to file your R&D Tax Credit with compliance in mind and in a timely manner – allowing you to get back to what you love doing.
What is the Work Opportunity Tax Credit?
The Work Opportunity Tax Credit (WOTC) rewards businesses for supporting diversity and inclusion in the workplace.
The Work Opportunity Tax Credit (WOTC) is a federal credit that’s available to employers that support diversity in the workplace via the hiring of select target groups and minority workers. The amount of the tax credit depends on which group that the worker belongs to, along with qualified wages paid per the number of hours worked. Employers that qualify as taxable can claim WOTC credits for one year previous and up to 20 years after the current year.
- We offer compliance-driven tax credit filing solutions. Retrieve up to $9,600 with our team of compliance specialists. We’ll even make sure that you’re not missing out on other tax credit filings like Employee Retention Credit (ERC) and Research & Development (R&D) while you’re filing for WOTC.
- Offering years of tax and financial experience. Our team of tax and finance specialists guarantees that your WOTC filing is timely and executed with compliance with IRS regulations in mind – saving you time, money, and resources from having to work with multiple organizations to file for the Work Opportunity Tax Credit.
How to Apply for WOTC
Step 1
Fill out the form above to start your application and determine if you qualify.
Step 2
Use our proprietary technology to securely upload all relevant documents and information to our tax credit team.
Step 3
We’ll take your information, prepare it and submit it for filing with the IRS with our secure and compliance-focused technology.
Why Work with Asset Bull?
Asset Bull allows business owners to unlock the full potential of economic relief programs and specialized tax incentives, like ERC.
We believe in a professional, accelerated approach to tax solutions for businesses and stand on our hassle-free promise to customers that their ERC filing will always be compliance-driven and accessible. Using proprietary technology, our U.S.-based ERC team provides experience and services that are second to none while focusing on fully maximizing your return. With offices from New York to Phoenix, we exist to maximize your ERC filing with compliance in mind.
- Specialist in Employer Retention Tax Credits – Always Up to Date on IRS Rules and Guidelines
- Proprietary StenTam OS, Tax-Technology – Maximizing Your Credit or Refund
- Fast File Processing – Industry Leading 12 Days to File
- Employer Compliance Dashboard – Keeping Clients Informed and Compliant
- Dedicated Account Manager – Here for You Every Step of the Way
- Integrated Audit Protection and Legal Support – Confidence and Piece of Mind
Common Questions About WOTC
The Work Opportunity Tax Credit (WOTC) is a federal tax credit available to employers who invest in hiring Americans from certain target groups who have previously faced barriers to employment.
The goal of this is to act as an incentive for employers to exemplify workplace diversity in return for a maximum tax credit. It is supposed to promote the hiring of American workers of a certain target group while providing a federal tax incentive to employers who hire them. Employers have until December 31, 2025 to file. The amount of the tax credit under the WOTC program depends on the target group the employee belongs to as well as qualified wages paid and hours worked. Taxable employers can carry the current year period’s unused WOTC back one year or forward 20 years.
The goal of this is to act as an incentive for employers to exemplify workplace diversity in return for a maximum tax credit. It is supposed to promote the hiring of American workers of a certain target group while providing a federal tax incentive to employers who hire them. Employers have until December 31, 2025 to file. The amount of the tax credit under the WOTC program depends on the target group the employee belongs to as well as qualified wages paid and hours worked. Taxable employers can carry the current year period’s unused WOTC back one year or forward 20 years.
The IRS has a select group of target groups and minorities that help your business qualify for WOTC, such as:
- Ex-felons who have been released within the last 12 months
- Recipients of benefits from Title IV of the Social Security Act (SSA)
- Veterans who have served over 180 days or were discharged sooner because of a service-connected disability
- Summer youth employees between the ages of 16-18 who are employed from no longer than May 1st to September 15th
- Applicants who qualify for supplemental security income (SSI) benefit
- Individuals who are long-term family help recipients or require temporary help for needy families (TANF)
- Designated community residents living in empowerment zones or rural renewal counties.
- Individuals who partake in SNAP under the Food and Nutrition Act of 2008
- A qualified long-term unemployment recipient
- Individuals referred after completing a rehabilitation program
When looking into employer eligibility for the WOTC program, there are a few qualifications businesses must meet. Employers must verify that the new hire was part of the target group in order to claim work opportunity tax credit.
