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Tax Credit Consulting: Work Opportunity Tax Credit Barre VT

Tax credits are often used to encourage activities that are considered beneficial to the society. The credits become political issues that reflect the goals of the Government as well as providing relief to deserving taxpayers. Read more.

H&R Block
(802) 479-9100
TWIN CENTER PLAZA SHOPPING CENTER 1284 RTE 302
BERLIN, VT

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Liberty Tax Service
(866) 871-1040
1197 Williston Rd
South Burlington, VT

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H&R Block
(802) 863-9999
155 DORSET ST
SOUTH BURLINGTON, VT

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H&R Block
(802) 479-9100
TWIN CENTER PLAZA SHOPPING CENTER 1284 RTE 302
BERLIN, VT

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Independent Tax Service Inc
(802) 863-2271
Chace Ml
Burlington, VT
 
H&R Block
(802) 288-8079
4 Carmichael St
Essex Junction, VT

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Misasi & Misasi PC
(802) 388-6307
11 Ct St
Middlebury, VT

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Alpha Omega Tax And Investment
(802) 878-6155
1 Market Pl Unit 22
Essex Junction, VT
 
H&R Block
(802) 442-3100
222 NORTH ST
BENNINGTON, VT

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Jacob Philip H Tax And Business Services
(802) 862-8889
12 Perrotta Pl
Burlington, VT
 
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Tax Credit Consulting: Work Opportunity Tax Credit

Work Opportunity Tax Credit

The Work Opportunity Tax Credit was extended to 2011 and provides tax credits to employers to encourage them to hire employees from targeted groups.

Work Opportunity Tax Credit

Tax credits are often used to encourage activities that are considered beneficial to the society. The credits become political issues that reflect the goals of the Government as well as providing relief to deserving taxpayers. The Work Opportunity Tax Credit is a good example of this type of Tax Credit. The credit was started in 1996 and has been extended by Congress and will remain in force until 2011. The Work Opportunity Tax Credit, often known as WOTC, encourages employers to hire workers that might otherwise find it hard to find employment.

The employees are called targeted employees. The groups of targeted employees include such groups as ex-felons and people receiving Food Stamps or other forms of Welfare. Other targeted groups were veterans on Food Stamps and members of families receiving various forms of public assistance. The program was politically motivated by the idea of moving more people from the welfare rolls to the workforce. This issue was very popular in the mid 1990's when the credit was begun and remains a hot political issue today.

In its original form the Work Opportunity Tax Credit was a set amount that could be claimed by the employer when he hired an eligible employee during the tax period. The new version allows a percentage of the employees earning to be claimed rather than a set amount. There are certain restrictions in place also. The employees can not be former employees in any way or manner. This is regardless of how long ago the employee had been employed or for how long. Family members of business owners were ineligible as well.

The program has received a great deal of support from the employment services of the various States. Many States pass out information to potential employers informing them of the credit, e...

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