Renewed Work Opportunity Tax Credit
As businesses face a tough hiring market, the IRS wants to remind employers of the work opportunity credit available, now extended through 2025. This credit encourages employers to hire workers from ten targeted groups that have typically faced barriers to employment.
The article below details the various groups eligible and the procedures for certifying the employer’s eligibility for the credit. Depending on the type of employee hired, combined with the length of employment, the credit could be worth 25% – 50% of their 1st and possibly 2nd year of wages.