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applying for WOTC: federal IRS Work Opportunity Tax Credits

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Marcellakates
Posts: 7
Joined: Wed Feb 21, 2018 9:07 am

applying for WOTC: federal IRS Work Opportunity Tax Credits

Post by Marcellakates » Tue Jul 31, 2018 11:53 am

We are trying to get our heads around the administrative process for using and applying for WOTC: federal IRS Work Opportunity Tax Credits for certain qualifying groups of job applicants/new hires. There are firms out there who will handle the administrative side of WOTC for a fee or a portion of the tax credit. I would love to know how other MAPP employers are handling the WOTC process, and if they are paying outside services or consultants to do the paperwork, who are they using?

With Appreciation,

Linda

Linda Wilkins
Manager of Human Resources
1000 Arlington Circle Akron, OH 44306-3973
330-786-3067
lwilkins@ferriot.com

allplastics
Posts: 15
Joined: Tue Feb 27, 2018 3:24 pm

Re: applying for WOTC: federal IRS Work Opportunity Tax Credits

Post by allplastics » Tue Oct 16, 2018 12:48 pm

Linda-
I know many payroll services companies like Paycor, ADP have built-in service for WOTC for fees of around $1,700-$2,000 again, its depending on your company size.

Good Luck!

Wescon2810
Posts: 2
Joined: Thu Jun 21, 2018 11:02 am

Re: applying for WOTC: federal IRS Work Opportunity Tax Credits

Post by Wescon2810 » Fri Oct 26, 2018 12:28 pm

We just moved to Paycom and they will do it for us taking out a 20% fee from the credit, the software will also alert us of who qualifies and what documents are needed to complete the process. If you utilize insurance brokers you could ask them for referrals, our brokers, USI, always amaze me on what they will help with.

mdevereux@muellerprost.com
Posts: 2
Joined: Wed Aug 22, 2018 1:40 pm

Re: applying for WOTC: federal IRS Work Opportunity Tax Credits

Post by mdevereux@muellerprost.com » Fri Oct 26, 2018 12:33 pm

Hi Linda,

There are a number of payroll and PEO firms that will process the WOTC applications, which must be filed in 28 days of hire. Our firm has a strategic relationship with a firm that charges a percentage of the credits claimed.

This is the only tax credit that professional firms are allowed to charge a % or have otherwise contingent fees. It is also one of the only credits that will offset AMT regardless of company size (companies with less than $50 million in average sales can also offset the AMT with the R&D tax credit).

Please let me know if you'd like me to make an introduction or talk through the credit opportunity.

I'm happy to help.

Mike
mdevereux@muellerprost.com
314.406.8773 (cell)

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