You read that right! Your business can earn up to a $9,600 tax credit for each new person you hire. How? The Work Opportunity Tax Credit (WOTC) is a federal tax credit that encourages employers to hire people facing barriers to employment. Qualifying individuals include some veterans, individuals who have received government assistance through various programs, or simply those who have been unemployed for an extended period. You’ll have a lower cost of doing business through your reduced federal income tax liability. And thanks to your help, qualifying individuals will move from economic dependency to self-sufficiency, which has a lasting positive effect on your business and in our communities. Four Important Things You Must Know. Employers can receive up to $9600 for every new hire Only 2 pieces of paper are required to apply for the credit The OregonTaxCredit team is dedicated to helping business owners receive this credit Submitting forms using the online portal is fast and easy Visit OregonTaxCredit.org and submit your business information using the web form at the bottom of the page and our team will be happy to share the details of this program and start saving you money today! Call OregonTaxCredit team at 503-947-1670, or email us at Oregon.WOTC@oregon.gov |
I Filed a Tax Extension– Now What?
Filing a tax extension can provide much-needed breathing room during tax season. However, it’s essential to understand what comes next to avoid penalties and stay
