Learn how to apply for the Work Opportunity Tax Credit
The Ohio Department of Job and Family Services (ODJFS) and the Internal Revenue Service (IRS) are co-hosting a free Virtual Small Business Forum from 10:30 a.m. to noon on Aug. 24 to explain how small businesses can earn tax credits through the federal Work Opportunity Tax Credit (WOTC) program. The WOTC program offers a federal tax incentive for employers that hire individuals from targeted groups, including veterans, public assistance recipients, restored citizens, individuals with disabilities, and others.
“We encourage small businesses to take advantage of this opportunity to learn more about this program,” said ODJFS Director Matt Damschroder. “WOTC tax credits lower tax bills dollar for dollar. Applying is simple, and there is no limit to the number of new hires who may qualify.”
The tax credits range from $2,400 to $9,600, depending on the target group. Since October 2021, ODJFS has certified more than 100,000 WOTC applications. As a result, thousands of Ohio employers have received more than $240 million in tax credits.
The forum will be led by Ohio WOTC Program Administrator BJ Knutson and a representative from the IRS Stakeholder Liaison Office. To register and receive a link, please email [email protected].