Hire someone? Fill forms for $2400-$9000 tax credit online

Agency for Workforce Innovation Director Cynthia R. Lorenzo today announced that employers can apply for a federal Work Opportunity Tax Credit (WOTC) using a new online system that can dramatically speed up the approval process.

“The Work Opportunity Tax Credit allows employers hiring workers from several target groups, including veterans and people receiving several types of public assistance, to receive from $2,400 to $9,000 in tax savings for each eligible worker added to the payroll,” said Director Lorenzo.  “Our new automated system helps Florida’s employers take advantage of this valuable tax savings as they help Floridians get back to work, a win-win for businesses, families and communities.”

The electronic WOTC application process saves employers time and money by eliminating the need to mail paper copies of applications to AWI. Employers are notified via email if their application is accepted or if additional information is needed, and can monitor their applications’ progress on the agency’s website at www.floridajobs.org. Using the agency’s secure online application process can also reduce the time it takes to receive a determination.

In the most recent federal fiscal year, October 1, 2009 to September 30, 2010, nearly 54,000 WOTC certifications were issued for a potential tax savings to Florida employers of more than $129.5 million. With the new, easier e-WOTC system, the agency hopes an even greater number of employers will take advantage of this federal tax credit.

A new video explaining the e-WOTC process is available on the agency’s website, www.floridajobs.org, under “Quick Links – How-to Videos.”  More information on WOTC, including eligibility requirements and Frequently Asked Questions, is available online at www.floridajobs.org/workforce/wotc.html.

Related posts:

1. Crist signs unemployment benefits legislation
2. Florida unemployment rate up to 11 percent; over 98,000 unemployed in Broward
3. Kerry, Klein introduce bill giving small businesses tax credit towards salaries for reservists overseas
4. New extended unemployment compensation available in Florida
5. Schools, students, teachers can apply online for green awards from Florida

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Posted by Andrea Freygang on Nov 4 2010. Filed under Broward County, Business, Employment, Local news, Tallahassee. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry