|
SIDEZ Incentives - Detailed Information Work Opportunity Tax Credit (WOTC) Organizations may earn up to $ 2,400 against Federal taxes for businesses for each new hire from groups that have higher unemployment rates or other special employment needs, including: youth 18-24 who live in an empowerment zone (EZ), empowerment community (EC) or a renewal community (RC). Businesses do not have to be an EZ, EC, or RC to qualify. This incentive cannot be combined with the Welfare to Work credit (WtW). State Employment Service Agency must certify that the employee is in the targeted group.
***The above information is available in IRS Publication 954. |