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Frequently Asked Questions
For what tax credits would my business qualify?
Any business can take advantage of the Work Opportunity Tax Credit (WOTC) program! WOTC, a federal employee hiring initiative, was extended under the American Taxpayer Relief Act of 2012. Further changes were added with The VOW to Hire Heroes Act of 2011. WOTC is applicable in all 50 states. And there is more good news! Depending on your location and nature of your business, you may be eligible for further tax incentives from your city and state. These could add up to significant savings. US Tax Works 2.0 will be happy to provide you a free analysis of all potential tax credits (local, state and/or federal) for which your business would qualify.
How much time does it take to fill out the necessary paperwork?
The initial paperwork necessary to set up your business with US Tax Works 2.0 is minimal and will only take minutes to complete. The paperwork necessary to participate in the WOTC program will require an additional five minutes from your managers or supervisors who administer all the necessary paperwork for completion by job applicants. This paperwork must be completed and remitted to US Tax Works 2.0 on a regular and timely basis in order to comply with federal regulations.
How much does it cost to use US Tax Works 2.0's tax credit processing service?
US Tax Works 2.0's fee is based upon a percentage of the tax credits we are able to identify and collect for our clients. Our clients are not charged for any of our services until they realize the benefit of the credits.
What can I expect to receive from US Tax Works 2.0's tax credit processing service?
In addition to the business of identifying and processing the various credits themselves, US Tax Works 2.0 provides its clients with regular reports throughout the year updating them on their current tax credit status, amounts of credits they can expect when they next file, compliance reports (for businesses with multiple locations participating in the WOTC program) and others. We enjoy a fully transparent and close relationship with our clients. Our business is to make sure that our clients reap the maximum benefit possible from every credit program they qualify for. In order to do this, we are dedicated to keeping our clients vested in and aware of their tax credit potential at all times.
What is required of me?
It's easy – we provide your company a unique URL for your job applicants to login to our secure online application. They simply fill out the online form, sign it electronically, and the claim is submitted automatically to our office.
We review it and submit it to the appropriate state workforce agencies within one business day.
No mail, no fuss, no paper, no waiting – it’s all online – and you receive an automated confirmation when each application is completed. But if you prefer, we can still give you an all paper system.
What potential employees would make my business eligible for tax credits?
The list of those considered "disadvantaged" by various federal, state and city agencies includes, but is not limited to, the following:
Short-term Welfare recipients
Long-term Welfare recipients
Supplemental Security Income (SSI) recipients
Food Stamp/SNAP (Supplemental Nutrition Assistance Program) recipients (age 18 - 39)
Returning military veterans
Ex-felons hired within one year of conviction and/or release
Vocational Rehabilitation employment network referrals
Individuals who are in a period of unemployment that is at least 27 consecutive weeks and for all or part of that period have received unemployment compensation.
Ticket To Work employment network referrals and Indviduals age 18 - 39 who live in designated areas (Renewal Community Zone, Empowerment Zones or Rural Renewal Counties)
Summer youth age 16 - 17 who live in who live in designated areas (Renewal Community Zone, Empowerment Zones or Rural Renewal Counties)