By taking advantage of the benefits offered by the Work Opportunity Tax Credit, employers have the opportunity to greatly reduce their federal tax liability or even eliminate it completely in certain cases. It is important to keep in mind, however, that the amount of tax credits received cannot exceed the total income tax liability of the business.

Even if an employer does not have any income tax liability, they can still apply for the WOTC. Any unused tax credits can be carried back up to 12 months or carried forward for up to 20 years on future tax returns. This flexibility allows employers to use their tax credits at a later date when they have a corporate income tax liability.

The reduction in federal tax liability can have a significant impact on the cost of doing business for employers. The savings achieved through the WOTC program can be utilized for business expansion or to support the core operations of the company.

By handling the administrative tasks related to WOTC tax credits in-house, you'll need to hire skilled staff solely dedicated to this process. This can significantly inflate your HR expenses. However, by entrusting your tax credit management and handling responsibilities to Quentelle, you gain access to cutting-edge technology, streamlined business processes, and substantial cost savings.

This is made possible because our experienced professionals, supported by the advanced automation platform capabilities of JK Payroll, can complete these tasks at a much faster pace, with greater accuracy, and at a lower cost to your organization. Additionally, you'll enjoy savings by eliminating the need for ongoing investments in updating and maintaining internal infrastructure required for in-house operations.

Even if a business has never previously taken part in the federal WOTC program, there is a significant likelihood that they may already have employees or will hire new candidates who qualify for this program. In most industries, approximately one in every five new employees is eligible for this valuable tax credit. However, certain industries may have an even higher rate of qualification.

According to data from the Department of Labor, in 2018 alone, a staggering 5.6 million new hires were made under the WOTC program. Considering the average eligibility rate of approximately 20%, this translates to a remarkable $2.5 billion in tax credits that eligible employers could claim during that period.

Are you missing out on valuable WOTC benefits because your organization is hesitant to allocate internal resources to this tedious and time-consuming process? Let Quentelle be your partner in maximizing your rightful WOTC opportunity, while freeing up your valuable resources and talent from the burdensome tasks of form completion, submission within deadlines, preparing documentation, and ensuring compliance.

With the IRS allowing only 28 days for the submission of required documents, traditional labor-intensive approaches to WOTC administration can be costly and prone to errors. Particularly when your company is hiring a large number of new employees, managing the WOTC paperwork can be overwhelming. This is where JK Payroll, in collaboration with Walton, comes in to assist employers in replacing their manual in-house WOTC process with an automated platform service.

JK Payroll's professional support and service for WOTC tax credits starts with a brief questionnaire integrated into the hiring process to identify all eligible candidates. The automated screening and onboarding process, utilizing the digital platform capabilities of JK Payroll, allows your company to eliminate the burden of in-house identification and processing of tax credits. This significantly reduces the time and effort demands on your HR teams, while ensuring your business reaps the maximum benefits of tax credits.