BLYMAS Inc. -- Tax Credit Services

The Work Opportunity Tax Credit or WOTC program is an incentive program and provides businesses with a federal income tax credit to hire individual from targeted groups that have a particularly high unemployment rate or other special employment needs. Your business does not have to be in an empowerment zone, enterprise community, or renewal community to qualify for this credit. The WOTC credit is calculated on “qualified first-year wages” and has a maximum credit of $2,400 per eligible employee. (For more information: IRS Publication 954)

The Welfare-to-Work tax credit program rewards employers with an incentive to hire long-term family assistance recipients. It works in combination with the WOTC program and the credit is based upon the “qualified wages” during the first two years of employment. The program has a maximum credit potential of $9,000 for two years per eligible employee.

• No geographic boundary
• New employees hired
• $2,400 WOTC credit
• $9,000 WtW two year credit
• Any business
• Newly hired people in targeted groups

• Federal Income Tax credit
• Pass through credit to LLC and S Corporations
• One year carry back and Twenty year carry forward

• New Hire application fills out Forms 9061 and 8850 from our new website.
• On first day of work, new hire signs and dates 8850 form, manager signs
“For Employers Use Only” section.
• Gather completed forms with original signatures, copy of Social Security Card and some form of ID and mail to Blymas no less than once a week.
• Each eligible employee is certified by state office and Blymas begins to track
wages.





	The Work Opportunity Tax Credit or WOTC program is an incentive program and provides businesses with a federal income tax credit to hire individual from targeted groups that have a particularly high unemployment rate or other special employment needs. Your business does not have to be in an empowerment zone, enterprise community, or renewal community to qualify for this credit. The WOTC credit is calculated on “qualified first-year wages” and has a maximum credit of $2,400 per eligible employee. *(For more information:* IRS Publication 954)** The Welfare-to-Work tax credit program rewards employers with an incentive to hire long-term family assistance recipients. It works in combination with the WOTC program and the credit is based upon the “qualified wages” during the first two years of employment. The program has a maximum credit potential of $9,000 for two years per eligible employee. • No geographic boundary • New employees hired • $2,400 WOTC credit • $9,000 WtW two year credit • Any business • Newly hired people in targeted groups • Federal Income Tax credit • Pass through credit to LLC and S Corporations • One year carry back and Twenty year carry forward • New Hire application fills out Forms 9061 and 8850 from our new website. • On first day of work, new hire signs and dates 8850 form, manager signs “For Employers Use Only” section. • Gather completed forms with original signatures, copy of Social Security Card and some form of ID and mail to Blymas no less than once a week. • Each eligible employee is certified by state office and Blymas begins to track wages.



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