The Work Opportunity Tax Credit is a Federal income tax credit provided to private-sector businesses for hiring individuals from nine target groups who have consistently faced barriers to employment.
Federal income tax credit for hiring employees from nine target groups with credits in the following amounts:
• $2,400 generally for each new adult hire (who meets specific criteria)
• $1,200 for each summer youth hire
• $4,800 for each new disabled veteran hire
• $9,000 for each new long-term Temporary Assistance for Needy Families (TANF) recipient hired over a two-year period
Qualified hires must fall into one of the nine target groups to be eligible for tax credits.
For more information, go here.