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Procedures for Austaco Ltd. Work Opportunity Tax Credit Program

Procedures for Austaco Ltd. Work Opportunity Tax Credit Program. What is WOTC? WOTC stands for Work Opportunity Tax Credit. It is a Federal program designed to encourage companies to increase employment opportunities by offering financial incentive. Paperwork Process.

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Procedures for Austaco Ltd. Work Opportunity Tax Credit Program

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  1. Procedures for Austaco Ltd. Work Opportunity Tax Credit Program

  2. What is WOTC? WOTC stands for Work Opportunity Tax Credit. It is a Federal program designed to encourage companies to increase employment opportunities by offering financial incentive.

  3. Paperwork Process Your hiring process includes two forms – the IRS Form 8850 and the (TCQ) Tax Credit Questionnaire. These two forms need to be completed by everyapplicant or new hire. Applicants complete and sign both forms

  4. Example: If your location code is not in the upper right corner, please handwrite it before sending in the forms ABC_123 Must have Name, SSN, Address and State IRS Form 8850 The IRS Form 8850 is the form we send to the state office in order to reserve your tax credit. The state office requires an original signature. Please make sure you send the Original forms to TALX. New Hire signature

  5. Example: If your location code is not preprinted, please hand write it in space provided Location # ABC_123 Must have Name, SSN, Address and State (TCQ) Tax Credit Questionnaire The (TCQ) Tax Credit Questionnaire form gives us detailed information that is used to determine eligibility for the Tax Credit. Our Government Relations team uses this information to obtain the documentation needed for the Certification process. New Hire signature

  6. WOTC Survey and Declaration This form was introduced in the fall of 2009 to support a new targeted group added by the Federal Government to our WOTC program. This formis for the Disconnected Youth targeted group.

  7. Mail the required paperwork to TALX in the envelopes that have been provided. Please make sure you send all the Original forms to TALX. Please mail forms to TALX at least once a week.

  8. Attention DO NOT mail these forms to your corporate office. There is an address provided at the bottom of your TCQ (Tax Credit Questionnaire) and on the envelopes you received. It may delay the possible qualification of an eligible applicant. Mail the required paperwork to TALX in the envelopes that have been provided. Address to use when mailing

  9. Frequently asked questions : Who needs to complete a form? Every new hire -- on or before the job offer date. Does a rehire need to complete a form? Yes. A rehire can still qualify your company for a tax credit.

  10. What if an applicant refuses to complete the WOTC form? If the applicant refuses to complete and sign the form, make sure you have the Name, Social Security Number and Client Code on the form. Indicate the applicant refused, and mail both forms into our office.

  11. If you need additional supplies such as preaddressed envelopes… Email us at: tci_supplies@talx.com

  12. By working together, we will make this a successful program. If you should have additional questions please contact our client care line @ 800-578-6716. Thank you for your time!!

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