WHAT IT IS: Work Opportunity Tax Credit

SyncStream launches tax credit service powered by parent company, OnCentive

ACA reporting and compliance leader SyncStream Solutions LLC is excited to announce the launch of their integrated Work Opportunity Tax Credit service, powered by their new tax credit parent company, OnCentive.

The Work Opportunity Tax Credit (WOTC) is a federal hiring incentive available to employers, rewarding them for every new hire who falls within one of several eligibility groups. Depending on the qualifications, companies may be eligible to receive between $1,200 to $9,600 per qualified new hire.

The newly launched service will allow OnCentive to screen SyncStream clients’ new employees for WOTC eligibility and manage proper documentation, filing, and certification. OnCentive’s technology integrates directly with State Workforce Agencies, offering higher compliance and faster turnaround time for clients’ credits getting certified.

Read more on the Press Release.

Learn more about the Work Opportunity Credit:

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The OnCentive team makes capturing these WOTC credits simple and convenient:
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We take the burden off of your company’s shoulders and handle processing WOTC on your company's behalf. OnCentive verifies every new hire for eligibility, collecting the proper documentation and follow-up information from your employees qualified individuals.

OnCentive helps you receive the maximum credit available by increasing compliance:
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OnCentive’s technology integrates directly within the states' WOTC departments. This ensures higher compliance and a faster turnaround time for your credits getting certified

.OnCentive helps you make profitable hiring decisions:
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OnCentive can help you easily screen applicants for WOTC eligibility, allowing you to make better-informed, more profitable decisions.

OnCentive’s success is tied to your profitability:
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If we don't provide you with tax credits, you don't owe us anything! Operating solely on success fees means we are more committed to ensuring the highest compliance to get you the most certified credits possible.
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FAQs

How do I claim my WOTC credit?

An eligible employer must file Form 8850, Pre-Screening Notice and Certification Request for the Work Opportunity Tax Credit, with their respective state workforce agency within 28 days after the eligible new hire begins work.

For which tax years can the credit be applied?

Employers may claim the Work Opportunity Tax Credit for a total of two years. Employers who do not take the full credit amount because of the tax liability limitation may carry back one year or forward 20 years.

When should the WOTC form be completed?

By law, this form must be completed “on or before the day” you offer them a job. Many companies conduct this screening on the same day employees fill out their other new-hire paperwork. It cannot be completed later.

What are WOTC Targeted Groups?

Learn more about the targeted groups and the credit caps on this link.

Learn More about the SyncStream and the OnCentive Acquisition.

Read Press Release

SyncStream: ACA Compliance & Work Opportunity Credit

FAQs

SyncStream: ACA Compliance
& Work Opportunity Credit