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8850 Form Compensation: What You Should Know

The Work Opportunity Tax Credit is available to businesses with 20 or more full-time equivalent employees who hire qualified employees who receive a minimum of 3,000 (for an individual and family) or 6,000 (for an individual and a couple with a family of four). For individuals with disabilities who are also required by law to be able to participate in a state program for the placement of individuals with disabilities, a work experience and orientation program in the form of a T-Square Works, and an independent living center that provide services that can facilitate independence (T-Square Works), an ROTC credit is available to employers with 17 or fewer fully compensated employees that provide a minimum of one month in an amount not to exceed 2,500. If more than one T-Square Works has an agreement with the state agency working under the State Job Investment Program, the credit is available to those employees of one employer. The following are examples of eligible employment positions: Employer/Work Opportunity Agency Worker Retail store worker Customer service representative for the Food and Drug Administration Health care salesperson Lambda Legal Services employee Lunch counter worker to a state agency processing applications for food stamps and/or welfare Food market worker at a state agency processing applications for food stamps or welfare Health care salesperson to the State Department of Employment and Workforce Development Employer/Department of Human Services Medical and dental assistant School counselor Student health aide Worker/Parent Association School principal The first 2,500 of an eligible employee's wages is used to pay a portion of the employer/work opportunity agency's share of any WIFE, which is typically 10% (not 4,000). The remaining 2,500 is then distributed to the work opportunity agency for the remainder of the employee work time. Employers cannot use their own personal WIFE to reduce the credit. The credit is available only for an employee's first 90 days. You can apply for a WIFE tax credit from your state tax return. The credit is available in addition to certain other credits and tax credits. For more information, consult your tax adviser.

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