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Video instructions and help with filling out and completing Why 8850 Form Credits

Instructions and Help about Why 8850 Form Credits

Hi I'm Kelly get would pay smart payroll services I'm Sean per Baker with gifts CPAs I'm we're here to present work opportunity tax credit better known as wattsy so what is wattsy wattsy is a federal tax credit available to employers who hire individuals from eligible target groups with significant barriers to employment live watching there's a potential for reduced tax liabilities employers hiring target groups may be eligible to reduce their federal income tax liability as much as $9,000 employers make the hiring decisions watsi reduces an employer's cost of doing business while helping those in need fine and retain good jobs you get to make the decision on who you're hiring for many other state agencies you have a list of people that you can hire from in this scenario you do the hiring and then finally the US economy benefits the success and growth of this income tax credit for private sector businesses is beneficial for all who participate while increasing America's economic growth and productivity so how does watse work any private sector business that hires a new employee from an eligible target group may apply for watse in addition the tax credit is available to certain tax-exempt organizations that hire new employees from the watsi veterans target group veterans long-term or short-term Temporary Assistance for Needy Families events Supplemental Nutrition Assistance Program recipients or food stamps designated community residents vocational rehabilitation referrals ex-felons Supplemental Security income recipients summer youth employees both the designated community residents and summer youth employees must come from a Koz so who is not eligible relatives and dependents of the employer former employees regardless of how long it has been since they last worked for the employer so if you're just finding out about watse and you have recently hired...

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