The State’s Unemployment Insurance Agency has a tip for employers struggling to fill vacancies. There couuld be some financial help available in certain situations.
The Work Opportunity Tax Credit (WOTC) program continues to grow in Michigan with more and more employers participating in the program and taking advantage of the federal tax credits that are available when you hire workers from targeted groups that normally have trouble finding work.
Through the first half of this year, the certification numbers are already at 52,862. That compares to 61,713 certifications in 2020, and 84,285 in 2021.
WOTC staff have been working hard to reduce the certification backlog. Since April 2022, the backlog is down by 42.8 percent, which has been instrumental in increasing the number of applications that are certified.
To make the certification process go smoothly for you, employers and service providers should remember five things when filing for the federal tax credit:
The new hire is not a rehire.
The new hire had indicated he/she is a member of a target group(s).
A target group employee is hired within a specified timeframe.
Include supporting documentation.
Be sure applications 8850/9061 are submitted together and both forms have no missing information.
To learn more about WOTC and the targeted hiring groups, our webpage with resources and information explains this outstanding program that can help you with your hiring needs.
