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WOTC - I understand this is a tax credit program designed for

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employers. Is this tax...
WOTC - I understand this is a tax credit program designed for employers. Is this tax credit applicable to payroll taxes?
Submitted: 4 years ago.Category: Tax
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Answered in 14 minutes by:
8/16/2013
Tax Professional: Megan C, Certified Public Accountant (CPA) replied 4 years ago
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16,581
Experience: Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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Customer:

Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.

Customer:

How are you today?

Customer:

According to the IRS website, "After the required certification is secured, taxable employers claim the tax credit as a general business credit against their income tax."

Customer:

The WOTC is a credit against your income tax, therefore it cannot be used to offset payroll taxes

Customer:

You can read about the credit on the IRS website, Here

Customer:

Do you have any further questions about this? If not, please rate my response as "excellent" so that I may receive credit for assisting you today

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Tax Professional: Megan C, Certified Public Accountant (CPA) replied 4 years ago
Dana,

I see we had trouble connecting in chat. Please take a moment to review my response. If I have addressed your concern, please rate me as "excellent" so that I may receive credit for assisting you today. Otherwise, please reply below. Thanks for being a valued JA customer.
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Tax Professional: Megan C, Certified Public Accountant (CPA) replied 4 years ago
Thanks for allowing me the opportunity to help you. Please let me know if I can be of any further assistance to you in this matter. I really enjoyed working with you – please feel free to request me again when you come back to ask another question. Simply enter "MyVirtualCPA" in the subject of your question Thanks again for being a JustAnswer customer
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Tax Professional: Megan C, Certified Public Accountant (CPA) replied 4 years ago
,
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Megan C
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
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