alliantgroup today announced that it has expanded a key service line that will help put unemployed and disabled veterans back to work. This expands alliantgroup’s national footprint of hiring credits and incentives overall.
U.S. businesses can qualify for a number of valuable federal and state tax incentives for hiring unemployed and disabled veterans or members of historically disadvantaged groups. alliantgroup is expanding its hiring credits and incentives to assist companies in identifying and properly making claims for these incentives.
“For businesses that are doing the right thing, for those that are doing right by our veterans, our government offers substantial tax benefits in the form of incentives such as the Work Opportunity Tax Credit,” said Rizwan Virani, alliantgroup Senior Vice President. “I encourage any company that has hired veterans or members of historically marginalized groups to look at WOTC and other available incentive programs.”
“Programs like the WOTC are of immense importance in getting our veterans back to work and in bringing them into our economy,” said Dhaval Jadav, alliantgroup CEO.
The Work Opportunity Tax Credit (WOTC) is among the most valuable of these types of tax incentives. WOTC is designed to benefit employers that hire individuals facing significant barriers to employment. It is available to businesses that hire unemployed or disabled veterans, the long-term unemployed, and recipients of certain federal assistance programs, among others. Depending on the target group a new hire belongs to, an employer can reduce their federal income tax liability by up to $9,600 per each individual hired, and can claim an estimated $1 billion each year from the WOTC.
For more information about this credit, read here.