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The Welfare to Work (WtW) credit provides businesses with an incentive to hire long-term family assistance recipients. This is a two-year credit against Federal Taxes, up to $3,500 for the first year and $5,000 for the second year, for each new hire. Businesses do not have to be located in an Empowerment Zone (EZ), Enterprise Community (EC), or Renewal Community (RC) to qualify for this credit. They can claim the credit if they pay or incur qualified wages (during the first 2 years of employment) to a long-term family assistance recipient who began work after December 1997 but before January 1, 2004. A State Employment Service Agency must certify employee is in targeted group. This incentive applies only to new hires.
(please refer to IRS Forms 5884, 8850 & 8861)
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