Engineered Tax Services, Inc., the country’s largest licensed tax credits and incentives advisory firm, announced today that it has entered into a partnership with WOTC.com, an enterprise owned by TC Services USA, Inc., that enables businesses to take advantage of Work Opportunity Tax Credits.
WEST PALM BEACH, Fla. (PRWEB) May 19, 2021
Engineered Tax Services, Inc. (ETS), the country’s largest licensed tax credits and incentives advisory firm, announced today that it has entered into a partnership with WOTC.com, an enterprise owned by TC Services USA, Inc., that enables businesses to take advantage of Work Opportunity Tax Credits (WOTCs). This federal tax program rewards companies that hire certain targeted groups that have consistently faced significant barriers to employment.
ETS is a licensed engineering firm with over 150 employees; it provides specialty tax services to its diversified client base of several thousand private CPA firms and their related clients in the businesses of real estate, manufacturing, and energy, helping them obtain the full benefit of federal, state, and local tax credits and incentives.
Employers can claim WOTCs until December 31, 2025. The program rewards the hiring of qualified IV-A (Temporary Assistance for Needy Families) recipients; qualified veterans; ex-felons; designated community residents; vocational rehabilitation referrals; summer youth employees; Supplemental Nutrition Assistance Program (SNAP) recipients; Supplemental Security Income (SSI) recipients; Long-Term Family Assistance recipients; and Qualified Long-Term Unemployment recipients.
Using geographic incentive credits, the federal government has designated certain economically depressed areas as tax advantage areas, or Empowerment Zones. If a business is located in one of these areas and employs individuals living in the same area, it can earn credit against its federal tax liability. The WOTC Tax Credit is a dollar-for-dollar tax credit (not a percentage) of IRS taxes owed.
“We’ve found an ideal partner in WOTC.com,” said Julio Gonzalez, CEO of Engineered Tax Services. “Work Opportunity Tax Credits are a wonderful way to help the disadvantaged in our society and encourage the employers who hire them. Through our partnership with WOTC.com, we’ll be able to refer clients we encounter in our far-reaching accounting work who would be eligible for WOTCs and whom WOTC.com could benefit, thereby pushing the American economy forward.”
Rose Markowits, WOTC.com’s Executive Officer, remarked: “We’re thrilled to join forces with ETS as a strategic partner. Our mission is to deliver the benefits of WOTC to the widest audience possible. The WOTC program not only improves the nation's unemployment levels, it affords business owners the incredible opportunity to earn between $2,400 and $9,600 for each eligible new hire. For example, a mid-sized home care agency or staffing firm that hires about 30 new hires per month can expect a WOTC tax credit of more than $250,000 annually.“
She added: “Every year, employers claim over one billion dollars in tax credits under the WOTC program! By having access to ETS’ incredible pipeline of accounting and tax business, we’re going to help employers lift up a very deserving section of the American workforce.”
About Engineered Tax Services
Engineered Tax Services, Inc. (ETS) is the only licensed engineering firm providing specialty tax services to CPA firms and their clients. As advocates for America's small and mid-sized businesses, ETS helps CPA firms add value to their client relationships by offering sophisticated strategies like cost segregation, the research and development tax credit, and other specialized tax credits and incentives, allowing them to retain more working capital and drive profitability.
WOTC.com, a subsidiary of TC Services USA, Inc., is dedicated to delivering the benefits of Work Opportunity Tax Credits to the widest possible customer base. With Rose Markowits as Executive Officer, it is comprised of an advanced team of tax credit professionals with an array of extensive knowledge about claiming credits. Because WOTCs are its sole focus, it has become an expert and leader in its field.