AKT recovers 50%-200% more tax credits than many of our competitors.

Our expertise: the work opportunity tax credit program

 

THE work opportunity tax credit program (WOTC):

The Work Opportunity Tax Credit program (WOTC) was set forth by the The U.S. Department of Labor and U.S. Department of Treasury, through the IRS. The goal of the program is to provide employers with tax credit incentives for employing and retaining individuals from targeted groups who are often faced with barriers when searching for employment. These newly hired individuals must be from 1 or more of 14 targeted groups:

• Veterans (5 definitions)

• Welfare Recipients (2 definitions)

• Food Stamp Recipients (2 definitions)

• People with Disabilities

• Social Security Disability

• Ex-Felons

• Long term Unemployment

• Empowerment Zone Residents

If retained in employment the employer is eligible for a Tax Credit; maximums of:

$9,600 Disabled Veteran (unemployed 6+mos.)

(Max basis: 1 year – 40% of 1st $24,000 earnings)

$9,000 for Welfare recipients

(Max basis: 2 year retention, 40% 1st year + 50% 2nd year)

$5,600 Unemployed Veteran (6+mos.)

(Max basis: 1 year – 40% of 1st $14,000/1 year)

$4,800 Disabled Veterans

(Max basis: 40% of 1st of $12,000/1 year)

$2,400 for 9 other groups (above)

(Max basis: 40% of 1st $6,000/1 year)

NOTE: Minimum retention for a partial tax credit of 25%: 120 hours

Minimum retention for a FULL tax credit of 40%: 400 hours

our process:

As a smaller firm, we can provide more tax credit dollars to our clients than our competitors.

• AKT strives to provide "Six Sigma" (99.6% error free) service to its clients.  We don't miss credits or neglect those that are difficult.

• AKT guarantees all tax credits will stand up to State or IRS audit. 

• AKT appeals State "denials" -  this is the difficult part many of our competitors don't do for clients.  There are no added fees, and AKT wins 60% of appeals for our clients. 

• AKT charges a contingency fee ONLY, a percentage of what we obtain for our clients. This contract keeps us devoted to our clients, but may be cancelled with a 60 day notice. We retain our clients by providing excellent service, not by contract.

• AKT never discloses client firm identities without specific permission (e.g. for reference purpose to a specific client prospect). We provide complete confidentiality to our client's new employees, including the reason for eligibility.

• The only thing we need from your business is IRS Form 8850, a document which certifies that your eligible employee is from a targeted group. AKT supplies the form and works diligently with your employees to complete it accurately. We only need you to mail or electronically submit the form to us- we take care of the rest.

the goal

We continuously aim to provide our clients with services designed to drive their organization towards success. As experts in the WOTC program, we can help you reduce your out-of-pocket costs and help those who have faced difficulties when finding employment. Although there are limitations on how many hiring credits you are able to claim, there is no limit on the number of eligible individuals that you hire. It is essential to use a trusted, complete and seamless screening process or you risk missing out on potential tax credits. That’s where we come in.