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Frequently Asked Tax Questions

Child Care Credit/Other Credits - Other Credits


Rev. date: 1/2010


I heard there is a credit for hiring certain groups of workers, such as veterans or ex-felons. Is that the same thing as the Work Opportunity Tax Credit?

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Pre-Screening Notice and Certification Request for the Work Opportunity Credit
Pre-screening Notice and Certification Request for the Work Opportunity Credit
Veterans
Work Opportunity Credit

The Work Opportunity Credit provides an incentive to hire individuals from targeted groups that have a particularly high unemployment rate or other special employment needs. In most cases, the credit can be as much as 40% of the "qualified first year wages." 
An individual is a member of a targeted group if he or she is a:
An individual is not considered a member of a targeted group unless your state employment security agency certifies him or her as a member. This certification requirement can be satisfied in either of two ways:

Rev. date: 3/2010


What is the Health Coverage Tax Credit and how can I learn more about it?

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The Health Coverage Tax Credit (HCTC) is a refundable tax credit that pays 80% of qualified health plan premiums for certain trade-affected workers, retiress, and their families from May 1, 2009 through December 31, 2010. The HCTC is a unique tax credit that individuals can receive either monthly as their health plan premium becomes due or yearly on their federal tax rerturn. You can learn more about this valuable tax credit on the Health Coverage Tax Credit (HCTC) Program pages on this website.