The Federal Bonding Program and The Work Opportunity Tax Credit
Believe it or not, the Federal government wants you to find a job – and to help you do that, it has created two pretty big incentives for employers: The Federal Bonding Program and the Work Opportunity Tax Credit (WOTC). Most employers don’t even know about these programs, so you will have to be the one to educate them. Here’s what you need to know.
The Federal Bonding Program
This program provides free insurance to employers to protect them from employee theft. It covers any type of stealing – from forgery to larceny to embezzlement.
When you apply for a job, bring a bonding program brochure with you. This brochure tells employers what the program is and how to apply for it. Print the bonding program brochure, or get one from your Free to Learn instructor.
The Work Opportunity Tax Credit
This Federal tax credit actually reduces an employer’s tax liability for hiring someone who is in a difficult-to-hire group (such as welfare recipients, disabled veterans, or ex-felons). It basically puts money in an employer’s pocket – just for hiring you.
When you apply for a job, bring a WOTC brochure with you. This brochure tells employers what the tax credit is and how to apply for it. Get a brochure from your Free to Learn instructor, or print out your own WOTC brochure.