What is the maximum amount of Work Opportunity Tax Credit (WOTC) for an employer who hires a qualified ex-felon?

The maximum amount of the Work Opportunity Tax Credit (WOTC) for an employer who hires a qualified ex-felon is $2,400. This tax credit is designed to incentivize employers to hire individuals from certain targeted groups, including ex-felons, who may face barriers to employment. By hiring qualified ex-felons, employers can claim this credit on their federal taxes, which helps offset some of the costs associated with hiring and training these individuals.

This amount is established under the regulations governing the WOTC program and reflects a specific incentive set forth to encourage job creation for those in this category. Understanding the benefits and specific amounts related to the WOTC can help employers make informed decisions about their hiring practices and take advantage of available tax incentives.