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Information about Form 5884, Work Opportunity Credit, including recent updates, related forms, and instructions on how to file. Employers file Form 5884 to claim the work opportunity credit for qualified 1st- or 2nd-year wages paid to or incurred for targeted group employees during the tax year.
Form (Rev. March 2021) Department of the Treasury Internal Revenue Service. Work Opportunity Credit. Attach to your tax return. Go to www.irs.gov/Form5884 for instructions and the latest information. OMB No. 1545-0219.
Use Form 5884 to claim the work opportunity credit for qualified first- and/or second-year wages you paid to or incurred for targeted group employees during the tax year. Your business doesn't have to be located in an empowerment zone or rural renewal county to qualify for this credit.
Here's how to fill out and file Form 5884 to claim the Work Opportunity Tax Credit for your business.
Form 5884 is used to claim the credit for hiring individuals who are members of specific targeted classes and is filed with your business tax return. Qualified wages for purposes of calculating the credit are generally limited to $6,000 per worker.
Generally, an employer elects to take the credit by filing IRS Form 5884, Work Opportunity Credit. However, a tax-exempt organization that hires an employee in the WOTC veteran target group...
To claim the Work Opportunity Tax Credit, you will complete Form 5884 and include it with Form 3800 when you file your business taxes.
Form 5884: Work Opportunity Credit. The Work Opportunity Credit (WOTC) is a federal tax credit offered by the Internal Revenue Service (IRS) to businesses that hire employees from specific groups facing employment challenges.
The Work Opportunity Tax Credit gives employers incentives for hiring disadvantaged workers. Learn how to screen employees and apply for the credit.
Claim the tax credit: To receive the tax credits, submit IRS Form 5884 when filing your annual tax returns at the end of the year. Tax-exempt organizations will need to submit Form 5884-C.