Work Opportunity Tax Credit (WOTC) Subscription Service

For years, vendor services for the Work Opportunity Tax Credit (WOTC) program has had very little innovation and a stagnant pricing approach. Clients typically pay either a contingency based or per certification fee for a vendor to manage its WOTC program.

However, Walton is offering something unique to the tax credit marketplace —  the WOTC program as a subscription service. This flexible offering, which allows employers the option of taking an entire WOTC program in-house (with up to a 50% reduction in fees) or pursuing a “hybrid” model, in which the client only handles a couple easy-to-use workflows in-house, are now options for our clients. While all businesses can benefit, companies who hire more than 10,000 people per year and who perform their WOTC screening online can see significant costs and savings benefits. This is a major change to the WOTC industry and something all employers should consider.

A couple recent technological trends have led Walton in this direction, including:

  • With the rise of Applicant Tracking Systems (ATS), screening for WOTC through and ATS has driven down the costs of processing considerably, and when factored with the states accepting electronic signatures, the costs of processing WOTC have dramatically decreased in recent years.
  • A recent internal study showed that in more than 80% of the cases, no backup documentation is needed to substantiate a WOTC certification. The 2 largest groups, SNAP (formerly known as food stamps) and TANF (long-term welfare), can be substantiated directly by the states, and the Veteran Category is increasingly either being confirmed by the states or through outside databases.

Walton’s system for managing this process, NetCentives™, is the industry’s best secure, cloud based intelligence system. Innovative tracking and compliance reporting ensures that companies have WOTC program management capabilities, with full HRIS systems integrations.

  •  Context Sensitive Reporting
  • Always-On Reporting
  • Data Visualizations
  • Data Mining Capabilities
  • Developer Portal and REST API
  • Flexible Approaches to TCI Processing, Compliance, and Administration
  • Business Intelligence Systems
  • Mobile Applications

Additionally, in tandem, with daily hire/payroll information, our reporting is Always-On for updated visibility into your tax credit program, providing a proactive approach to compliance for quick resolution of emerging issues.

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