IDES - Tax Credit Programs

Tax Credit Programs

Tax Credit Programs

​​Tax Credit Programs


 Overview

Employers that hire economically disadvantaged workers may receive federal tax credits of up to $2,400 for short-term welfare recipients, and ex-felons under the Work Opportunity Tax Credit program (WOTC) or up to $9,000 over a two-year period for long-term public assistance recipients. The credit can be as high as $9,600 per veteran for for-profit employers or up to $6,240 for tax-exempt organizations.​

Questions? The WOTC National Office has created a new e-mail address: Ask.wotc@dol.gov.

 Programs

​Click on the links below to learn more:
Illinois Veterans Jobs Credit is 20 percent of qualified wages paid during the taxable year to an employee who is a “qualified unemployed veteran”, who was a member of the Armed Forces of the United States (including any reserve component) or of the Illinois National Guard that served on active duty on or after September 11, 2001 and has a DD-214 indicating a “Honorable” characterization of discharge. The Veteran was initially hired by you on or after June 1, 2012 and was employed by you for at least 185 days; or at least 31 days if that employee was unemployed for a total of six months or more during the one year period ending on the date he or she was hired.  The credit per year for wages paid to a particular employee may not exceed $5,000 for a “qualified unemployed veteran.”

 
The Veteran's Jobs Credit can be claimed by employers on income tax returns.
 
 
To file for the Veteran's Jobs Credit, please visit the Illinois Department of Revenue (IDOR) and file Income Tax Form 1299-D for corporations, Income Tax Form 1299-C for individuals, or Income Tax Form 1299-A for partnerships and S corporations.  For further questions, please contact IDOR for additional information.​  Link to instructions.

 Useful Links: