IRS Form 8850, also known as the Pre-Screening Notice and Certification Request for the Work Opportunity Credit, is a form used by employers to request certification of an individual as a member of a targeted group for purposes of claiming the Work Opportunity Tax Credit (WOTC).
Employers must submit Form 8850 to the state workforce agency within 28 days after the eligible worker begins work in order to qualify for the tax credit. This form is an essential tool for businesses looking to hire individuals from specific target groups, such as veterans, ex-felons, and individuals receiving government assistance.
Irs Form 8850 Printable
Easily Download and Print Irs Form 8850 Printable
Form 8850 2024 2025 How To Fill And Download PDF Guru
When completing Form 8850, employers must provide detailed information about both the employer and the job applicant, including their names, addresses, Social Security numbers, and the targeted group they belong to. The form also requires the employer to attest that the information provided is accurate to the best of their knowledge.
Once the form is submitted to the state workforce agency, they will review the information provided and determine if the individual qualifies as a member of a targeted group. If approved, the employer will receive certification that can be used to claim the Work Opportunity Tax Credit on their federal tax return.
Employers can easily access and print Form 8850 from the IRS website or by contacting their state workforce agency. It is important to ensure that the form is completed accurately and submitted within the required timeframe to avoid missing out on potential tax credits for hiring individuals from targeted groups.
In conclusion, IRS Form 8850 is a vital document for employers seeking to claim the Work Opportunity Tax Credit for hiring individuals from specific target groups. By following the instructions provided on the form and submitting it to the appropriate agency in a timely manner, employers can take advantage of valuable tax incentives while also supporting the employment of individuals who may face barriers to finding work.