SNAP Recipients
Recently, we wrote an article, outlining the nine Work Opportunity Tax Credit (WOTC) target groups. Here we’ll be focusing on one of the higher volume target groups, SNAP or what was formerly known as food stamp beneficiaries. SNAP participants can qualify your company for as much as $2400 per eligible hire.
The requirements to qualify are twofold:
- Candidates must be 18 to 39 years of age and a member of a family receiving SNAP benefits.
- They received benefits either a) six months prior to their hire date, or b) at least three of the five months preceding their start date.
SNAP, stands for Supplemental Nutritional Assistance Program. Last year, it was awarded to over 44 million Americans nationwide. Among this widely diverse group are workers with secondary jobs, single parents, military families and persons with disabilities. SNAP has aided people of all walks of life at one time or another, including notable celebrities like Bruce Springsteen and Flipboard CEO Mike McCue.
As one of the most commonly-qualified WOTC segments, in 2016, 1.8 million SNAP recipients qualified for WOTC credit. That means employers, nationwide, potentially earned up to $4.3 billion last year from this target group alone. With so many Americans receiving SNAP benefits, you’d be surprised just how many eligible employees you hire. To learn more, check out our tax credit calculator to see what you could earn or give us a call at 563-583-2115.