Trusaic is a leading HR and compliance technology company that focuses on advancing social good in the workplace and solving HR’s most complex challenges across people, data, and analytics. Our mission is to create a better working world. We do that by helping organizations achieve pay equity, foster a more diverse and inclusive workforce, assist economically disadvantaged individuals with finding work, and ensure employee access to affordable healthcare.
WOTC is a federal tax credit available to employers who hire individuals from specific target groups who have consistently faced significant barriers to employment. Any business can earn tax credits by hiring individuals who fit one of the program’s target groups, such as veterans, disabled persons, and persons who have received government assistance.
ERC under the Coronavirus Aid, Relief and Economic Security (CARES) Act provides tax credits to employers that retained employees during the 2020/2021 period. Companies that have experienced business disruption in 2020/2021 are incentivized to retain employees with a per-employee tax credit. It provides a refundable credit against employment taxes (IRS Form 941).