Fillable Form 5884 - Work Opportunity Credit - 2011 printable pdf download

5884

OMB No. 1545-0219

Work Opportunity Credit

2011

Form

Department of the Treasury

Attach to your tax return.

Attachment

▶

Internal Revenue Service

Sequence No.

Name(s) shown on return

Identifying number

Enter on the applicable line below the total qualified first- or second-year wages paid

or incurred during the tax year, and multiply by the percentage shown, for services of

employees who are certified as members of a targeted group.

a Qualified first-year wages of employees who worked

for you at least 120 hours but fewer than 400 hours .

× 25% (.25)

b Qualified first-year wages of employees who worked

for you at least 400 hours

. . . . . . . . . .

× 40% (.40)

c Qualified second-year wages of employees certified as

long-term family assistance recipients . . . . . .

× 50% (.50)

Add lines 1a, 1b, and 1c. See instructions for the adjustment you must make to

salaries and wages . . . . . . . . . . . . . . . . . . . . . . . . .

Work opportunity credit from partnerships, S corporations, cooperatives, estates, and

trusts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Add lines 2 and 3. Cooperatives, estates, and trusts, go to line 5. Partnerships and S

corporations, stop here and report this amount on Schedule K. All others, stop here

and report this amount on Form 3800, line 4b . . . . . . . . . . . . . . .

Amount allocated to patrons of the cooperative or beneficiaries of the estate or trust

(see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . .

Cooperatives, estates, and trusts, subtract line 5 from line 4. Report this amount on

Form 3800, line 4b . . . . . . . . . . . . . . . . . . . . . . . . .

General Instructions

2009 by a designated community resident or summer youth

employee who lived in a renewal community may no longer

Section references are to the Internal Revenue Code unless

qualify for the work opportunity credit unless the designation

otherwise noted.

is extended.

What's New

• The carryforwards, carrybacks, and passive activity

limitations for this credit are no longer reported on this form;

• The work opportunity credit expired for employees not

instead, they must be reported on Form 3800, General

certified as qualified veterans who began work after 2011.

Business Credit.

Do not report wages paid or incurred to these employees on

Form 5884 unless the credit is extended. See

Purpose of Form

form5884 for the latest information about this credit.

Use Form 5884 to claim the work opportunity credit for

• The VOW to Hire Heroes Act of 2011 (a) expanded the

qualified first- or second-year wages you paid to or incurred

definition of “qualified veteran” to include certain

for targeted group employees during the tax year. Your

unemployed qualified veterans who begin work after

business does not have to be located in an empowerment

November 21, 2011, and before 2013, (b) increased the

zone or rural renewal county to qualify for this credit.

amount of qualified first-year wages used to figure the credit

for certain qualified veterans, and (c) extended the credit to

You can claim or elect not to claim the work opportunity

cover all employees certified as qualified veterans who begin

credit any time within 3 years from the due date of your

work after 2011 and before 2013.

return on either your original return or an amended return.

• The Act also allows qualified tax-exempt organizations to

Taxpayers, other than partnerships, S corporations,

claim the credit against certain employment taxes for

cooperatives, estates, or trusts, whose only source of this

qualified veterans who begin work after November 21, 2011,

credit is from those pass-through entities, are not required to

and before 2013 (see Form 5884-C, Work Opportunity Credit

complete or file this form. Instead, they can report this credit

for Qualified Tax-Exempt Organizations Hiring Qualified

directly on Form 3800.

Veterans).

• Renewal community designations expired at the end of

2009. Wages paid or incurred for services performed after

5884

For Paperwork Reduction Act Notice, see instructions.

Form

(2011)

Cat. No. 13570D

Form 5884 - Work Opportunity Credit - 2011

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