Creating and expanding opportunities for economic success to those we serve.
The United States Congress created two financial incentive programs to benefit employers who hire ex-offenders. One program gives an employer a tax break of $2,400 once an ex-offender has been hired and has worked for a certain number of hours. The other provides fidelity insurance bonds as an incentive to hire an ex-offender who might normally be considered high risk by mainstream insurance companies.
The application process is simple and quick. Employers are not required to fill out forms. Employers request fidelity bonding by calling the State Bonding Coordinator at 312-793-1107 or a nearby IDES office. To identify a nearby office, call 1-888-367-4382 or log on to www.ides.illinois.gov.
If an applicant meets eligibility criteria, bonding becomes effective immediately following certification and on the applicant’s first day of work.
Some employers have reported that they were “on the fence” about hiring an ex-offender, but the financial incentives “sealed the deal.”
Federal Work Opportunity Tax Credit
The purpose of this program is to enable these individuals to gradually move from economic hardship to steady employment, while participating employers are rewarded by being able to lower their federal income tax liability. Tax credits are available from $1,200 up to $9,600 depending on the category.
For more information, visit the Illinois Department of Employment Security web site at http://www.ides.state.il.us/exoffenders/default.asp