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Federal Work Opportunity Credit
Extracted from PDF file 2023-federal-form-5884.pdf, last modified March 2021Work Opportunity Credit
Form 5884 (Rev. March 2021) Department of the Treasury Internal Revenue Service Work Opportunity Credit ▶ Go ▶ Attach to your tax return. to www.irs.gov/Form5884 for instructions and the latest information. Attachment Sequence No. 884 Identifying number Name(s) shown on return 1 OMB No. 1545-0219 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% (0.25) 1a b Qualified first-year wages of employees who worked for $ you at least 400 hours . . . . . . . . . . . . . × 40% (0.40) 1b c Qualified second-year wages of employees certified as long-term family assistance recipients . . . . . . . × 50% (0.50) 1c $ 2 Add lines 1a, 1b, and 1c. See instructions for the adjustment you must make to your deduction for salaries and wages . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Work opportunity credit from partnerships, S corporations, cooperatives, estates, and trusts (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 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, Part III, line 4b . . . . . . . . . . . . . . . . 4 5 Amount allocated to patrons of the cooperative or beneficiaries of the estate or trust (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 Cooperatives, estates, and trusts, subtract line 5 from line 4. Report this amount on Form 3800, Part III, line 4b . . . . . . . . . . . . . . . . . . . . . . . . . . 6 For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 13570D Form 5884 (Rev. 3-2021)
Form 5884 (Rev. March 2021)
More about the Federal Form 5884 Corporate Income Tax TY 2023
We last updated the Work Opportunity Credit in February 2024, so this is the latest version of Form 5884, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 5884 directly from TaxFormFinder. You can print other Federal tax forms here.
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TaxFormFinder has an additional 774 Federal income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Federal Form 5884.
| Form Code | Form Name |
|---|---|
| Form 5884-C | Work Opportunity Credit for Qualified Tax-Exempt Organizations Hiring Qualified Veterans |
View all 775 Federal Income Tax Forms
Form Sources:
The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal Form 5884 from the Internal Revenue Service in February 2024.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Federal Form 5884
We have a total of twelve past-year versions of Form 5884 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form 5884
Form 5884 (Rev. March 2021)
2022 Form 5884
Form 5884 (Rev. March 2021)
2021 Form 5884
Form 5884 (Rev. March 2021)
2020 Form 5884
Form 5884 (Rev. March 2021)
2019 Form 5884
Form 5884 (Rev. December 2016)
2018 Form 5884
Form 5884 (Rev. December 2016)
2017 Form 5884
Form 5884 (Rev. December 2016)
2016 Form 5884
Form 5884 (Rev. December 2016)
2015 Form 5884
2015 Form 5884
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