The Purpose of the Federal Bonding Program is:
Bonding Program Benefits for the Job Seeker:
Who Qualifies for Bonding?
Individuals who are not commercially bondable due to past questionable behavior which casts doubt upon their credibility or honesty, or who have committed fraudulent or dishonest acts are eligible. This includes:
Visit any CareerSource Pasco Hernando Center or email FederalBonding@careersourcepascohernando.com to inquire about and/or apply for the bonding program. Eligibility will be determined and employment information for a bona fide job offer will be verified, and a bond form completed by an employment counselor at the EC.
A letter will be sent to the employer confirming the bond. The letter includes the name of the job seeker for whom the bond is being issued, bond effective date, amount and period of coverage, etc. This letter confirms the bond in advance of receipt of the actual Fidelity Bond, which is mailed to the employer.
The Work Opportunity Tax Credit Program (WOTC) offers private for profit employers an opportunity to earn a federal income tax credit for hiring individuals from certain target groups. The program is also designed to help jobseekers who consistently have a particularly high unemployment rate, enter employment. By hiring individuals from these targeted groups, employers can reduce their taxes up to $2,400 or $4,800 during the first year of employment or up to $9,000 over two years, depending on the qualified applicant.
The targeted groups are: Qualified Temporary Assistance to Needy Families Recipients, Qualified Veterans/Disabled Veterans, Qualified Ex-felons, Designated Community Residents, Vocational Rehabilitation Referrals, Qualified Summer Youths, Qualified Food Stamp Recipients, Qualified Supplemental Security Income Recipients and Long-Term Family Assistance Recipients.
The American Recovery and Reinvestment Act of 2009 expand WOTC to include two new targeted groups: disconnected youth and unemployed veteran.
WOTC Online Resource Center: Click Here