Can anyone explain me about WOTC?

[willowjones]

Hey, I need a little help from you guys, I just want to know what is WOTC? How it helps and what is their importance for an employer? How can I take its benefits? If you guys have any information regarding this, please share it with me.
Thanks a lot!!

[cashing_in]

Hi,

It is a federal tax credit program which gives incentives to employers for employing people who had difficulty in securing and retaining job.

Who are to Benefit ?

Employers - The credit helps offset the federal tax liability of private, for-profit employers

Traget groups -

# IV-A Recipient - A member of a family that has received Temporary Assistance for Needy Families (AFDC/TANF) for any nine (9) months within the last 18 months ending on the hire dates.
# Veterans - Active duty veterans who have received food stamp assistance for at least three (3) months of the last fifteen (15) months ending on the hire date.
# Ex-Felons - A felon that has been convicted or released from prison of a felony within one year of the hire date.
# Designated Community Resident

[ritajones56]

Thanks for the info. I wanted to know WOTC is too, and it does sound very beneficial to all parties involved.

[veronica765]

Hi

WOTC is Work opportunity tax credit. The Work Opportunity Tax Credit is a federal tax credit used to reduce the federal tax liability of private-for-profit employers. Even will also help you as they work like an agent between employers and IRS. In this page you will get all the information related to WOTC.
Hope it will help you!!!!!

[Brent78]

Hi there,

WOTC is Work opportunity tax credit. The Work Opportunity Tax Credit is a federal tax credit used to reduce the federal tax liability of private-for-profit employers.

Hope it will help you!!!!!