If you find yourself asking, “What is WOTC?”, you’ve come to the right place.
WOTC stands for the Work Opportunity Tax Credit. It is a federal program available to employers large and small. Enacted in 1996, the program encourages businesses to hire targeted groups of workers who have historically struggled to find employment.
How does WOTC work?
WOTC helps transform government dependent people into self-sufficient workers while they earn a steady income and become contributing taxpayers. At the same time, WOTC incentivizes diversity in the workplace and facilitates access to good jobs for American workers. In exchange for hiring from these targeted groups, employers are able to significantly reduce their income tax liability.