Work Opportunity Tax Credit- benefits and tax rebates
Work Opportunity tax credit is commonly known as WOTC.
It is a federal tax credit available to
employers for appreciating the hiring of individuals who belong to a specific group of the society.
They...
More
Work Opportunity Tax Credit- benefits and tax rebates
Work Opportunity tax credit is commonly known as WOTC.
It is a federal tax credit available to
employers for appreciating the hiring of individuals who belong to a specific group of the society.
They
are either less fortunate who have constantly faces significant barriers to employment.
With the launch of WOTC, the govt.
was trying to move workers from economic dependency to selfsufficiency while encouraging them to earn money for themselves as well as for their families.
This
process is also helping govt.
in two ways, primarily people who were earlier dependent on govt.
will now
be paying tax to govt.
and on the other hand, employers will reduce their tax liability which will help the
companies to appreciate Work Opportunity Tax Credit program more.
This is the ideal situation for the employers because now they will be able to save good amount of tax
which their company was earlier liable to pay to the govt.
Now the tax c
Less
