Definition
Programs that provide information and guidance for employers who may be eligible for a tax credit when they file their business returns with the IRS because they have hired one or more job seekers from a specified target population. Targeted individuals include TANF recipients, veterans receiving Food Stamps, selected ex-felons, high-risk youth, people referred through vocational rehabilitation, selected summer youth employment program participants, selected Food Stamp recipients and selected SSI recipients. The WOTC can reduce tax liability by as much as $2,400 per new hire. Also included are organizations that issue the tax credits.
URL Name
DT-8700-1000-950
Third Level Code
DT-8700
Taxonomy Code
DT-8700.1000-950
Parent Code
DT-8700.1000
Family Code
D
Second Level Code
DT
Fifth Level Code
DT-8700-1000-950
Fourth Level Code
DT-8700-1000
Use References
Employer Tax Credit Information, Work Opportunity Tax Credits, WOTC
Publication Status
Draft