The Work Opportunity Tax Credit (WOTC) is a federal income tax credit that encourages employers to hire eight targeted groups of job seekers. As reauthorized and amended by the August 5th Taxpayer Relief Act of 1997, the WOTC can reduce employer federal tax by as much as $2,400 per new hire.
CFO Resources calculates the amount of credit on every WOTC certified individual through its proprietary software on a monthly/quarterly and annual basis.
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