How Can Small Businesses Benefit From The Work Opportunity Tax Credit?

August 23, 2022 ⚊ 1 Min read ⚊ Views 103 ⚊ BUSINESS

The Internal Revenue Service (IRS) and the Department of Labor jointly administer the Work Opportunity Tax Credit (WOTC) to give relief for American taxes a general business credit (DOL). Any employer that recruits and pays or incurs wages to particular people verified by a designated local agency (also known as a state workforce agency) as a member of one of 10 targeted categories is eligible to claim the WOTC. For salaries paid to specific persons who start working on or before December 31, 2025, the WOTC is accessible.

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Tags: American taxes

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