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The Work Opportunity Tax Credit (WOTC) is a federal tax credit providing incentives to employers for hiring groups facing high rates of unemployment, such as veterans, youths and others. WOTC helps these targeted groups obtain employment so they are able to gain the skills and experience necessary to obtain better future job opportunities.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Work_Opportunity_Tax_Credit&oldid=455935486"
Common federal tax credits include: Child tax credit. Child and dependent care credit. Earned income tax credit. Adoption credit. Residential energy credit. Electric vehicle credit. Premium tax credit
This tax credit is subject to a phase-out for taxpayers with adjusted gross income in excess of $80,000 ($160,000 for married couples filing jointly). The act directs several Treasury studies: Coordination with non-tax student financial assistance;
The American Opportunity Tax Credit eases that burden with an annual education tax credit of up to $2,500 for tuition and fees for the first four years of higher education, and it’s available to ...
The highly touted Making Work Pay tax credit is proving to be a headache for many taxpayers this season. Despite a PR campaign by the IRS designed to provide information about the credit ...
This page was last edited on 17 November 2024, at 20:10 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
Personal Responsibility and Work Opportunity Reconciliation Act of 1996; Long title: An Act To provide for reconciliation pursuant to section 201(a)(1) of the concurrent resolution on the budget for fiscal year 1997: Acronyms (colloquial) PRWORA: Enacted by: the 104th United States Congress: Citations; Public law: Pub. L. 104–193 (text ...
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