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HVRP: Using Tax Credits to Encourage

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What is the Work Opportunity Tax Credit (WOTC)?

The WOTC is a federal tax credit that encourages employers to hire job-seekers with employment barriers by allowing them to recover a portion of the wages paid during the initial period of employment. For many employers, especially small businesses, this tax credit may provide an additional incentive to hire and retain veterans who qualify for the credit. The Small Business and Work Opportunity Tax Act of 2007 extended the WOTC program through August 31, 2011.

 

 

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