WOTC Meaning
WOTC stands for “Work Opportunity Tax Credit.” It is a federal tax credit offered to employers in the United States as an incentive to hire individuals from specific target groups who face significant barriers to employment. These groups may include veterans, long-term unemployed individuals, or those receiving public assistance, fostering inclusivity in the workforce.
Synonyms for WOTC
Employment tax credit
Workforce incentive program
Hiring tax benefit
Job opportunity credit
Employer tax reduction
Hiring incentive
Workforce tax program
Employment subsidy
Inclusive hiring credit
Targeted employment benefit
Antonyms for WOTC
Hiring penalty
Employment tax increase
Non-inclusive hiring
Unsubsidized hiring
Workforce tax burden
Hiring disincentive
Tax credit exclusion
Reduced workforce incentives
Job opportunity limitation
Increased employment costs
Short Sentences Using WOTC
The company applied for the WOTC after hiring a veteran.
WOTC encourages businesses to employ individuals facing barriers.
Small businesses benefit greatly from the WOTC program.
Employers need to submit proper documentation to claim WOTC.
The WOTC program helps reduce unemployment in target groups.
