It is used when you see a "slut" or "hoe"
OMG look at that Thot
New Definition: Acronym for That Hoe Owes Taxes. Comes from recent scandal of Thots being audited by the IRS after being reported on Twitter. AKA the world may yet be saved.
Report a Thot to the IRS today and get up to a 30% reward! It’s completely legal! #ThotPatrol
There’s a thot bot
BE GONE THOT
Dat boiii got a thot be gone you thot totty botty