Work Opportunity Credit Expanded for Businesses Hiring Unemployed Veterans

The Vow To Hire Heros Act of 2011 provides a credit to businesses hiring eligible unemployed veterans. Both for profit and not for profit businesses can benefit, and the IRS just made it easier to claim by extending the deadline on filing the required certification and by authorizing the use of electronic transmission of signatures and necessary forms.

For employees hired between November 22, 2011 and May 22, 2012, employers have utnil June 19, 2012 to file their certification. The previously existing 28 day rule for certification will remain in place for hires on or after May 22, 2012.

The credit tops out at $9,600 for for-profit businesses and at $6,240 for non-profits. The amount of the credit an employer can qualify to receive depends on several factors, like the length of time the new hire was unemployed and the amount of wages paid.

For more information, see your CPA, or visit irs.gov.