Employers Need to Act Soon to Receive Tax Credit for Hiring Vets

WASHINGTON, D.C. — Employers that hired unemployed veterans during late 2011 and early 2012 had an expanded period to request the required certification for claiming the expanded Work Opportunity Tax Credit (WOTC). That expanded period ends on Tuesday, June 19.

The IRS is reminding employers that for eligible veterans hired on or after Nov. 22, 2011 and before May 22, 2012, they have until June 19 to file certification forms with state workforce agencies.
Here are some important points to know about the credit and upcoming deadline:

• New rules provide for an expanded WOTC to employers that hire eligible unemployed veterans.
• The credit can be as high as $9,600 per veteran for for-profit employers or up to $6,240 per veteran for tax-exempt organizations.

Read more: http://njtoday.net/2012/06/13/employers-need-to-act-soon-to-get-expanded-credit-for-hiring-vets/#ixzz1xmw2kv3r

About CMS

CMS helps companies of all sizes save money by taking advantage of the Work Opportunity Tax Credit. For more information about how WOTC can help your business, call Brian Kelly at 1-800-517-9099 today to see if it makes sense for you.