IRS Gives Guidance On Veterans Tax Credit

The Internal Revenue Service has provided new guidance and forms that employers can use to claim the newly-expanded tax credit for hiring veterans.

The VOW to Hire Heroes Act of 2011, as enacted on November 21, 2011, expands the Work Opportunity Tax Credit (“WOTC”) to businesses hiring eligible unemployed veterans. For the first time the bill also makes the credit available to qualified tax-exempt organizations.

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