On November 21, the VOW to Hire Heroes Act of 2011 was signed into law by President Obama. In addition to education, training, and transition programs for veterans, the Act provided further hiring tax incentives to employers.
The Returning Heroes Tax Credit (For unemployed Veterans)
- For the short-term unemployed: A credit of 40 percent of the first $6,000 of wages (up to $2,400) for employers who hire veterans who have been unemployed at least 4 weeks.
- Long-term unemployed: A credit of 40 percent of the first $14,000 of wages (up to $5,600) for employers who hire veterans who have been unemployed longer than 6 months.
The Wounded Warrior Tax Credit (For Veterans with service-connected disabilities)
- Work Opportunity Tax Credit for veterans with service-connected disabilities (up to $4,800).
- A credit of 40 percent of the first $24,000 of wages (up to $9,600) for employers that hire veterans with service-connected disabilities who have been unemployed longer than 6 months.
For more information on the affirmative action compliance services offered by THOMAS HOUSTON associates, inc., visit our website, call (800) 330-9000 or click here to schedule a convenient time for a call from a member of our Sales Team.
This information is intended to be educational and should not be considered legal advice on any specific matter.
This information is intended to be educational and should not be considered legal advice on any specific matter.
