Monthly Archives: December 2013

Tax Credits for Employers Hiring Veterans by Dec 31

IRS Urges Employers to Hire Veterans by Dec. 31, Save on Taxes

Employers looking to hire sometime soon are urged to consider hiring veterans. Such hiring may entitle the employer to claim the federal Work Opportunity Tax Credit worth thousands of dollars. Employer must however act soon…the WOTC is available to employers that hire qualified veterans before the new year.

Some key facts about the WOTC include:

1. Hiring Deadline. To qualify for the WOTC, Employers must hire qualified veterans before Jan. 1, 2014. Though the credit was previously set to expire at the end of 2012, the American Taxpayer Relief Act of 2012 extended it for one year.