DEADLINE ON TAX CREDIT FOR HIRING UNEMPLOYED VETERANS
In 2011, Congress passed a new law to establish a tax credit for businesses that hire previously unemployed veterans. The amount of credit available depends on the length of time that the veteran has been unemployed and whether or not they are disabled. It is only available for veterans who start work between November 22, 2011 – December 31, 2012. Businesses have until June 19th this year to file Form 8850 and verify that the veterans were hired between November 22, 2011 and May 21, 2012. For any workers hired after May 21, 2012, businesses have 28 days from the start of employment to obtain verification from their state employment agency. To learn more about this, please visit the following article from: The Journal of Accountancy