Hire a Hero, Enjoy the Benefits  

Oleh:

Christian, Blake

Jenis: Article from Bulletin/Magazine
Dalam koleksi: Journal of Accountancy vol. 213 no. 5 (May 2012), page 54-57.
Topik: Veterans; Hiring; Tax Credits; Provisions; Federal Legislation

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ85.32 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Most provisions of the work opportunity tax credit (WOTC) expired on Jan 1, 2012, but the program was modified and partially extended by the VOW to Hire Heroes Act of 2011, P.L. 112-56, to cover military veteran hires. Under Sec. 51, as amended, employers may be eligible for a credit of up to $9,600 for each qualified veteran they hire after the law's enactment date, Nov 21, 2011, and before Dec 31, 2012. The act created the returning homes and wounded warriors tax credits. To avoid doubling up on the new WOTC credit, a successor employer -- one that acquires substantially all of the property used in a trade or business of another employer -- must for purposes of calculating the credit reduce the wages paid or incurred by the successor by those wages paid or incurred by the previous employer. The large number of returning veterans will appreciate employers that use this program to increase hiring of those who have served the country.

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