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The Hire Heroes Act expands the WOTC by:
•;Doubling the maximum credit, to $9,600, for
disabled veterans who have been unemployed for
six months or more in the preceding year
•;Adding a credit of up to $5,600 for hiring
nondisabled veterans who have been unemployed
for six months or more in the preceding year
•;Adding a credit of up to $2,400 for hiring
nondisabled veterans who have been unemployed
for four weeks or more, but less than six months,
in the preceding year
In addition to providing tax incentives for
hiring veterans, the Hire Heroes Act creates or
expands several programs that provide training,
rehabilitation, and other vocational benefits for
veterans. It also allows tax-exempt employers
who hire qualified veterans to use the WOTC as a
credit against their payroll taxes. This change is
effective for employees starting after November
21, 2011.
We’re Here to Help
To take advantage of the WOTC, be sure to check
prospective employees’ eligibility and complete
required forms before extending an offer. Within
28 days of an employee’s start date, you’ll need
to apply with your state workforce agency for
certification of the employee’s eligibility for the
credit.
Moss Adams LLP professionals are available
to assist you with the employee screening and
certification process.
The material appearing in this communication is for
informational purposes only and should not be construed
as legal, accounting, or tax advice or opinion provided
by Moss Adams LLP. This information is not intended
to create, and receipt does not constitute, a legal
relationship, including, but not limited to, an accountant-
client relationship. Although these materials have been
prepared by professionals, the user should not substitute
these materials for professional services, and should seek
advice from an independent advisor before acting on any
information presented. Moss Adams LLP assumes no
obligation to provide notification of changes in tax laws or
other factors that could affect the information provided.
The material appearing in this communication is for informational purposes only and should not be construed as legal, accounting, or tax advice or opinion provided by Moss Adams LLP.
This information is not intended to create, and receipt does not constitute, a legal relationship, including, but not limited to, an accountant-client relationship. Although these materials
have been prepared by professionals, the user should not substitute these materials for professional services and should seek advice from an independent advisor before acting on any
information presented. Moss Adams LLP assumes no obligation to provide notification of changes in tax laws or other factors that could affect the information provided.
