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Work Opportunity Tax Credit - YouTube video text script

HERE’S A TIP FROM THE IRS.

HI. I’M THERESA, AND I WORK FOR THE INTERNAL REVENUE SERVICE.

DID YOU KNOW THAT IF YOU HIRED A U.S. VETERAN, YOU MAY BE ELIGIBLE FOR A SPECIAL TAX CREDIT?

THAT’S RIGHT.

BOTH BUSINESSES AND TAX-EXEMPT EMPLOYERS THAT HIRE QUALIFIED VETERANS WHO BEGIN WORK BEFORE THE END OF 2012 CAN RECEIVE IT.

BUSINESSES MAY BE ENTITLED TO A CREDIT AS HIGH AS NINE-THOUSAND-SIX-HUNDRED DOLLARS. 

AND QUALIFIED TAX-EXEMPT ORGANIZATIONS, AS HIGH AS SIX-THOUSAND-240 DOLLARS.

THE AMOUNT OF THE CREDIT DEPENDS ON A NUMBER OF FACTORS, INCLUDING HOW LONG THE VETERAN WAS UNEMPLOYED BEFORE BEING HIRED, HOW MANY HOURS THE VETERAN IS WORKING AND HOW MUCH THE WAGES ARE DURING THE FIRST YEAR.

SO IF YOU HIRED A VETERAN RECENTLY OR HAVE THE OPPORTUNITY TO DO SO IN 2012, GO TO IRS.GOV AND TYPE WOTC IN THE SEARCH FIELD.

 

Page Last Reviewed or Updated: 2013-02-19