Congress Passes Vet Employer Tax Credits

 Congress included tax credits for businesses who hire veterans in the bill passed to avoid the fiscal cliff. 

The Returning Heroes and Wounded Warriors work opportunity tax credit provisions offer from $2,400 to $9,600 in credits to businesses who hire veterans.

 Two of the tax credits are each worth $2,400, one for veterans whose families are receiving supplemental nutrition assistance, and the other for the short-term hiring of unemployed veterans. 

Also extended are a $4,800 tax credit for hiring a veteran discharged within the previous year who has a service-connected disability; a $5,600 tax credit for hiring a veteran who has been unemployed for an extended period; and a $9,600 tax credit for hiring a service-disabled veteran who has been unemployed for an extended period.

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