Employers planning to claim an expanded tax credit for hiring certain veterans should act soon, according to the IRS. Many businesses may qualify to receive thousands of dollars through the Work Opportunity Tax Credit, but only if the veteran begins work before the new year.
Here are six key facts about the WOTC as expanded by VOW to Hire Heroes Act of 2011.
Visit the IRS.gov website and enter 'WOTC' in the search field for forms and more details about the expanded tax credit for hiring veterans.
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December 10 (Employees who work for tips)
If you received $20 or more in tips during November, report them to your employer
December 16 (Corporations)
Deposit the fourth installment of estimated income tax for 2013
December 25 (Everyone)
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