CMS’s Brian Kelly answers your questions about the Work Opportunity Tax Credit.
Today’s WOTC Wednesday question: How Much WOTC Tax Credits Can an Employer Receive for Hiring a Qualified Veteran?
CMS Responds: One of the WOTC questions that we get is “how much can we receive for hiring qualified veterans?” The good news is that there’s a couple of different tiers for the Veteran category – the Vow to Hire Heroes. And one of the quickest way to qualify is if you hire a discharged veteran, and s/he was unemployed for four weeks, you’re eligible for a $2,400 tax credit. However, if you hire a veteran with a service-connected disability that tax credit can go up to $9,600.
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