This week retail giant Wal-Mart made a big promise to veterans. America’s largest private employer is offering a job to any recent military vet who wants one.
Wal-Mart’s five year plan promises a job to any veteran who has been honorably discharged from active duty within the past 12 months. In doing so, it would double that number of veterans working in its stores and offices, from 100,000 to 200,000 veterans.
Veterans and Work Opportunity Tax Credit
If you’re hiring a U.S. veteran you may be eligible for a special tax credit. Both businesses and tax-exempt employers that hire qualified veterans can receive a tax credit of up to $9,600. The amount of credit depends on a a number of factors, including how long the veteran was unemployed before being hired and how many hours and wages received during the first year of employment.
For additional information on the increased tax credits for hiring veterans, see the VOW to Hire Heroes Act Fact Sheet (pdf).
See the additional WOTC Categories.
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CMS has helped companies save money on new hires by maximizing tax credits available through the Work Opportunity Tax Credit since 1997. There’s never been a better time to start saving. Call today to speak to a tax credit expert 1-800-517-9099.