Employer benefits and resources for hiring veterans

November 11, 2010

According to the U.S. Census Bureau there were 21.9 million military veterans living in the United States in 2009.  Of that number the Bureau reported that only 9.8 million veterans aged 18 to 64 were in the labor force.

The Department of Veteran Affair’s Veteran Benefits Administration’s Vocational Rehabilitation and Employment (VR & E) Program is a national employment resource for employers.

The VR & E Service provides effective vocational rehabilitation services to veterans with service-connected disabilities. Enabling our injured soldiers, sailors, airmen, and other veterans with disabilities for a seamless transition from military service to a successful rehabilitation and on to suitable employment after service to our Nation.

Learn more about the VR & E Service and the various programs and tax credits available to employers who hire veterans especially disabled veterans.

One such program, the Work Opportunity Tax Credit (WOTC) is a tax credit for businesses that hire individuals from certain qualified groups, of which one is disabled people who completed or are completing rehabilitative services from a state or the U.S. Department of Veteran Affairs. 

The Department of Labor offers an informative fact sheet about the target groups covered by the WOTC.   The credit can be as much as $4,800 for each new disabled veteran hire and the employer may hire as many new individuals who qualify for these tax savings.

To find qualified veterans to hire:

  •  locate the VR & E Office in your state use  this link  to the Department of Veteran Affairs “Facilities Locator & Directory” web page. Scroll down the page and click on your state. Under “Veterans Benefits Administration” click on the Regional Office. You will find the address and phone number to contact the Regional Office. When you make contact ask for the VR & E Service Officer or VR & E Service Employment Coordinator.
  • You may also send an   email  indicating your interest to hire a veteran from the VR&E Program, a description of the position and the best means to contact you. Your email will be directed to the appropriate VR&E Service Office and you will be contacted.
  • Visit the National Resource Directory for a thorough list of programs available to help employ veterans.

1 Comment | Employer | Tagged: , , , , , | Permalink
Posted by HR Diva

What you should know about the HIRE Act

May 27, 2010

The Hiring Incentives to Restore Employment (HIRE) Act, which became law on March 18, 2010, offers temporary payroll tax breaks to employers for hiring previously unemployed individuals. It also extends a business tax credit for retaining those qualified individuals for at least 52 weeks. 

Below are details of the new law:

Reduced Social Security Taxes for Employers
The new law offers a temporary tax holiday from the 6.2% Social Security payroll tax on “qualified individuals.” Here are the basic rules:

  • Qualified individuals must be hired after February 3, 2010 and before January 1, 2011.
  • In order for an employer to claim the tax exemption, each qualified individual must certify by signed affidavit that the individual was not employed for more than 40 hours during the 60-day period prior to the start date of employment.
  • The tax exemption applies to wages earned from the enactment date (March 18, 2010) through December 31, 2010.

Business Tax Credit
Under the HIRE Act employers are also eligible for a $1,000 business tax credit for each qualified individual retained at least one year (52 consecutive weeks). This tax credit would be claimed on the 2011 business income tax return. Please consult with your tax professional for guidance on claiming this credit.

Click here to view the official HIRE Act news release from the IRS.

Leave a Comment » | Employer | Tagged: , , , , | Permalink
Posted by HR Diva

Follow

Get every new post delivered to your Inbox.