FAQ’s for Vow to Hire Heroes Act

As we first discussed here, the VOW to Hire Heroes Act expanded the Work Opportunity Tax Credit to tax-exempt employers. The IRS has now released frequently asked questions and answers regarding the Act. The FAQ’s cover everything from the definition of a “qualified veteran” to how to claim the credit. The IRS also provides examples to clarify applicable rates when calculating the tax credit. If you still have questions, speak to your tax professional for additional guidance.