Current tax rates' continuing costs
Last week at my other tax blog: Lauryn Hill's IRS issues; Oregon's $2.1 million fraudulent refund

Time running out for businesses that hired veterans to claim special tax credit

Toy soldierOwn a business? Hired a vet? Be sure you check out the Work Opportunity Tax Credit.

And be sure to do so by Tuesday, June 19.

That's right, you've only got a few days left to take tax advantage of your good hiring practices.

The Work Opportunity Tax Credit, or WOTC, can be as much as $9,600 per veteran for for-profit employers or up to $6,240 per veteran for tax-exempt organizations.

Employers that hired unemployed veterans during late 2011 and early 2012 were given extra time to request the required certification to claim the credit. But that expanded time frame ends next week.

If you're one of those employers, check out the special IRS notice with details on WOTC steps to take by June 19.

And thanks to you all for putting our former military members on your payrolls.

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