A tax credit that employers get for hiring veterans or ex-offenders expires at the end of the year. The tax credit of up to $9,600 was due to expire at the end of last year. It was extended once, and U.S. Rep. Robin Kelly (D-Matteson) tried to get it extended again.
“After fighting for our nation, no veteran should have to come home and fight for a job. Likewise, every American who’s willing and able to work should have a fair shake at getting a job, even those who have made a mistake in their past,” she said.
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The exact amount of the tax credit is determined by a formula. In the case of veterans, the formula takes into account factors such as how long the individual was unemployed, and whether he or she has any service-related disabilities.
Kelly is pushing a measure to make the tax credits permanent. It was not acted upon before Congress finished for the year, but it could turn up next year. She is talking about the measure as a benefit to small business in order to appeal to Republicans, who may not be inclined to support helping ex-offenders.
For now, the advice to employers from the IRS is, hurry up and hire a qualifying veteran or ex-offender before the end of the year if you want the tax credit.