Employers hiring vets may earn tax credit

Employers planning to claim an expanded tax credit for hiring certain veterans should act soon, according to the IRS.

Many businesses may qualify to receive thousands of dollars through the Work Opportunity Tax Credit, but only if the veteran begins work before the new year.

Here are six key facts about the Work Opportunity Tax Credit as expanded by VOW to Hire Heroes Act of 2011:

• Hiring deadline. Employers may be able to claim the expanded credit for qualified veterans who begin work on or after Nov. 22, 2011, but before Jan. 1, 2013.

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