It is very important to understand these specialized Veteran Employment Tax Credits are completely separate from the Work Opportunity Tax Credit (WOTC) program. Based on our experience, almost all companies screening for the WOTC credit – are not claiming Veteran Employment Tax Credits.
One of the great benefits of the Veteran Employment Tax Credits is that they can be claimed post hire, and in most cases an employer can look back to January 1, 2012 to secure the benefit resulting in cash-flow for your organization.
The economic benefit can be up to $4,800.00 per qualified hire.
Example: 20 qualified Veterans X $4,800.00 results in $96,000 tax refund or credit. EIAG has developed a state specific email questionnaire to claim the credits.