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Archive for Tuesday, October 13, 2009

IRS announces tax credit deadline

October 13, 2009

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Businesses planning to claim the recently expanded work opportunity tax credit for eligible unemployed veterans and disconnected youths hired before mid-September have until Saturday to request the certification required for these workers, according to the Internal Revenue Service.

The American Recovery and Reinvestment Act, enacted in February, added unemployed veterans returning to civilian life and certain younger workers, referred to as disconnected youths, to the list of groups covered by the credit.

Under a special rule, businesses can file this form for unemployed veterans and disconnected youths who begin work on or after Jan. 1 and before Sept. 17. The instructions for Form 8850 provide details on requesting the certification.

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